Crowdfunding and online donors platform should be regarded as a wonderful initiative that helps people get help earn via those platforms that put their stories on the limelight and help them get the sympathy and compassion of those to the point of such people donate through the platform so they can get the financial support they need to get rid of their problems and challenges. However, with the rise in these type of platforms, we've come to see rise in discrepancies In how the funds are use of what is legit in those platforms and if people who really needs these support will get the donations meant for them, and so in the light of that I'll be talking about how crowdfunding platforms can be more transparent so they'll be more trustworthy going forward.
Well to show transparency is something I believe is very easy to do, if those crowdfunding platforms wants to do it and that's because it's as simple as stating where each amount came from, where it's going and the impact it made or the problems it was able to solve or eradicate. So with that being stated, one thing to show transparency for those donor platforms is for them to have a clear financial breakdown, If they can show how they get funding, what was spent, what left and the amount send to those who really needs it, that's one step towards showing how genuine they are.
Another way to go about showing that they're legit and transparent is to regularly update everyone, but donors, benefiaries and onlookers on how they make use of what was being donated, and this shouldn't be done with meer speech, but back up with receipts, invoices and photos, which will serve as evidence for their claims and another can easily go on to verify how legit their claims are. Such platforms should also be willing to go the extra mile in verifying various campaigns hosted on their platforms, so they'll know which is legit and which isn't.
Another way avenue via such such platforms can show transparency is displaying donations records, yes I know we must respect donors privacy, but then can just list how much comes in through codes without necessarily mentioning who donated each amount, and then round it up by showing the total amount contributed, so people wouldn't have thought of maybe the platform is manipulating things. One other way which I think would most certainly brings about trust and show that the platforms is willing to be transparent is if they open their door for independence audits team to come vet their account, allowing themselves to go their an independent financial audit will really go a long way in showing their transparency and trustworthiness.
Another way that can show such trustworthiness is if these platforms is if they announce or call out fraud and misused fund in their platforms by campaign organisers, doing this shows they are not in it for such act and are ready to distance themselves from anything that has to do with fraud and deceit.
Overall, transparency is necessary in anywhere we find ourselves, especially financially related matters and that's because it brings about trust. I mean what is the point of me donating if I can state who I'm giving, where the money is going and the difference my donation makes.
All photos are generated using ChatGpt.
