Charities Joining the Bitcoin Space: A Look at #BitcoinTuesday and Crypto Donations
It is Thanksgiving week, and naturally, the topics of charities and giving are of pertinence. Several charities have made use of blockchain in their giving operations. Here are a few of the charities that have included blockchain in their operations so that donors can do things such as track where their donations are going.
Alice describes itself as a financial platform for measurable impact projects. It is designed for investors, governments, and nonprofit fund projects, which can track their data and transaction costs during the process. The platform’s infrastructure is based on the blockchain and it permits anyone to create and monetize social funding applications. Although Alice is not itself a charity, it provides participants the ability to track and manage their investments better.
The Pineapple Fund
The Pineapple Fund explains on its website that it was an experiment in philanthropy with cryptocurrency wealth. The creator decided to donate the majority of their cryptocurrency to charities worldwide. The 5104 BTC that was donated was turn into $44 million for charities. The individual has since remained anonymous.
Aidcoin is another platform that is working on building multiple blockchain solutions to revive trust in the charity sector. Meaning, donations may become more trackable and efficient. Aidcoin features the Aidcoin, which provides an ecosystem of services with its easy-to-use interface that connects nonprofits, promotes transparency, and donations traceability. According to the platform’s website, charities and causes can register and get verified to receive donations, cryptocurrencies can be converted to Aidcoin, and donations can be tracked both on and off chain.
The Giving Block
The Giving Block is another platform that specifically focused on #Bitcoin Tuesday. The platform’s website explains that it is a solution built just for nonprofits that allow for automatic conversion of crypto to USD, which can avoid price volatility, and it allows users to meet and work with top projects in crypto and blockchain. The platform’s Giving Tuesday project enabled members to join the largest crypto fundraising platform with 100+ nonprofits.
Crypto Giving Tuesday
Lastly, there is Crypto Giving Tuesday, which enables users to donate crypto to charity. On Giving Tuesday, users could find NGOs and charities that accept Bitcoin, Ethereum, and other cryptocurrencies. The areas to which users could donate include education, health, hunger, and environment. Woodrow Rosenbaum shared with Coindesk,
“Some of these big payment processor platforms like Facebook and PayPal use GivingTuesday as a great way for them to engage [with their audience]. So we'll give people best practices. We want to hear how their campaigns went, learn about their results and bring them into that network.”