Today we will review a company that has just been announced: Givecrypto.org. This company’s mission is to help the world via charitable giving by using cryptocurrencies. With the mission of empowering people by distributing cryptocurrency globally, the company intends to raise funds and distribute small payments all over the world.
Why Was GiveCrypto.org Created?
This company was created with the goal of helping the people who need help the most, especially in areas which are living financial crisis and in emerging markets. The goals of the company are to help by sending money directly, provide universal access to a financial system that is fully open and decentralized and advancing the real-world usage of cryptos.
The creators of GiveCrypto.org decided to create this company right now because the market is booming but a lot of what is happening in the market is still speculation with cryptocurrencies. Because of this, they have decided to start to make a difference.
As companies like Ripple are investing in philanthropy, the company knows that there is some space for this in the market right now. This company was created as a non-profit alternative for the people who hold crypto and intend to distribute some of it to help others.
Direct cash transfers are a good way to donate. However, before cryptocurrency, people did not know what would be done with their money and it if would really reach its destination, but things are considerably easier now that there are so many choices and the technology to track the payments better.
How Will GiveCrypto.org Work?
Basically, this new platform will act as a way for people to donate and give their money to people who need more. The company is currently building a structure to support the payments and track them.
After people receive the cryptos, they can cash the money out to use it to buy goods, hold it in case they believe in the potential of the crypto so they can even get more money or use it in the crypto market to make transfers.
The main idea of GiveCrypto.org is to empower people financially twice. First, by giving them money and then by enabling them to participate in this emerging space.
The GiveCrypto.org Fundraising And Team
This project was created by Brian Armstrong, known as the co-founder and CEO of Coinbase. The company intends to raise $10 million USD in funds. At the moment, it already has $3.5 million USD from private investors including Armstrong himself, which donated $1 million USD to the company.
— Brian Armstrong (@brian_armstrong) June 27, 2018
With the money raised from donations, the company will hire professionals to create the platform and improve it. Also, ambassadors will be chosen. They will be local volunteers that are going to help the company.
Once the company has already proven itself, the idea is to get about $1 billion USD in donations two years after the platform is launched.
The GiveCrypto.org Verdict
It is obvious to us that this initiative has a lot of potential to be explored by the people who are in the market. The platform, while non-profit, will possibly be a big one. You can perceive that by just looking at the people involved in this idea like its creator Brian Armstrong. Because of this, you can donate to this startup being sure that it will really see the light of day.