Austin-based nonprofit using blockchain technology, cryptocurrency to help children in need
The goal of upbringing is to protect and prevent children from living in dangerous or unhealthy situations. To do so, the organization becomes innovative.
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A non-profit organization uses newer technology to solve an age-old problem.
Upbring is an Austin-based nonprofit organization serving more than 11,000 children in the state of Texas. The organization has three main ministries: foster homes, education and resettlement.
The mission’s aim is to protect and prevent children from living in dangerous or unhealthy situations. The organization currently has 75 locations across Texas to carry out that mission.
It’s a mission that aims to break the cycle of child abuse, but also break the mold when it comes to how the mission is carried out.
Upbring’s President and CEO Michael P. Loo understands that there are different ways to help children, and he and his team have started a five-employee innovation lab that works to use technology to advance the organization’s goals.
“We don’t want to just keep doing what we’re doing from a programming perspective. We want to start adding some value in terms of measuring the impact on the child. What are our programs actually doing while we have them,” Loo said.
The 5-person innovation lab is coming up with ways to do just that, as well as developing new ways to raise the necessary funding.
Ryan Park is vice president of innovation.
“A big part of the industry’s influence is opening minds to what’s possible,” Park said.
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One application Park and his innovation team are working on is using blockchain technology to speed up the process of identifying a child in need. Through this, Upvekst will be able to assist that child with the resources they need more quickly.
“We’re also working on a big data project to use millions and millions of data fields to determine potentially predict where child abuse might happen next,” Park said.
As with all non-profit organizations, funding is necessary to operate Upbring. It is a $100 million organization and 15% to 20% of its budget is raised through private fundraising.
That’s where Upbring’s latest innovation comes in. Park and his team have developed a cryptocurrency donation program that is currently up and running. They have also started a cryptocurrency endowment.
“We actually hold their bitcoin, Ethereum, hundreds of other cryptocurrencies and that fund grows over time. We just withdraw a small piece of the profit to fund our projects that we’re working on,” Park said.
Loo is pleased with the projects that are in the works and those, such as the cryptophilanthropy initiatives, that are already being adopted at Upbring.
“We really think we have a really bright future for this. It won’t come without challenges and bumps and so on, but we’re going to rock!” Loo said.
It’s all part of what makes Upbring a non-profit organization on the cutting edge of technology with a goal of protecting children.
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