Charitable and non-commercial organizations realize quicker than anyone else the benefits of cryptocurrency and possibilities of blockchain, a technology that makes work more efficient.
Crypto charity: pros and cons
Public funds operate all over the world. Talking about donations, money transfers take time, and transaction fees can be quite high. Blockchain reduces costs and cuts time. Unfortunately many people are afraid to use the latest technologies not knowing about their potential. But cryptocurrency transfers are good for donations. Although the donator’s name remains unknown (bitcoin is anonymous). But it’s a plus for the majority of benefactors. Thus, when raising funds for documentary about bitcoin they wished to remain anonymous.
Crypto benefactors among us
The concept of donations in bitcoin requires some kind of promotion.
Founders of startup project Cubits tried to promote bitcoin charity. But results were not worth the trouble. The project itself is important, its timeliness and target audience. Thus, Kiev-based group of volunteers, working with refugees from the east, got help from the English artist in bitcoins.
Charitable donations in bitcoins are easier and more practical, and at the same time more secure than those made with the help of credit card. You open up your wallet, scan the QR-code and everything is ready. Everything is more complicated with bank card, entry of data makes you doubt about security.
Forklog project often invests its own money and functions thanks to donations from readers made in bitcoins.
Global experience of bitcoin charity
There are enough examples of using cryptocurrency for charity events. Within the program “Bitcoin against Ebola” donations were made in cryptocurrency.
Greenpeace has signed an agreement with BitPay in order to accept digital currency, and United Way Worldwide, focusing on education and health, has announced that it accepts cryptocurrencies now.
UNICEF is also planning to support blockchain initiatives.
Mining projects have also joined charity: Charitycoin, Doabitofgood.
Charity is important for bitcoin as well. Bitcoin’s reputation suffers from time to time, and recognition by widely known organizations will have a positive impact.
