Cryptocurrency charity platform The Giving Block has announced the launch of 15 new cause funds to improve direct donations to charities with similar goals and objectives.
The Giving Block was created to facilitate cryptocurrency donations to more than 700 non-profit organizations around the world, including Save the Children, Malala Fund, and World Vision.
According to The Giving Block website, Cause Funds brings together many nonprofits with the same focus or mission, adding that this feature is ideal for those who want to support a specific cause or cause, not an organization.
In this way, the foundations allowed more charities to increase their influence, not just those whose names became known.
“We’ve heard a lot from donors that they want to support a certain type of cause – the environment, for example – but they find it difficult to choose a cause,” Alex Wilson, co-founder of The Giving Block, told Cointelegraph.
“Cause money enables donors to support an entire class of influence with a single transaction. It’s a win for charities and donors.”
The categories align with the United Nations sustainability goals, including health and medicine; Freedom and freedom. veterans and rapid response services; poverty and housing; technology and science; the animals; art and culture; Children and youth. civil and human rights; disasters and conflicts; Economic growth; And food and water.
“What the donations will go to will vary greatly depending on the cause. Some of them can be used to build schools, while others can be used to feed hungry children,” Wilson said, adding that the goal was to raise $100 million in charity. This year through cryptocurrency. donations.
Reportedly, hundreds of non-profit organizations have already signed up to participate in Cause Funds. Currently, only US companies are eligible, but Wilson said they hope to become international soon. Reason: Funds will be updated to include new nonprofits at the beginning of each month.
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Donors can contribute to the cause using one of 45 selected cryptocurrencies. Once a month, the total value of each fund will be distributed equally among all nonprofit organizations participating in that fund.
In addition to the foundations supported by the foundations, The Giving Block stated that donations will also have a strong impact on the wider spread of cryptocurrency.
The Giving Block says, “With a large number of non-profit organizations successfully raising funds for cryptocurrency, the use of cryptocurrencies in the charitable sector will grow exponentially. This in turn promotes philanthropy as an important use of cryptocurrencies.