The Giving Block Launches 15 New Funds to Boost Crypto Donations to Good Causes

Cryptocurrency charity platform The Giving Block has announced the launch of 15 new “Cause Funds” to better direct donations to charities with similar goals and missions.

The Giving Block was formed to facilitate cryptocurrency donations to more than 700 nonprofits around the world, including Save The Children, Malala Fund, and World Vision.

According to The Giving Block's website, the new nonprofit fund "brings together multiple nonprofits with similar concerns or missions," adding that the feature is ideal for those who want to support a specific issue or nonprofit A person with a cause rather than an organization.

In this way, the funds enable multiple charities to expand their reach, not just those with instant visibility.

Co-founder Alex Wilson told Cointelegraph: “We often hear from donors that they want to support a certain type of good cause, such as the environment, but it is difficult to choose.”

“These nonprofit funds allow donors to support an entire category of impact with one transaction. It’s a win-win for the charity and the donor.”

These categories align with the United Nations Sustainable Development Goals and include: Health and Medical; Liberation and Freedom; Veterans and First Responders; Poverty and Housing; Technology and Science; Animals; Arts and Culture; Children and Youth; Civil and Human Rights; Disasters and Conflict ; economic development; food and water.

“The use of donations will vary greatly by cause. Some funds may be used to build schools, while other funds may be used to feed hungry children,” Wilson said, adding that the goal this year is to donate to charity through crypto. Raise $100 million.

So why might there be no effect at all? (which is actually a big deal)

Public welfare funds mean that a single donation can create a huge chain reaction!❤️

One donation = unprecedented philanthropic impact.

— GivingBlock (@thegiingblock) November 3, 2021

According to reports, hundreds of non-profit organizations have signed up to participate in public welfare funds. Currently, only U.S. companies are eligible to participate, but Wilson said they hope to expand internationally soon. The Public Welfare Fund will update new non-profit organizations at the beginning of each month.

Donors can donate to a good cause using one of 45 selected cryptocurrencies. The total value of each fund will be divided equally among all nonprofits participating in the fund, on a monthly basis.

In addition to the charities supported by these funds, The Giving Block stated that these donations will also have a profound knock-on effect on the wider adoption of cryptocurrencies.

The Giving Block website states: “With a large number of non-profit organizations finding success in crypto fundraising, the adoption of cryptocurrencies in the charitable arena is destined to grow exponentially. This, in turn, promotes charitable giving as an important Example."

Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.