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The Future of New Philanthropy: Social Media -Laura Templeton Social media is quickly becoming the most popular form of quick communication among people around the world. Even in comparison to one year ago, social media outlets have seen an increase in production, or sharing, of up to 250%. Facebook has over 350 million active users online and over 640 million users worldwide. Wikipedia grew in the past year from having 85,000 contributors, and 14 million articles, to 91,000 contributors, and 17 million articles. For Twitter aficionados, know that you are not alone, as the average number of tweets per day a year ago was 27 million, now Twitter states that there are 95 million tweets written a day; a 250% increase. Truly the new form of communicating is through social media. The power of social media lies in its ability to open gateways of communication from various devices, such as a mobile phone, or computer, across multiple platforms. People are able to share and disseminate information across geopolitical boundaries. Due to the transparent and rapid nature of social media, it has been hailed as one of democracy’s most formidable partners, allowing citizens to unmask human rights violations, political upheaval, or simply connect with others across continents. Social Media Applications for the New Philanthropy: Social media has the potential to be not only life-changing for individuals, but it can also alter the nature of our economic systems. The current economic system is based upon monetary currency; in an attempt to increase the movement of goods and services. This economic system is based on a gift-economy that is once removed; where the gift should be the focus, the love of money prevails. In contrast, the new Philanthronomic system is one that is based not on only monetary currency rather, it is focused on digitizing social currency. Digitizing social currency means that currency will be based on authentic interactions between people. Instead of continuing in a decaying system that is premised on the fallacy that one cannot do well by doing good, social currency is based upon the fact that the most efficient way to do well for yourself is by helping others. At the heart of digitized social currency are personal rankings. People are given personal rankings based on what they have done for others; the positive externalities are more financially appealing to people, therefore decreasing negative externalities. The negative externalities are decreased not only because they do not produce mutually beneficial change, but because it is bad for the pocketbook. If you knew that the success of your career (both socially and financially) would be publically assessed by others, would you not do everything in your power to ensure that your intentions were true, and that you had put forth your best effort? Social media allows us to re-evaluate our monetary system, as currency becomes one's personal social rankings. The cumulative amount of human effort, or Earthizenship, surpasses geo-political boundaries with the application of social media, and most importantly, digitized social currency. Thought social media was a passing fad? Think again. Social media is the digitized social currency platform of the future: Philanthronet 3.0. Author Bio: Laura is a freelance writer with a passion for philanthropy and social media. After completing her undergrad in Journalism and Human Rights, Laura decided to amalgamate the two and write on the world of New Philanthropy. On a summer's day you can find her playing soccer with friends; while wintry days are spent cuddled up with her Silky Terrier by the fireplace with a good book.
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