It’s time for the philanthropic sector to embrace digital currencies

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The number of cryptocurrencies on the market increased from 500 in 2014 to almost 7,000 just seven years later, in October 2021. Reports indicated that 14% of the population in the United States, equivalent to approximately 21.2 million people, have acquired some form of cryptocurrency. more than 300 million owners of cryptocurrencies around the world.

It is clear: the cryptocurrency is not going anywhere, and the road to global recognition and success has just begun. Earlier, I discussed how and why the innovative longevity and biotechnology sectors need to work with cryptocurrency visionaries to prove their work in the future. Entrepreneurs, CEOs and buyers of cryptocurrencies are already working to remove barriers and contribute to a more decentralized future in their daily lives. By giving people access to diversified assets and investment opportunities beyond traditional financial offerings, the cryptocurrency industry creates a future built with innovation in mind.

I see no reason why this innovation should be blocked in these technology-driven sectors – the world of philanthropy can and should also benefit from it. Accepting cryptocurrency donations is a simple first step that shows the wider community that the organization understands the importance and is ready to embrace disruptive technologies.

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Many of our long-term philanthropic initiatives have already done so. SENS Research is a leading research organization for longevity dedicated to researching, developing and promoting comprehensive solutions to the diseases associated with aging. By educating the public about new developments and attracting educated donors, the SENS Foundation supports projects aimed at treating heart disease, cancer and Alzheimer’s disease. It is noteworthy that he made cryptocurrencies 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 in ETH to the foundation, and other cryptocurrencies have followed suit. Richard Hart, founder of HEX, launched an airdrop in collaboration with SENS, inviting users to donate and deposit a portion of their cryptocurrency to win the new PulseChain heart-shaped coin. PulseChain’s airdrop has raised more than $ 25 million to support the fund’s operations, which is clear proof that the collaboration between cryptocurrency and longevity can be an incredibly powerful tool.

Related: Cryptocurrencies can make a difference in helping people

It would be an oversight if I skipped the recently announced Longevity Science Foundation, which I help manage. We accept donations in all major cryptocurrencies and plan to work closely with the leaders of the crypto industry to create a decentralized and transparent financing environment. As all donors, including the leaders of cryptocurrencies, have a say in the financing decisions of the Fund, the Fund is committed to supporting projects that reflect the world’s most forward-looking paths.

But of course, accepting cryptocurrency donations is not limited to non-profit organizations and long-standing foundations. Founders and other fundraising teams are beginning to wake up to the incredible decentralized power of cryptocurrencies. For example, The Giving Block provides tools for any non-profit organization to accept cryptocurrency donations, and also allows philanthropists to donate in their preferred digital currency to over 400 organizations such as the American Cancer Society and No Kid Hungry.

Many other non-profit organizations around the world, including St. Jude Children’s Research Hospital and Relief World, are following suit. If these global organizations, known for their philanthropic work and admirable goals, can accept cryptocurrency and the sponsors behind it, then so should other non-profit organizations.

Related topics: Digitization of charity: We can do more in charity

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It is time for the philanthropic and non-profit sector to grasp the potential of digital currencies. Longer human lives and many other important events are within our reach, but support from various industries and brains is crucial.

Applying crypto-industry principles such as decentralization and tokenization can enrich these fundamentals and modernize their operations, while accepting cryptocurrency donations, which will help ensure that innovators and change developers can contribute to major developments. Together we can build a better future with all the tools (and coins!) At our disposal.

Source: CoinTelegraph

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