The Philanthropic Potential Of Virtual Currency

Hello world! It is indeed a brave new world when it comes to virtual currencies. In our first blog post, we will share our visions and explain some of the thinking behind the Blockchain Philanthropy Foundation.

As a technologist and libertarian, I believe the ultimate philanthropic potential of virtual currency lies not just in creating a new source of wealth and saving transaction costs, but achieving deeper humanitarian goals.

I love the story of Digital Citizen Fund, the charity that used to be a blogging platform for women in Afghanistan, and now operates around the world to provide digital literacy and internet access to the developing world.

When they first started out, paying their bloggers was a challenge, since not only can fees to wire money to Afghanistan come to as much as 20%, but many of the women blogging on the site could not easily hold on to cash or open bank accounts without their families finding out. Now, the bloggers are paid in Bitcoin, which they can receive more discreetly, thus securing their economic empowerment.

Freedom should not have a price. That’s why Blockchain Philanthropy Foundation are empowering more non-profits to do more with virtual currency.

Our initial plans:

  1. Create an online virtual currency fund raising platform. We are committed to bringing the charities/causes that are close to your heart to the world of virtual currency.
  2. Build a strong community around virtual currency in the non-profit sector. There will be meetups, conferences, training programs etc. to foster sector-wide conversations.
  3. Work with various stakeholders including government to advance virtual currency adoption within the charity sector. We have seen good progress with IRS stating cryptocurrencies should be treated as property and Australia government’s planning on the end of double taxation. But we also acknowledge that there are still a lot of work to be done in this space.
    Build up infrastructure and applications that will facilitate the adoption of virtual currency.
    People want to make donations and transactions using a virtual currency. We want to be there for you when it’s your turn!

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