Harnessing the Power of Blockchain Technology to Raise Funds for Hospitals
To revolutionize fundraising, Web3Devs helped The Children’s Miracle Network Hospitals create Miracle Tab, so people can donate $280 a year to their local children’s hospital without ever opening their wallet. Like in this study, in-browser mining, or donating spare computing cycles and electricity, can be used to generate funds for any charitable cause. Read below for an example of nonprofit blockchain technology…
The Children’s Miracle Network Hospitals (CMN) raises funds and awareness for 170 children’s hospitals across the U.S. and Canada. Established in 1983, they rely on donations and community support to fund life-saving care, research, and education.
When it comes to procuring donations, they’ve run the gamut. From telethons to Delta SkyMiles, the nonprofit studies trends and assesses the need for change. Nonprofit blockchain technology had never been a consideration.
“We’ve always been on the front end of trying new methods of fundraising,” says Kyton Sweat, Senior Manager of the Innovation Pipeline at CMN, “One frustration is the donor has to get out their credit card and type their account numbers in.”
In the fall of 2017, the Innovation Pipeline hosted a Hackathon event to brainstorm easier ways for people to donate.
During the Hackathon, team members left their desks to better the company in unrestricted and interesting new ways. Throughout the day, employees worked in self-chosen teams on a project that was either tied to their job or a new idea.
One team presented a new fundraising channel that would harness the power of blockchain technology. Initially developed for digital currency, blockchain technology can create an incorruptible digital ledger of contracts, records, and transactions. But, it was in-browser mining, or giving up computer processing power for payment, which caught the teams’ eye.
e, visit MiracleTab.org. To learn more about how blockchain works for businesses, click here.
Staying One Tab Ahead
The team pitched the idea of a website called MiracleTab.org. With a click of a button, it would allow people to donate their spare computing cycles and electricity to generate cryptocurrency. For every hour the tab is left open, 3 cents is generated. The cryptocurrency would then be converted to donations for children’s hospitals.
“The team’s presentation went incredibly well, and the CEO signed off of it immediately,” says Kyton, “It blew everybody away. We wanted to take that idea and make it a reality as quickly as possible.”
Bridging the Gap Between Knowledge and Execution
Kyton and the Innovation Pipeline team researched cryptocurrencies and blockchain technology (you can learn more about both here). They wanted to develop a clear understanding of this new type of internet. But, the team needed help decreasing the knowledge gap between learning the technology and using it.
“In this space, everything is rapidly evolving,” says Brian Wentzloff, Co-Founder and CTO of Web3Devs, “It’s beneficial to let decisions be made by people who are in it on a daily basis. CMN had technical people, but they weren’t familiar with the blockchain concept. And they had people who understood the marketing and business context. They needed us to be the glue in between.”
Kyton discovered Web3Devs while searching for a WordPress monero miner plugin. Web3Devs plugin, WP Commitment Contract, was the top hit in his search results.
“I looked around for different companies, but Web3Devs had the number one plugin,” explains Kyton, “They responded quickly and were open and giving with the code.”
Web3Devs begins each project with an in-depth consultation. They hone in on what the client wants and the best approach to reach those goals.
Although it was was two weeks before Christmas, Web3Devs worked to create the miner needed for CMN’s website. The initial version of the plugin already existed for anyone to use. But CMN needed customizations so the plugin could exist in their internal system and adhere to procedures.
Within a month, Web3Devs added the code into their system. CMN’s technology team ran the code through a security check and modified the interface to fit their brand.
Because blockchain technology is still new — and complex to the masses — Web3Devs also assisted with crafting concise website copy so potential donors could quickly understand how MiracleTab works. They explained terminology, narrowed down important concepts, and used words that would get people to open up their wallets.
Raising More Fund, Easier and Faster
“I’m forever grateful for Web3Devs’ donation of that code,“ says Kyton, “It fast-tracked something that would usually take months to develop, and they did it in a couple of days. They delivered a perfect product. It’s a blessing to be one of the forefront leaders of this technology in the nonprofit space.”
Currently, CMN is creating a media campaign and searching for beta testers. But, early users have already performed 422.22 million hashes. In addition, they’re launching a business to business solution, which will utilize unused workstations to mine cryptocurrencies.
The organization is excited about the impact blockchain technology will have on fundraising for children’s hospitals. And Web3Devs is looking forward to seeing other organizations embrace this new technology.
“Like any emerging technology, it’s helpful to be on the forefront of things,” says Brian, “CMN is implementing ideas that have great rewards associated with them. When everyone is calling and asking for charitable donations, that can get noisy. They’re doing something different to get more participation. Blockchain technology isn’t just for nerdy coders in the dark parts of the internet. It’s for real people who want to make an impact in the word.”
To learn more, visit MiracleTab.org. To learn more about how blockchain works for businesses, click here.