Topic: [2018-10-17] Colleges Are Learning to Handle Donations in Bitcoin (Read 65 times)

I guess adoption will eventually come little by little.

Its easy to send cryptocurrency to donate for a cause than a donor who has to go to a bank counter to make transaction. But how there has to be a platform for which we'll see whether the donation actually goes to the intended project. For example if I donate BTC to the people in Indonesia affected by tsunami I expect to see blockchain transaction going to a blockchain related Medical Tokens used to buy medicines. This will let us know that the money send were indeed used for where it should be used.

There is a curious duality to the landscape of cryptocurrency and the investors who make up its base. On one hand, you the vast riches that have been accumulated in a very short time span compared to the traditional stock market. During last year’s bullish run to end the year, when Bitcoin reached an all time high of $20,000, the massive leaps in pricing for BTC and the general altcoin market were documented on a near-hourly basis by finance outlets as large as CNBC. While the end result was a flood of myopic investors, those new enough to cryptocurrency to only be enamored with the prospect of overnight gains, the market also saw inspirational stories even as the price began to fall. December 2017 saw the creation of The Pinneapple Fund, an initiative that donated over 5,000 BTC to 60 charities for a total that exceeded $55 million–all given by an individual who felt fortunate to have benefited from the price appreciation of crypto.

Ripple, the blockchain startup company behind the the third largest cryptocurrency by market cap, made national headlines when they donated $29 million to U.S. school charities via the platform donorschoose.

Despite the easy emphasis on greed generated through Initial Coin Offerings and the unearned riches of price appreciation through speculation alone, cryptocurrency and the investment base has managed to collect more than a handful of exceedingly philanthropic anecdotes, one that is now being highlighted by Bloomberg. On Oct. 16, the finance news outlet reported that universities and colleges across the world were having to handle the sudden flood of cryptocurrency denominated donations, primarily in the form of well off alumni looking to share their appreciation through their success in cryptocurrency.

Full article : https://ethereumworldnews.com/colleges-bitcoin-donations-cryptocurrency-2018/