A few months ago we announced The Giving Block’s IoTeX delegate where all proceeds would benefit our selected “Charity of the Quarter.” We did this to grow the IoTeX community and raise money for crypto-friendly nonprofits. Now, we’re expanding the initiative to more rapidly grow the IoTeX community and raise more cryptocurrency for nonprofits. That’s why we’ve decided to partner with the leading IoTeX delegate, dRoute Capital.
Starting with epoch 2500, dRoute Capital will contribute 5% of all IOTX rewards to The Giving Block’s Charity of the Quarter, currently the Lupus Foundation of America. The rewards will be paid out…
Code To Inspire has become the second recipient of our Ad Grants program for crypto-friendly nonprofits. We’re excited to be leading this charge to onboard additional nonprofits that want to engage with a particularly tech savvy community.
“This partnership between Brave and The Giving Block on our Brave Ad Grants program is delivering significant attention for our partners. The platform and team care deeply about using their innovative technology for good,” said Alex Wilson, Co-Founder at The Giving Block.
“We expect the Code to Inspire campaign to be just as big and look forward to on-boarding additional nonprofits as the…
In 2016, The Dementia Society (DSA) began investing in Bitcoin, and accepting Bitcoin donations. They have long understood the value of cryptocurrencies like Bitcoin and have decided to partner with The Giving Block to expand their capabilities and engage the community, now accepting Ethereum, Litecoin and Bitcoin Cash, in addition to Bitcoin. Their plan is to HODL (hold) at least 51% of all donated cryptocurrencies for a period of at least 6 months, whereas the remaining portion may or may not be converted to serve their more immediate needs.
You can visit their dedicated cryptocurrency donation page here.
Everything nonprofits need to know about Facebook’s cryptocurrency, Libra.
On June 18th, 2019, Facebook released the details of their much anticipated cryptocurrency with the goal of meeting “the daily financial needs of billions of people.”
The two areas of focus:
“A simple global currency and financial infrastructure that empowers billions of people.”
The release detailed their initiative partners (below), including major nonprofits Mercy Corps, Women’s World Banking and Kiva.
So, let’s walk through what this cryptocurrency means for these nonprofit organizations, and others.
How will these nonprofits use Facebook’s cryptocurrency…
The Giving Block is committed to building a network that unifies nonprofit organizations with top players in the cryptocurrency industry. By partnering with MakerDAO, we will leverage the power of Dai, Maker’s stablecoin soft-pegged to the US Dollar, to enhance nonprofit impact and accelerate cryptocurrency adoption around the world.
“We’re thrilled to partner with The Giving Block to help educate non-profit’s on the value of transacting and supporting donations in a stable digital currency like Dai. Dai provides non-profits a way to transact in a global digital cash that can reduce costly transaction fees when money crosses the border offering…
“The Giving Block is working with Brave to provide ad inventory and test use cases for their partner charities and non-profits. The Human Rights Foundation is featured as part of the launch, and users will be presented with messaging to encourage tipping the organization through Brave Rewards.”
Read the full story here.
Satoshi’s Bitcoin whitepaper in 2008 started a new phenomenon of using blockchain as a transparent mechanism for peer-to-peer (P2P) interactions. Although this decentralized movement is sometimes characterized as an anti-establishment narrative, cryptocurrency has the potential to elevate impact and transparency for establishments that need it most: nonprofits/charities.
Charities around the world are raising funds in borderless cryptocurrency, giving local causes international visibility. Even in authoritarian countries where donating to specific causes is punished, blockchain can provide an effective, censorship-resistant alternative. …
What are the tax benefits of donating Bitcoin and other cryptocurrency?
It’s not hard to see why nonprofits take crypto donations. It generates attention, opens them up to new and younger audiences, and establishes the organization as innovative. But why are people donating crypto in the first place?
There are many reasons people donate cryptocurrency to nonprofits. It’s fast, convenient and fun. But the main reason people are donating crypto is simple: the tax benefits are hard to pass up.
It’s Property, Not Cash
For U.S. donors, the IRS has classified cryptocurrency as property for tax purposes. This means that…
Less than 1% of nonprofits accept cryptocurrency donations. Fifteen years ago nonprofits were skeptical about credit card donations. Now almost all accept them. Cryptocurrency will follow a similar trend except in this scenario there are additional benefits.
This is a way for your organization to distinguish itself. The early adopters will be remembered and rewarded. Keep in mind, people are getting rich from this technology. Would they rather support a nonprofit that accepts crypto or one that doesn’t?
2. Do you want to give donors a…
The cryptocurrency community is a young and philanthropic group of individuals yet less than 1% of nonprofits accept cryptocurrency. Why is that? Let’s break it down.