It’s time for the philanthropy sector to embrace digital currency

It’s time for the philanthropy sector to embrace digital currency


The number of cryptocurrencies on the market has soared from 500 in 2014 to nearly 7,000 in October 2021, only seven years later. 14% are in the U.S. Approximately 21.2 million people have purchased some form of cryptocurrency, and it is estimated that there are more than 300 million cryptocurrency owners worldwide.

Obviously: Cryptocurrency will continue to exist, and its path to global recognition and success has just begun.I have previously shared how and why the innovation field of longevity and biotechnology should cooperate with digital currency dreamers Their work faces the future. Cryptocurrency founders, CEOs and buyers are already breaking down barriers and contributing to a more decentralized future in their daily lives. By giving individuals access to various assets and opportunities to invest outside of traditional financial products, the cryptocurrency industry is creating a future based on innovation.

I think there is no reason to lock this innovation in these technology-oriented areas-philanthropy can and should benefit. Accepting crypto donations is a straightforward first step. It shows to the wider community that an organization recognizes its importance and is ready to accept disruptive technologies.

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Some of our charity programs in the field of longevity have already done so. The SENS Research Foundation is a leading longevity research organization that aims to research, develop and promote comprehensive solutions for aging-related diseases. By promoting new developments to the public and attracting educated donors, the SENS Foundation supports projects dedicated to curing heart disease, cancer, and Alzheimer’s disease. It is worth noting that it makes cryptocurrency an integral part of its business. SENS accepts donations in 72 different cryptocurrencies, including Bitcoin (Bitcoin) And ether (Ethereum) To Dogecoin (dog) And Aave (AAVE).

In 2018, Vitalik Buterin Donated 2.4 million USD in ETH The foundation and other cryptocurrency dreamers have followed suit. Richard Heart, the founder of HEX, launched an airdrop in cooperation with SENS, calling on users to donate a portion of cryptocurrency and participate in the effort to win Heart’s new cryptocurrency PulseChain. The PulseChain airdrop raised more than 25 million US dollars to support the work of the foundation, which clearly proves that the cooperation between cryptocurrency and longevity can be a very powerful tool.

related: Cryptocurrency can actually make a difference by helping people

I would neglect the newly announced Longevity Science Foundation that I helped run. We accept donations from all major cryptocurrencies and plan to work closely with leaders in the crypto industry to establish a decentralized and transparent financing model. Since all donors, including cryptocurrency leaders, have the right to vote in the foundation’s funding decisions, the foundation is committed to supporting projects that reflect the most forward-looking worldview.

But of course, accepting cryptocurrency donations is not limited to longevity non-profit organizations and foundations. Other founders and fundraising teams are realizing the incredible power of cryptocurrency and the decentralization it provides. E.g, Giving Block provides tools Allow any non-profit organization to accept cryptocurrency donations and make it easier for philanthropists to donate to more than 400 organizations such as the American Cancer Society and No Kid Hungry in their favorite digital currency.

Other global non-profit organizations, including St. Jude Children’s Research Hospital and the World Relief Organization, have followed suit. If these global entities, known for their charitable work and admirable goals, can accept cryptocurrency and the donors behind it, so should other non-profit organizations.

related: Charity digitalization: we can do better

Call for action

Now is the time for the charity and non-profit sectors to realize the potential of digital currencies. Longer human life and many other important advances are within reach, but support from different industries and ideas is crucial.

Adopting the principles of the crypto industry, such as decentralization and tokenization, can enrich these foundations and modernize their operations, while accepting cryptocurrency donations will help ensure that innovators and changemakers can contribute to major advancements. Together we can use all the tools (and currencies!) that we can use to build a better future.

The views, thoughts and opinions expressed here are only those of the author, and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Gary Zmuze He is the managing partner of LongeVC, a venture capital company headquartered in Switzerland and Cyprus, aiming to accelerate innovation and entrepreneurship in the fields of biotechnology and longevity. He is an experienced business expert and angel investor who has successfully exited biotechnology and technology companies many times. He is a long-term supporter and investor in biotechnology companies such as Insilico Medicine, Deep Longevity, and Basepaws.