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It's time for the philanthropic sector to adopt digital currency

4 min reading

Crypto is growing rapidly, it is the need of the hour and it needs to be a part of every sector for its own good.

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The number of cryptocurrencies on the market rose from 500 in 2014 to nearly 7,000 just seven years later, in October 2021. It is reported that 14% of people in the United States – approximately 21.2 million – buy some form of cryptocurrency, with over 300 million cryptocurrency business owners in the United States. the whole world.

It's clear: Cryptocurrencies will still exist and the road to global recognition and success is just beginning. I previously talked about how and why the innovative longevity and biotechnology sectors need to partner with digital currency visionaries to validate their future work. Cryptocurrency founders, CEOs and buyers have broken down barriers and contributed to a more decentralized future in their daily lives. By giving people access to a wide range of assets and investment opportunities beyond traditional financial offerings, the cryptocurrency business industry is creating a future based on innovation.

I see no reason to sustain this innovation in these technology-oriented sectors - the world of philanthropy can and should also benefit. Accepting donations in cryptocurrency is a clear first step that demonstrates to the public at large that an organization is aware of its importance and is ready to use destructive technology.

Also read: A 5-year study examines whether symbolic rewards can improve outcomes for HIV patients in Africa

Philanthropic Initiative

Several philanthropic initiatives in the area of our longevity have already done so. SENS Research Foundation is a leading longevity research organization dedicated to researching, developing and promoting comprehensive solutions for age-related diseases. By educating the public about new developments and attracting trained donors, the SENS Foundation supports projects for the treatment of heart disease, cancer and Alzheimer's. In particular, he makes cryptocurrency an integral part of his business. SENS accepts donations in 72 different cryptocurrencies, from Bitcoin (BTC) and Ether (ETH) to Dogecoin (DOGE) and Aave (AAVE).

In 2018, Vitalik Buterin donated $2.4 million to the ETH Foundation, and other crypto visionaries followed suit. Richard Hurt, founder of HEX, started the Airdrop in partnership with SENS, urging consumers to donate some of their cryptocurrency and get involved to win the new cryptocurrency Heart PulseChain. The PulseChain airdrop has raised more than $25 million to support the foundation's work, which is living proof that cryptocurrency collaboration and longevity can be a very powerful tool.

It would be remiss to ignore the recently announced Longevity Science Foundation, which I helped manage. We accept donations in all major cryptocurrencies and plan to work with leading companies in the crypto industry to establish a decentralized and transparent way of funding. As all donors, including crypto executives, have a say in the foundation's funding decisions, the foundation is committed to supporting projects that reflect the world's most visionary viewpoints.

But of course, accepting cryptocurrency donations is not a phenomenon confined to non-profits and longevity foundations. The founder and the rest of the fundraising team realized the incredible power of cryptocurrencies and the decentralization that comes with it. For example, The Giving Block provides tools for any non-profit to accept donations in cryptocurrency and makes it easy for philanthropists to make donations in their favorite digital currency to over 400 organizations such as the American Cancer Society and No Kid Hungry.

Several other non-profit organizations around the world including St. Children's Research Hospital. Paul. Jude and World Relief followed suit. If this global organization, known for its outstanding community service and goals, can embrace cryptocurrency and the donors behind it, so can other non-profits.

Call to action

It is time for the philanthropic and non-profit sectors to recognize the potential of digital currencies. Longer life expectancy and many other great achievements can be achieved, but support from various industries and minds is essential.

Adopting principles from the crypto industry such as decentralization and tokenization can enrich these foundations and modernize their operations, while accepting donations in cryptocurrencies helps innovators and changemakers make great progress. Together we can build a better future with all our instruments (and currencies!).

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