Bail Bloc Initiative Donates Monero (XMR) Cryptocurrency To Help Immigrants In the United States
According to a Tweet uploaded by Maya Binyam, Bail Bloc co-founder, since one year they are using users’ computing power to help people out of pre-trial incarceration.
Now, they are launching Bail Bloc 2.0 that will be using spare computing power to get people out of ICE detention.
Exactly one year ago today, we launched Bail Bloc, which has been using your spare computing power to get people out of pre-trial incarceration. Today we're launching Bail Bloc 2.0, which uses spare computing power to get people out of ICE detention. https://t.co/ZNaSw5pSQe
— Maya Binyam (@mayabinyam) November 15, 2018
The U.S. Immigration and Customes Enforcement (ICE) is a law enforcement agency that monitors cross-border criminals and illegal migrations. Back in 2017, the agency was able to arrest 143,470 individuals. 92% of them were convicted or resulted in a pending criminal charge.
Those at the ICE have to pay an immigration bond in exchange for their immediate release. Nevertheless, just 47 per cent of those detained have the bond hearing. Those individuals that are not able to pay the bond have to wait the hearing detained. In some cases the waiting could last months or even years.
This is why the Bail Bloc initiative has set a goal in order to help charged immigrants to pay for their bail. However, individuals that want to donate can do it through cryptocurrency mining activities. An application developed by Bail Bloc allows users to mine Monero (XRM) with their computer power.
The power provided by interested participants ranges between 10 to 50 per cent of the total computer power.
Monero is one of the largest virtual currencies with a market capitalization of $1.43 billion dollars. It is possible to mine this cryptocurrency using CPU or GPU power. Bitcoin, instead, requires specialized machines known as ASIC miners that consume a lot of energy and are very expensive to purchase.
Every single month, the organization seels the XMR tokens for U.S. dollars and donates the funds to the Immigrant Bail Fund in Connecticut. The company informs that they were able to mine 44.34 XMR, equal to $7,356 dollars. With these funds they are able to bail out 12 people.
At the time of writing this article, Monero is the 10th largest virtual currency and each token can be purchased for $86.45 dollars.