By Crypto and blockchain technology have been involved with philanthropy for a considerable amount of time now. A variety of charitable organizations are now turning towards cryptocurrencies and blockchain to enhance their efforts in helping the community. The Rainforest Foundation US, a New York-based, non-profit NGO, is now planning on supporting anti-deforestation efforts using cryptocurrencies and blockchain technology.
Crypto makes it global
The organization has recently reached out to the entire crypto community asking for help to fight the growing amount of deforestation and the threat of forest fires in Brazil. The illegal deforestation and fires have been going on for decades now and it’s now more than ever that Mother Nature needs our help. To reach out to the whole world, the Rainforest Foundation is now accepting payments in a number of cryptocurrencies namely Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and other cryptocurrencies. The fast transaction speeds of cryptocurrencies and its permissionless architecture make it possible for organizations like this to reach out to the entire world. An excerpt from an announcement on the NGO’s website states:
“Since Bolsonaro took office in January, deforestation in the Brazilian Amazon is up 75% and forest fires in the Brazilian Amazon have doubled compared to the past year. As guardians of our rainforests, its animals and its people, we are working with The Giving Block to form a coalition of crypto sponsors, donors and media partners who will help stop this devastation.”
Transparency using blockchain
The NGO is also said to be developing a blockchain project to ensure transparency between the donors and the organization. With this system, the donors will be able to track all the work that is being done by the NGO to support the Amazon rainforest. They also plan on helping local communities that are working to protect the forest, by rewarding them with cryptocurrencies. Other projects include the use of smart contracts to prevent illegal logging, trafficking and excessive gold mining.
The executive director of the Rainforest Foundation Suzanne Pelletier, made a statement saying:
“Business, as usual, has gotten us to this point. Philanthropy, as usual, won’t get us out. We need innovative solutions, and no one is more innovative than cryptocurrency users.”
Philanthropy with Crypto and Blockchain
It is unlikely that cryptocurrency and Blockchain platforms will significantly disrupt or displace traditional philanthropy, but they will drive further innovation and experimentation in the sector. These include crowdfunding platforms such as BitHope, which allows donors to make Bitcoin donations to selected charities for their fundraising campaigns. Over the last few years, several charities have been trialling Bitcoin donations. These include well-known organizations such as the Red Cross Society, Save the Children, United Way, and the Electronic Frontier Foundation.
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