This morning's WSJ, as well as in the first hour of NPR's Morning Edition,
stories ran on Facebooks' entry into the world of cryptocurrency. The
short version of the story is that Facebook is creating a new company,
Calibra, to manage all aspects of the new currency to be named Libra. The
company will also create a new crypto wallet to exchange Libra and make
online purchases.
I've urged organizations not to get to mention specific cryptocurrencies in
their gift acceptance policies and address general guidelines for the
acceptance of cryptocurrencies. I will reiterate this during my updated
gift acceptance discussion at the Midwest Meeting of the Minds conference.
Of course, if there is a cryptocurrency form you refuse to accept, that
*should* be mentioned in your policy. But if you have been listing
currency types, you will want to include Libra in your next edition. You
have plenty of time - Libra will not be traded until 2020 when Facebook
releases an app through Messenger and WhatsApp for this.
Unlike Bitcoin, Libra will be backed by hard assets - a "stable coin" -
that could cause more mainstream customers to join the cryptocurrency
world. As such, I expect we will see a growth in crypto donations over the
next several years.
John
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Join me for 2-days of Advancement Services programming at the
Midwest Meeting of the Minds conference this August!
http://midwest-motm.org/