ZoneBitcoin EditorialAssociations are increasingly using cryptocurrencies in their operations. And that’s really a good thing!
It's true that we tend to always talk about cryptocurrencies from the perspective of financial speculation. Certainly, it remains very interesting for earning money, we're not going to lie. Quite clearly, many crypto users do it because there is an opportunity to make a profit. That said, there is also a cryptographic use that can be described as philanthropic. And that feels good.
I really wanted to write this article because too often, the media report scams and stories of fallen crypto-millionaires when they talk about cryptocurrencies and bitcoin. In reality, there are also very good things done with it and particularly in the humanitarian field.
Blockchain to improve donations to associations
Between investment portfolios, crypto trading, scams of all kinds, we don't talk much about acts of charity. The image of bitcoin has been tarnished by numerous abuses, particularly by dishonest people who took advantage of the flaws to steal. But, fortunately, other people create projects and platforms with a philanthropic vocation.
There are many associations today. Among all these non-profit organizations, it is not really easy to raise funds. However, it is the crux of the matter as you know. In fact, for an association, everything is more difficult. There is no profit to speak of and they depend on the kindness of donors. A weaker communication campaign can prove fatal for an association. To survive in this unforgiving world, charities clearly need the right tools to collect donations.
Of course, cryptocurrency donations have gained popularity in recent times, as we have seen with the victims of the earthquake in Türkiye in 2023. Similarly, "millennials" or the younger generation are used to paying online for services and products. Similarly, the biggest users of cryptocurrencies remain millennials. It is in this logic that these same millennials are more inclined to finance an association by paying in cryptocurrency. This is how many associations have started to accept bitcoins and cryptocurrencies.
To facilitate crypto-currency donations, many companies working in the blockchain have looked into the problem. Here are the three major platforms for sending donations in cryptocurrencies.
BitGive
BitGive is a platform that was created in 2013 and is the first non-profit bitcoin donation to appear in the world of blockchain projects. The goal of BitGive is to give charities (of all sizes) an easier tool to receive Bitcoin donations. Already establishing key partnerships with renowned associations, foundations and non-profits, including Save the Children and The Water Project, BitGive also wants to help smaller associations.
Thanks to this donation platform by BitGive, non-profit organizations can receive the funds they need to finance their works. You will tell me that there is no real difference with donations in traditional currencies. Well, no, know that thanks to the blockchain, we can also play on other essential elements. Among them, we have the notion of responsibility and transparency.
Indeed, people often refrain from donating because they are skeptical of associations. We have heard too many times stories of deception and theft. So, very often, we do not give to associations because we are not sure that the money will be used well. On the other hand, with BitGive, we have the financial information of the organization that receives the donations. In real time, one can see where and how the money is used. It must be admitted that this provides a significant additional guarantee for donors.
AidCoin
It is a recent platform in the field of cryptocurrency donations. The AidCoin platform differs from BitGive because it created its own cryptocurrency. That said, the principle is the same: allowing people to financially help associations via cryptocurrency. Likewise, the concern for transparency and responsibility is also present on AidCoin. However, let's note the few major differences.
AidCoin is based on blockchain Ethereum and donors must purchase the AidCoin token to be able to send any. AidCoin therefore aims to unite small associations with potential donors to help them raise awareness. It facilitates online donations in an anonymous and simplified way.
It is also a fantastic tool for associations as fundraising management is simplified and centralized on the same platform.
CommitGood
Commit Good is this time, closer to crowdfunding platforms. It is different from other platforms because it also launched its own cryptocurrency: $GOOD. The platform works with voting. CommitGood a grant of $10,000 per month to the association that received the most votes from users of the Commit Good platform. This is a huge advantage compared to other systems because the platform will no longer need to search for funds for the entire period in which it receives funds.
Likewise, each association can register on the platform and introduce themselves.
With more than 3 billion people still living below the poverty line worldwide, much work remains to be done. But, thanks to transparent platforms using blockchain technology, it can be assumed that this will improve.
Once again, we see how blockchain could solve many other problems other than financial problems.
