Interested in Philanthropy? Now Make Your Donations in Bitcoin
For the philanthropist inside you, there is great news! Prominent charities running across the globe have now started receiving donations in the digital currency Bitcoin. Among the leading charities that have started embracing Bitcoin as a mode of soliciting funding are Save the Children, Greenpeace and American Red Cross. Ettore Rossetti, Director, Social Media and Digital Marketing at Save the Children said, "There is a sense that this is growing in acceptance in the nonprofit sector." Save the Children became a beneficiary of Bitcoin donations in fall 2013 and has since raised nearly....
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The BitGive Foundation — celebrating its 2nd Anniversary — is asking for donations to fund its mission to demonstrate the social value of Bitcoin to people around the world. To encourage donations, BitGive will hold an online auction on the occasion. Connie Gallippi, Founder and Executive Director of BitGive, took an early leadership role in Bitcoin philanthropy, founding BitGive in mid-2013. Gallippi aims to spread the knowledge about Bitcoin across the world. Pursuing the goal, the organization is organizing a fundraiser through an auction that will support the BitGive in its efforts.
Blockchain networks are decentralized, meaning that they can be used to make payments without centralized authorities deciding which transactions are allowed. While some argue that such systems can enable fraudulent transactions, blockchain networks use advanced mathematical technologies called consensus mechanisms to prevent this. Thus, blockchains can be used by peers to transact without fear of fraud or censorship. In turn, cryptocurrency enables individuals to easily support the causes that they believe in, even when reaching affected groups through traditional means may be difficult.....
This tax season, it may be worthwhile to consider making a bitcoin donation to reduce one’s taxes through philanthropy.
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....