Topic: Bitcoin adoption rising in NGO sector: Report (Read 516 times)
Yeah, It's true that the NGO's is doing very well work for the humanitarian job around the world, not only that but also they are providing various type of support to the people who don't have anything, following my own experience working with some NGO's I know they are very willing to work for the poor and disable people around the world especially in the third world countries, I think it's good to sign that NGO's are adopting Bitcoin, It means a lot for the whole community, I think when people will see a various types of window it has then more people will come to this platform, so Bitcoin is not only for the profit purpose but also some humanitarian work here. day by day the sector of Bitcoin is getting bigger and the community is getting mobilised by the Bitcoin.
Its really good to see NGO's adopting digital currencies like bitcoin and contribute to the innovation of blockchain technology.We are aware of the fact that now most of the institutions like UN is also accepting btc as deposits feom the investors and others are also on the way.They might not have reserves for such currencies and exchange them in fiat immediately or later but its good they are helping others in any form of money they get.We can't argue on this topic.
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I am very hopeful that in a span of several months or in course of over a year, UNICEF, will encourage its partner NGO's worldwide to adopt cryptocurrencies as a form of payment and a way to hasten the transfer of much needed funds in its missions worldwide. I guess UNICEF will also influence the perception of all U.N member nations towards cryptocurrency and might be convinced to embraced it.
Reference: https://www.forbes.com/sites/michaeldelcastillo/2019/10/08/6-billion-united-nations-agency-launches-bitcoin-ethereum-crypto-fund/
I am very hopeful that in a span of several months or in course of over a year, UNICEF, will encourage its partner NGO's worldwide to adopt cryptocurrencies as a form of payment and a way to hasten the transfer of much needed funds in its missions worldwide. I guess UNICEF will also influence the perception of all U.N member nations towards cryptocurrency and might be convinced to embraced it.
Reference: https://www.forbes.com/sites/michaeldelcastillo/2019/10/08/6-billion-united-nations-agency-launches-bitcoin-ethereum-crypto-fund/
Very interesting article, and also a relatively new one. What is also important is that it was written by Michael del Castillo, a guy from the Forbes Staff. It's not that often we can see something like the following, coming from a Forbes Staff member:
... blockchain, the technology behind bitcoin that makes transactions across borders as easy as if borders didn’t exist at all.
Several years ago, similar words could come out only from a Bitcoin fan, so something is definitely changing for the better.
It's a pity but I don't think they usually reinvest their Bitcoin or hodl like other Bitcoin investors.
Usually those who will invest with it or probably hold are individuals who knows about the digital currency and these will be people from developing country.
Nevertheless, we can't stop appreciating the fact that the use of Bitcoin in NGOs brings massive exposure.
Usually those who will invest with it or probably hold are individuals who knows about the digital currency and these will be people from developing country.
Nevertheless, we can't stop appreciating the fact that the use of Bitcoin in NGOs brings massive exposure.
It is not about crypto communities coming together and helping other less fortunate people out, it is about less fortunate people coming together and accepting crypto, that is the difference here. Now charities have seen that people who have crypto can dish out some money all around the world and they are using that as a way to make more money for their charities.
Somewhere in some Asian or African country where people are super poor, people are opening bitcoin accounts and getting money from all over the world. Normally there would be people in crypto community that would open a new charity and collect money and go help those people, now we don't have to bring the help to them, they bring the help to us which is awesome and would mean more money go towards good stuff.
Somewhere in some Asian or African country where people are super poor, people are opening bitcoin accounts and getting money from all over the world. Normally there would be people in crypto community that would open a new charity and collect money and go help those people, now we don't have to bring the help to them, they bring the help to us which is awesome and would mean more money go towards good stuff.
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That is indeed very good news!
Now we need people to actually donate using either bitcoin or ethereum, or we'll find these payment methods disabled in a few years if no money flows in via crypto.
While UNICEF is not an NGO itself, it still has an NGO committee and in essence operates like one.
UNICEF has partner NGO's worldwide that collaborates on its programs so in essence, UNICEF has a more direct relationship on this local NGO's.Sadly, i went to the UNICEF donation website and couldn't find an option to donate using crypto. Do you have a link to that crypto donation page?
As per their press release UNICEF is now currently accepting crypto with the national committees of USA,France, Australia and New Zealand . I've just checked all these sites but if I'm not mistaken, I just found the New Zealand site actually ready to accept crypto donations - https://www.unicef.org.nz/donate-in-crypto . Now we need people to actually donate using either bitcoin or ethereum, or we'll find these payment methods disabled in a few years if no money flows in via crypto.
If I have the means, I would gladly donate in anyway I can, hopefully soon! Now to support this assumption, a recent news indicated that UNICEF is now accepting donations in the form of cryptocurrencies such as Bitcoin and Ethereum - this recognition on the use of cryptocurrencies by a U.N. program is a major milestone and a great step towards mainstream adoption!
I am very hopeful that in a span of several months or in course of over a year, UNICEF, will encourage its partner NGO's worldwide to adopt cryptocurrencies as a form of payment and a way to hasten the transfer of much needed funds in its missions worldwide. I guess UNICEF will also influence the perception of all U.N member nations towards cryptocurrency and might be convinced to embraced it.
