Social sector organizations dip their toe in the waters of digital currencies — like Bitcoin — but are we ready for the implications?

The inspiration for this month's Emerging Idea was brought to us by Melanie Emmanuelli, Director of Grants Management at Lawrence Hall Youth Services, and was taken from news that United Way Worldwide is now accepting new Bitcoin donations.

Never let it be said that nonprofits aren't hip to the newest thing. In recent months, we've read news about social service organizations accepting Bitcoin donations.

Proponents like the access to a new type of donor: those who want to do good locally with globally accepted digital currency. Also, there are no transaction fees for Bitcoin donations if they are converted into dollars through a processor like Coinbase. Skeptics point to the currency's volatility (the price of a share of Bitcoin on global exchanges was once $1000 and now hovers around $380) as well as possible connections with 'shadow markets.'

I don't think the real story here is about Bitcoin, per se. I think the real story is how the genie of the social sector has escaped the bottle and is showing up in unexpected places. We are resourceful, adaptive, and — dare I say it? — risk takers!

What do you think? Is there room in the social sector for these new technologies? Or are we chasing phantoms because of the very real challenges facing the sector? Share your ideas below by clicking on "add new comment" (log-in required).

— Delia Coleman, Director, Strategic Initiatives

* It's a contest! Got an emerging idea?
Do you have a finger on the pulse of ideas that make a person go "Hmmm. . .?" Submit a compelling idea to us and if we highlight it as an Emerging Idea, you win a prize! This month, Melanie Emmanuelli will be able to treat her friends at a fine coffee or tea establishment. Send your idea to me at [email protected], and together we can curate some of the best content for our community — by our community.