Engagement and transparency – The number of cryptocurrency donations exploded in 2021, with more than 1,500% growth. Today, blockchain and cryptos would be essential tools that help support the activities of charitable organizations.
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Young and generous donors: cryptos, a funding lever for charities
According to the statements ofAlex Wilson according to the Cointelegraph media, people who donate in cryptocurrencies are among the most generous givers. The average amount of these donations would exceed $10,000. Alex Wilson is the co-founder of the cryptocurrency donation platform Tea Give block.
Thus, cryptocurrencies can be considered as a leverage for financing charitable activities. United Way worldwide, feed America and theUNICEFthe top three charities in the world in terms of donations received also accept crypto payments.
In addition to benefiting from donations of a relatively high amount, these organizations open to cryptocurrencies would be able enter more easily younger donors.
Indeed, the co-founder of Tokens for humanity, Bryce Thomasindicated that the majority of people using cryptocurrencies are older 18 to 35 years old. Tokens for Humanity is an Australian organization that develops blockchain applications for the charitable sector.
Bryce Thomas also emphasized the importance of the blockchain, stressing that the technology enables it to evolve more transparency and accountability for non-profit organizations.
UNICEF Australia Head of New Products and Innovation, Zunilka Whitnall, shares this view. She believes that organizations should use blockchain technology to improve transparency of their fundraising towards the general public.
However, according to Zunilka Whitnall, many charities still do understand gaps blockchain and how it works.
Despite these obstacles hindering the mass adoption of blockchain and cryptocurrencies in the industry, several non-profit organizations in different countries have already taken their first step on the internet3. This is especially the case with this Foundation that finances the fight against cancer in France.
The events of the past week and the bankruptcy of FTX are there to remind us to remain cautious in this still very young ecosystem. Make it a habit to have a healthy distrust. To buy your cryptocurrencies, sign up now on Bitget and get to know the exciting world of blockchain technology (commercial link).