Charity work, or helping people in need as a humanitarian and selfless act, is a prominent component of many cultures and religions. Charity involves giving the underprivileged money, products, and time individually or through charitable organizations and trusts. Charitable foundations or trusts work on the model of donations, where a group of donors, patrons, and benefactors usually sponsor a particular cause. The organization receives donations from benefactors, business corporations, and the public to support the underprivileged sections of society. Charities either offer money or cash to people in need or products, medicines, clothes, and other necessities according to their needs. Many charitable foundations work as non-government organizations working toward particular objectives like battling diseases, eradicating poverty, providing education, and rescue or relief work during and after natural disasters.
Traditional charitable organizations function as non-profit organizations and help people in need by receiving donations from the public and utilizing the funds to improve people’s financial or social conditions. Donations are the primary source of funds for charitable organizations,and most people donate to charities due to their humanitarian, religious, and cultural values or beliefs. Contributions, gifts, and donations from the public, business corporations, and other sources enable charitable entities to function adequately and achieve their objectives of fulfilling the needs of the deprived sections of society. Although the traditional philanthropic model helps support the poor and fulfill their needs, some deficiencies create room for contemporary and innovative strategies to enhance charitable work. TừThiện 4.0 (TT4),or English Charity 4.0 (C4),is introducing new and innovative ways to improve charities’ fund or resource inflows and outflows.
Charity 4.0 introduced a distributed and self-funded charity model based on crowdsourcing to improve the efficacy and transparency of charitable work. QuocDuy Vo established the non-profit model in March 2022 as an alternative to the traditional charity model comprising donors, benefactors, charity managers, and fund recipients. The organization is located in the Vietnamese province ofLong An and focuses on helping the disabled, sick, and underprivileged. The innovative concept uses crowdsourcing to motivate people to participate in and contribute to the organization’s activities. The crowdsourcing model is also the primary element that makes TừThiện 4.0a distributed charitable organization. C4 divides the financial and operational aspects of the charity among several people rather than centralizing activities to a particular manager for increased transparency and efficiency.
The distributed charity model comprises several sponsors and donors rather than relying on limited benefactors for maximizing financing and spending coverage. The distributed model utilized by TừThiện 4.0 also enables ordinary people to participate in charitable work rather than depending on affluent individuals to fund resources. The public can participate in the distributed model with even the smallest contributions due to the involvement of numerous supporters. English Charity 4.0or TT4 also reduces the financial burden on a few people and minimizes interruptions arising from stopped or delayed funds from the primary donors.C4 developed an innovative framework to enhance the efficacy of charitable work while involving a maximum number of people in the process regardless of their financial background.
Conventional charities rely on cash donations to function adequately and seamlessly because they need the money to help the needy. Cash is essential to almost all traditional charities because prevalent practices and norms emphasize receiving and giving money. However, relying excessively on cash adversely affects the long-term prospects of philanthropy due to financial ambiguities and discrepancies. Contemporary charity frameworks like TừThiện 4.0 utilize a cashless model where donors or sponsors donate products or goods rather than cash. The organization receives goods like medicines, supplies, and other health items from the benefactors and gives them to the poor. The cashless framework prevents discrepancies due to a lower probability of embezzlement than cash donations.
English Charity or TừThiện 4.0 eliminates ambiguities and challenges related to traditional charities by utilizing an innovative and unique philanthropic model. C4 uses a distributed network to request numerous donors or supporters for donations rather than depending on a group of limited donors and patrons. Broadening the donor base reduces disruptions or closures of the charity stemming from delayed or denied funds. C4 also uses a cashless system for philanthropy and encourages people to donate goods or products rather than giving cash donations. Using a distributed philanthropic network and prioritizing products or goods instead of cash alleviates the discrepancies, uncertainties, and ambiguity of traditional charitable organizations.