Bitcoin Charities: Forward Thinking for Future Charities
Bitcoin is changing the way we think about money and transactions, and during its brief existence has changed the way not only businesses operate, but has also been instrumental in setting new standards for charities. The cryptocurrency gets a bad rap as being a tool of drug dealers or other unsavory criminal elements, but it has changed thousands of....
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The benefits of blockchain technology are creating new operating models for many types of organizations. Charities, which manage large amounts of money, require complex accounting and conduct a lot of research, have much to gain from blockchain technology as digital transactions and smart technology increase. The Charities Aid Foundation (CAF), based in London, U. K., recently released a 20-page report, "Giving Unchained - Philanthropy and the Blockchain," which examines how blockchain technology will affect the way charities raise money and operate. The report presents an example of how....
Giving to charities has been one of the highlighted use cases of crypto-currency. The Dogecoin community is known for its philanthropic campaigns; some of the world’s largest charities have started accepting Bitcoin donations as well. Now, there is Charitycoin, a crypto-currency designed to incentivize Bitcoin donations. Charitycoin.co.uk has compiled a list of over 10,000 charities, including Amnesty International UK and The Salvation Army. Charitycoin will match each English pound worth of Bitcoin donated to one of the 10,000 charities with an equal donation through Just Giving, a social....
A group of hackers has donated some of the bitcoin it extorted via ransomware attacks to charities, claiming that it wants to “make the world a better place.” However, the law says donations from ill-gotten gains must be rejected but charities have no way of returning donated bitcoin to the hackers. Hackers Donate Bitcoin to Charities A group of hackers known as “Darkside” has surprised the world by donating a portion of the proceeds from ransomware attacks to two charities, the BBC reported Monday, adding that the group is relatively new on the scene. Darkside....
Charities supporting children’s causes, victims of humanitarian disasters, the environment, scientific research or the arts raise millions of dollars in donations each year. Yet, while generous contributions continue to be made around the world, public trust and confidence in charities has been reported at its lowest recorded level. According to a 2016 report from UK Fundraising, a survey of over 1,000 people found that trust in charities has fallen from 6.7 out of 10 in 2014 to 5.7 in 2016. The main reasons for this decline are distrust in how charities spend their donations, a lack of....
Major U. S. charities are increasingly allowing donors to contribute in bitcoin. The Wall Street Journal on Monday explored why charities such as the American Red Cross, Greenpeace and Save the Children are accepting bitcoin in an article titled, "Brother Can you Spare A Bitcoin?" The report ran in the newspaper's "wealth management" section. In late 2012, when bitcoin was at its peak value, nearly 30 charities raised more than $1 million in a "Bitcoin Black Friday," according to a spokesperson for theBigGive Foundation, which organizes charitable activity among bitcoin users. The....