Charity Giant Behind Give.org Launches a Blockchain Donation Platform
Better Business Bureau, or BBB — the charity giant behind Give.org — launched a privacy-focused donation platform created on the Ardor (ARDR) blockchain. According to a July 4 declaration, BBB’s charity monitoring organization Wise Giving Alliance launched a blockchain-powered donation platform, GiveSafely.io. The platform utilizes distributed ledger technology to promote donations to BBB-accredited charities while assuring donor data is only shared when permitted.
“The platform also aims to restore trust in the online donation model, address concerns people have about the misuse of their data and potential hacks. All personal information is stored on the Ardor blockchain and is only accessible to charities with donor permission.” Head of GiveSafely, Ezra Vazquez-D’Amico, said in a statement that GiveSafely “allows a peer-to-peer donor-charity relationship.” Moreover, the platform does not have access to its user’s personal data, donations, or payment details.
Cryptocurrencies are accepted
Cryptocurrency holders can donate crypto assets straight to charities. This is motivated by an Edelman report saying that 25% of wealthy Millennials hold or utilize digital currencies, and 31% have expressed an interest in utilizing it. Fiat donations are also accepted. As per the declaration, the move is meant as a way to draw younger donors. The announcement states:
“GiveSafely.io has been launched with the aim of reaching out to younger and more technologically proficient donors who are less likely to make donations compared to older or less technologically savvy ones.”
Moreover, donors utilizing the platform will also be rewarded with charity experiences. Those experiences are 15-20 minutes long and involve healthy cooking tips and discussions about how it is to work at the charity committed. Charities accessible on the platform involve Save the Children, Easterseals, Population Media Center, Physicians Committee for Responsible Medicine, RedRover, Wild Animal Sanctuary, Cure Alzheimer’s Fund, and World Emergency Relief.
Cryptocurrency adoption in charity
Cryptocurrencies and blockchain technology allow a particularly high transparency standard and lower transaction costs. Both characteristics are highly sought after in the space of charitable donations where every penny counts. According to Ray Youssef — the co-founder and CEO of peer-to-peer crypto exchange Paxful — the future of philanthropy lies in blockchain technology. In May, his firm launched a fundraising campaign to combat the ongoing pandemic in Africa.