The world of cryptocurrency is innovative and ever-expanding. In today’s episode of Grow Money Business, we are joined by Pat Duffy, a cofounder of The Giving Block. The Giving Block is a platform that enables non-profit organizations to receive cryptocurrency donations. Throughout the episode, Pat and Grant dive deep into tax efficient crypto gifting, and discuss how The Giving Block is changing the future of charitable giving.
[03:14] The Giving Block – We start the conversation with a brief look at what The Giving Block does and how it helps donors and non-profit organizations to accept cryptocurrency donations.
[07:10] The Process – Pat walks us through the process of what happens when someone interested in crypto gifting signs up with The Giving Block.
[10:00] Donor Advised Funds – Pat and Grant discuss the process of donating via a Donor Advised Fund.
[16:33] Why Crypto? – Pat shares his take on some of the top reasons why non-profit organizations may want to start accepting crypto donations.
[19:05] Barriers – Pat discusses some of the challenges non-profit organizations face when starting to the process to accept crypto donations.
[27:30] Getting Traction – Pat shares with us what it was like at the beginning of his service and what it took to get enough traction for the service.
[31:30] Business Model – Pat shares with us how the business model of the Giving Block works and some of the areas the platform will be expanding into in the near future.
[36:52] Managing Growth – Pat dives into their strategy of managing their growth.
[42:54] Shift4 – The Giving Block was recently acquired by the payment processing solutions company, Shift4. Pat shares what opportunities and possibilities this acquisition will open up.
[49:10] Tips for Donating – Pat shares some advice for those who own crypto assets and want to partake in tax efficient crypto gifting.