Commitment and transparency – The amount of cryptocurrency donations exploded in 2021, with growth of more than 1,500%.. Today, blockchain and cryptocurrencies would be essential tools that help support the activities of charitable organizations.
>> Want to add cryptocurrencies to your wallet? Register on Bitget (commercial link) <
Young and generous donors: cryptocurrencies, a funding lever for charities
According to the statements ofAlex Wilson for Cointelegraph media, people donating in cryptocurrencies are among the more generous donors. The average amount of these donations would exceed $10,000. Alex Wilson is the co-founder of the cryptocurrency donation platform You Give block.
Cryptocurrencies could therefore be considered as a funding lever charitable activities. United Way all over the world, Feeding America and theUNICEFwhich are the top three charities in the world in terms of donations received, they also accept payments in cryptocurrencies.
In addition to benefiting from relatively large donations, these cryptocurrency-friendly organizations could do so engage more easily younger donors.
Indeed, the co-founder of Tokens for humanity, Bryce Thomasindicated that most of the people who use cryptocurrencies are elderly from 18 to 35 years old. Tokens for Humanity is an Australian organization that develops blockchain applications for the charity sector.
Bryce Thomas also highlighted the interest of the blockchain, underlining that the technology allows us to evolve towards greater transparency and accountability for non-profit organizations.
Head of New Products and Innovation at UNICEF Australia, Zunilka Whitnallshares this point of view. He believes organizations should use blockchain technology to improve transparency of their fundraising towards the general public.
However, according to Zunilka Whitnall, many charities still have it understanding the gaps blockchain and how it works.
Despite these hurdles to the mass adoption of blockchain and cryptocurrencies in the industry, several non-profit organizations based in different countries have already taken a first step into the web3. This is especially the case with this Foundation which finances the fight against cancer in France.
The events of last week and the failure of FTX are there to remind us that we must remain cautious in this still very young ecosystem. Get into the habit of a healthy distrust. To buy your cryptocurrencies, register now on Bitget and start learning about the exciting world of blockchain technology (commercial link).