Amidst Coronavirus epidemic crypto charity organizations were erected and brought into action quickly on more than one occasion. It is now anticipated that donations in cryptocurrencies are going to rise. Charities are embracing cryptocurrencies’ technology, traceability, and immutability; this is exactly what charities are looking for, in order to efficiently work.
Charities have been willing to integrate both the crypto projects and crypto donations. Meanwhile, Binance Charity raised millions for charity projects. Moreover, the United Nations agency UNICEF has incorporated blockchain technology in many of its fundraising campaigns.
Crypto Charity on the rise in 2020?
The co-Founder at another crypto charity firm, The Giving Block, Alex Wilson, is optimistic about the future and current incorporation of crypto and charity. He stated that he believes that 2020 would be the year of a turning point for cryptocurrencies’ non-profit adoption.
However, he said that in the past couple of years, donations in the form of crypto have totaled to be hundreds of millions of dollars. When the market is performing well, charities tend to receive more donations.
The #cryptoCOVID19 army has landed! We linked up with @Gitcoin to bring together the most important stakeholders in crypto to fight the coronavirus pandemic. It's crypto’s finest hour. Donate crypto, tweet and RECRUIT friends! https://t.co/96AbuAKRlF Here’s who’s with us so far: pic.twitter.com/LKcN6mrlTe
— The Giving Block (@TheGivingBlock) March 23, 2020
Referring back to 2017, when Bitcoin was at its peak, an unknown do-gooder ‘Pine’ set up Pineapple Fund and donated $86 million in BTC to several charities.
The head of global digital at Save the Children, Ettore Rossetti, is wondering who would be the next Pine. Rossetti hopes that somehow he could persuade some anonymous philanthropist for donating Bitcoin whenever the market experience surges next time.
Back in 2013, when the crypto charity started in response to the Haiyan Typhoon, since then they might not have raised millions of dollars, but tens of thousands of dollars through cryptocurrencies, as stated by Rossetti.
Rossetti believes that this lackluster amount of donation could transform because a $100 donation for starving kids could probably become a $100,000 donation as soon as the price of Bitcoin or any other cryptocurrency reaches its zenith, in case it does.