Bitcoin to Save Lives – The American Cancer Society has just set up a special fund dedicated to cryptomoney, which will help fight cancer worldwide. The organization hopes to raise more than $1 million in donations of cryptomoney.
A win-win initiative
According to the announcement, the crypto-cancer fund is intended to support ongoing research initiatives. This project is taking place against the backdrop of a sharp decline in donations in 2020. Donations for cancer research fell by 50% last year.
Pat Duffy, co-founder of The Giving Block, said:
« With Bitcoin reaching a new record high, the creation of this new fund opens the door for donations to a growing market. »
According to the official crypto fund website, donations can be made in Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH),Llitecoin (LTC), Zcash (ZEC), Gemini dollar (GUSD), Basic Attention Token (BAT) and Chainlink (LINK).
Several awards have been promised by the organization. In fact, the first donor who contributes $250,000 or more will have the opportunity to give his or her name to this new kind of charitable fund. On the other hand, donors whose contributions exceed $10,000 will appear on the wall of honour of the crypto fund.
Donations in cryptomoney soon to be widespread?
This is a question that many non-profit leaders and their boards of directors may ask themselves as the use of cryptography increases.
In the non-profit sector, organizations such as Greenpeace and The Water Project recently announced that they are accepting donations of Bitcoin. However, we are only at the very beginning of this movement. Indeed, the entities that currently accept donations of cryptos generally do so to support innovation. It also allows them to tap into their donor base of technology savvy individuals.
In recent years, UNICEF had also conducted several campaigns for donations of cryptos.
The announcement by the American Cancer Society marks a new milestone in the potential adoption of crypto-currencies. It will also support innovation, setting an example for new non-profit organizations.