DLT offers donations the monitoring of the benefits of transparency

August 30, 2018 Bitcoin

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Blockchain For Charity "title =" Blockchain For Charity "/> </div> <p> Here are seven questions you might have that should answer everything you need to know about the connection between blockchain technology and charity. </p> <h2> 1. It's Already can donate the crypt to charitable causes </h2> <p> Yes, non-profit organizations are always looking for new ways to attract people to their cause Crypto offers a possible way: Crypto investors can use their cryptocurrency assets to Supporting causes Crypto donations can be a good way to avoid capital gains taxes if a cryptic asset increases in value. </p> <p> Fidelity Charitable recorded a record $ 69 million in cryptocurrency donations, 10 times higher than the 39. previous year: increased donations with an increase in the value of Bitcoin.Fidelity also says that cryptocurrencies have allowed new donors to contribute to those who do not He did it in the past. </p> <h3> 2. Can Cryptocurrencies Be Mine d For charitable reasons? </h3> <p> Some charities have explored this idea with some degree of success. For example, UNICEF launched an initiative in 2018 called Game Chaingers that encouraged those with graphics cards on their PCs to extract Ethereum. About 12,000 computers (mostly players) were involved, for a total of 85 ETHs, equivalent to about $ 35,000, which was sent to children affected by the civil war in Syria. </p> <p> This has become a way in which charitable organizations involve people who have not made contributions in the past. However, since mining can be detrimental to the environment due to the energy involved, charities must pay attention to these efforts that have a negative impact on the world. </p> <h3> 3. How do you know that cryptographic donations are used correctly? </h3> <p> Blockchain technology has the ability to improve transparency and accountability with charitable organizations. Smart contracts help ensure that funds are released to an organization only after having demonstrated that their work has a positive impact. If they do not meet certain goals, donations can be withdrawn. </p> <h3> 4. Why is it that some people do not trust charitable organizations </h3> <p> Unfortunately, there have been some noteworthy stories about charitable organizations that have misused funds. There is also a lack of confidence due to the way some organizations are asking people to make donations. In the past, some organizations lacked transparency regarding the allocation of funds. With charitable organizations, people want their donations to go to the cause and not to senior managers, who sometimes suffer a big cut. </p> <p> Blockchain, however, may be part of the solution. The technology allows you to publicly monitor the finances of a charity organization. This not only imposes responsibility, but can also remove the intermediary (that is, the banks) and allows funds to go directly to those who need it. However, many charitable organizations are already genuine and transparent. They also do a great job to draw attention to worthy causes, and therefore will not be replaced entirely by blockchain technology. </p> <h3> 5. Will the Blockchain help the charitable organizations cut the administrative costs? </h3> <p> As many people already know, administrative costs and fundraising are two huge costs for charities. Blockchain has the ability to reduce transaction fees associated with donors who transfer funds to charitable organizations. This is particularly true for international organizations operating cross-border. In this sense, blockchain can help maximize the amount of money going to the cause. </p> <p> Blockchain organizations are also working to develop APIs instead of creating their own platforms. This can be particularly useful for small non-profit groups, as they do not have to spend much money on infrastructure development, but to reach even more potential donors. </p> <h3> 6. Who benefits from greater transparency with charities? </h3> <p> More transparency usually brings more peace of mind to donors. After all, they often donate to the causes they are passionate about, and therefore they want most of their money to be put to good use. However, transparency can also prevent charitable organizations from being excluded from unnecessary funding. </p> <p> For charities that send money to countries where terrorism is prevalent, it is possible that their bank accounts are closed because banks do not want to be accused of failing to stop terrorist financing. However, blockchain can help you create better registration of money entering and exiting an organization. This creates greater transparency and certainty that well-meaning organizations are not funding terrorism or other illegitimate causes. </p> <h2> 7. How are blockchain for-profit platforms charitable? </h2> <p> Many organizations that use blockchain technology have also opened the foundations that work to return. Coins.ph, for example, is committed to providing access to bank accounts through the blockchain to developing countries. The hope behind this venture and others is for the well-known figures in the crypto community to implore their followers to support worthy causes that use blockchain technology. </p> </div> <p><script> ! 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