The Royal Australian Mint Debuted a Coin That Aims Encourage Donation
Kalin Ned — September 22, 2020 — Social Good
References: ramint.gov.au
Donation currency is being deployed as a solution to help charities and individuals amid the COVID-19 pandemic. The Royal Australian Mint recently unveiled the ‘Donation Dollar,” which was launched in September, coinciding with the International Day of Charity. Around 25 million of these coins are planned to be produced over the next few years. Through this, The Royal Australian Mint is hoping to motivate more people to give to charity.
The design of the donation coin is symbolic—each of these unique coins boasts a green center with a gold ripple. This is intended to showcase “the ongoing impact each donation makes to those who need it.” The decision about the innovative concept was backed by a survey and it “comes after a tumultuous year for Australia - having faced a bushfire crisis, an ongoing global pandemic, and an economic recession – leaving many Australians in need of a helping hand.”
Image Credit: Royal Australian Mint
The design of the donation coin is symbolic—each of these unique coins boasts a green center with a gold ripple. This is intended to showcase “the ongoing impact each donation makes to those who need it.” The decision about the innovative concept was backed by a survey and it “comes after a tumultuous year for Australia - having faced a bushfire crisis, an ongoing global pandemic, and an economic recession – leaving many Australians in need of a helping hand.”
Image Credit: Royal Australian Mint
Trend Themes
1. Donation Currency - The use of donation currency is a disruptive innovation opportunity for charities and individuals to encourage giving amid the COVID-19 pandemic.
2. Unique Coin Design - The innovative design of the 'Donation Dollar' coin presents an opportunity for the Royal Australian Mint to inspire more people to contribute to charitable causes.
3. Motivating Donations - The introduction of the donation coin by The Royal Australian Mint creates a disruptive opportunity to motivate individuals to donate to charity, especially during challenging times like the COVID-19 pandemic.
Industry Implications
1. Charitable Organizations - The rollout of donation currency presents an opportunity for charitable organizations to leverage this innovative approach for encouraging donations and supporting their causes.
2. Coin Minting - The production of unique donation coins by The Royal Australian Mint opens up a disruptive opportunity for the coin minting industry to create new collectibles that drive philanthropic giving.
3. Financial Technology - The use of donation currency highlights a disruptive opportunity in the financial technology industry to develop platforms and systems that facilitate seamless digital donations and tracking of charitable contributions.
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