There is a growing number of blockchain-based services dedicated to improving the donation systems of non-profit organizations. This explains why more and more associations are using these services and accepting cryptocurrency donations. We saw this with crypto donations during the war in Ukraine and more recently in aid of the victims of the earthquake that struck Turkey.
Donating in Bitcoin (or other cryptocurrencies) is now becoming commonplace. It turns out that donating in crypto is much simpler than in traditional currency. This is because there are no geographical barriers and the payment is instantaneous (no trusted third parties such as banks are needed to validate a payment, for example).
Charities generally (and by definition) operate through the system of donations and volunteering. However, despite the deeply ethical nature of this type of entity, numerous corruption scandals have tainted the charitable world. There were indeed problems of transparency in the management of funds and money laundering operations were much more frequent than one might believe.
It is in this delicate area that blockchain proves effective and useful for solving this type of problem. We have selected 5 services using cryptocurrencies that greatly improve the organization of charity and philanthropy.
Giving Block: The turnkey solution for all associations
The Giving Block is undoubtedly the number one crypto donation solution, being the most comprehensive platform currently on the market. In fact, The Giving Block offers the ideal gateway for existing nonprofits seeking cryptocurrency funding. Donations can be made in Bitcoin, ETH, or even stablecoins . The platform is highly regarded because it boasts a comprehensive catalog of international nonprofits and NGOs for anyone wishing to send cryptocurrencies.
Users can choose the sector of associations or search directly for the name of their chosen organization. There are associations from all sectors and supporting all causes, such as the Human Rights Foundation , RefugePoint, and MusiCounts. Founded by Pat Duffy and Alex Wilson in 2018, the platform has successfully attracted many of the best-known NGOs.
This is explained by the remarkable simplicity of registering your association on the platform and having widgets to install on your own site. In just a few clicks, thanks to The Giving block, all non-profit associations in the world can accept donations in cryptocurrencies, without even having to resort to the services of an IT specialist.
Giveth: Building altruistic decentralized communities
With Giveth , the charitable sector is embracing decentralization. In most cases, charities use a third-party service to receive funds. With Giveth, this system becomes decentralized, allowing donors to send funds directly to beneficiaries. It's a rather radical new way of thinking about giving.
With the name, we immediately understand that the open source platform is based on the Ethereum blockchain. When a person makes a donation, they receive the platform's utility token: GIV token. This then makes it possible to create incentives for participants who can make them grow through Yield farming for example.
The platform was designed to accommodate different distinct roles including donors, delegated members who are the ones who allocate funds on behalf of donors and then the “makers” who control the beneficiaries of the funds. This way, everyone can participate and play the role that suits them.
BitGive: Make donations and track nonprofit spending
One of the biggest problems for associations is monitoring the management of donations. We cannot know how the association uses the money received. To provide transparency, BitGive is a service that allows associations to receive donations on the one hand and share tracking with donors.
BitGive has now helped and collaborated with more than 30 non-profit organizations in 29 countries.
Formerly, BitGive also developed GiveTrack which allows donors to make bitcoin donations. The tracking is such that even if the bitcoins received are converted, donors are informed. All operations are recorded and posted online, accessible to all donors.
As an association progresses in its road map, donors have access to the changes and the different operations carried out.
GiftCoin: Make donations without fees
Charities have rather restrictive options for receiving funds. In traditional finance, if an association wants to set up a system to receive funds, it can use services like Giving.com. The latter charges 5% of commission fees. Associations can also opt for crowdfunding platforms like HelloAsso which also charges commission fees.
Giftcoin allows charities to receive funds without paying high commissions. Giftcoin charges only 1% of the commission fees, which is one-fifth of what other similar services charge.
In addition to being an accessible service, Giftcoin also allows you to trace and monitor the use of funds by associations. Donors can see and track how the money received is used.
The future of crypto giving
We know that the need for transparency is becoming increasingly important and necessary for the charitable sector to continue growing sustainably. We also know that crypto holders are particularly supportive of the donation system. We have seen time and again that the crypto community can show solidarity with certain causes, whether political or humanitarian, for example. The Dogecoin community was the first to make generous donations to support its members.
Thus, the sites and platforms that we have just seen will most certainly participate in the joint growth of crypto donations but also improve the existing system of charity and benevolence.
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