Reference: https://www.forbes.com/sites/michaeldelcastillo/2019/10/08/6-billion-united-nations-agency-launches-bitcoin-ethereum-crypto-fund/
Related Thread: https://bitcointalksearch.org/topic/m.52713466
That is indeed very good news!
Now we need people to actually donate using either bitcoin or ethereum, or we'll find these payment methods disabled in a few years if no money flows in via crypto.
On the recent news Unicef is having their Cryptocurrency Fund for donations that will be made thru ether and bitcoin. Though Unicef is not considered as NGO but still accepting donations from individuals. It will be nice if NGO who don't have stable support will accept also Cryptocurrencies besides there are available blockchain applications that can help them monitor the transactions and its them who will convert it to fiat. It can help them encourage more people all over the world to donate since easier transaction is now available.
While UNICEF is not an NGO itself, it still has an NGO committee and in essence operates like one. Sadly, i went to the UNICEF donation website and couldn't find an option to donate using crypto. Do you have a link to that crypto donation page?
In any case, i really am excited about more real world adoption for crypto. Nothing but more good to come.
On the recent news Unicef is having their Cryptocurrency Fund for donations that will be made thru ether and bitcoin. Though Unicef is not considered as NGO but still accepting donations from individuals. It will be nice if NGO who don't have stable support will accept also Cryptocurrencies besides there are available blockchain applications that can help them monitor the transactions and its them who will convert it to fiat. It can help them encourage more people all over the world to donate since easier transaction is now available.
Raising funds from all over the globe in a decentralized manner is much more effective compared to raising the money in a centralized manner, which means involving numerous intermediaries who are unnecessary and also tap a global community who can contribute to their cause without worrying about cross border payments and a delay of raising funds in case of emergencies. Decentralization will make running of non-governmental organizations seamless and i believe this is the reason there is an increase of adoption of Bitcoin in the NGO Sector.
Now, whether the receiving NGOs converted the cryptocurrency to cash or use them to buy good/services, it does not matter to me. What is important is that we now have a good option and let's hope that a growing number of charities and developmental organizations will continue and even expand their cryptocurrency exposure.
I think it does matter. Suppose they use the crypto they receive to pay locals in crypto - that way you start to build up an economy based on crypto. For parts of the world that are unbanked, this could be revolutionary.
That would be great of course, but for me it's too good to be true. It's hard to persuade even educated people to use crypto, let alone uneducated ones, NGOs usually deal with. I would be glad to be mistaken on this matter, but I couldn't find any evidences of such economic activity so far.
As of the moment, it is highly unlikely that they will utilize crypto to pay for goods and services to implement their program but I think they would convert it to fiat specifically in a currency accepted in their area of operation. But the good news is, once crypto adoption becomes full blown, it is possible that an economy based in crypto will emerge!
Now to support this assumption, a recent news indicated that UNICEF is now accepting donations in the form of cryptocurrencies such as Bitcoin and Ethereum - this recognition on the use of cryptocurrencies by a U.N. program is a major milestone and a great step towards mainstream adoption!
I am very hopeful that in a span of several months or in course of over a year, UNICEF, will encourage its partner NGO's worldwide to adopt cryptocurrencies as a form of payment and a way to hasten the transfer of much needed funds in its missions worldwide. I guess UNICEF will also influence the perception of all U.N member nations towards cryptocurrency and might be convinced to embraced it.
Reference: https://www.forbes.com/sites/michaeldelcastillo/2019/10/08/6-billion-united-nations-agency-launches-bitcoin-ethereum-crypto-fund/
Related Thread: https://bitcointalksearch.org/topic/m.52713466
Well, that's really good to hear. In the way, I do believe that bitcoin will be able to recognize and used by a lot of people all over the country and also it will be a really good help to raise the economy of the said countries as well. This is a good impact on bitcoin because they use as a payment processor. Because Bitcoin has an easiest way of transferring money so even if their charity accepts fund world wild it is very easy to collect.
Even the numbers are still small, the number of organizations who accept cryptocurrency and bitcoin climb up to 100%. It is an affirmation that the world of cryptocurrency is being widespread all over the world. Though I believe even Africa has the largest amount of donations and next is the Asia, still these countries are also few knowledge about the cryptocurrency. Maybe the NGO’s accepting the currency exchanging for fiat and buy material things like cloth and blanket, buy food and water, or anything that makes help the people in this very hour which is needed in some underprivileged places.
I believe because of activities related to cryptocurrency even for donations, and the widespread of the positive contribution of bitcoin. The acceptance and information regarding crypto all over places will proliferate in no time.
I believe because of activities related to cryptocurrency even for donations, and the widespread of the positive contribution of bitcoin. The acceptance and information regarding crypto all over places will proliferate in no time.
To be fair all what NGOs want is money, so what is bitcoin? Money, currency just like USD, EURO and etc, only difference here is that bitcoin is also payment method and is on another level but after all it's money. To be fair I don't have much experience with NGOs but logically they will immediately sell their crypto for fiat to get usd or national currency and use it as needed. There is really no need to spend crypto without exchanges, it's not beneficial to look for services which accept only crypto because their prices may not be good.
see
https://decrypt.co/9966/bitcoin-cryptocurrency-adoption-ngo-chaarity-report
The real question is whether the NGOs immediately sell their crypto for fiat, or whether they then use it to buy services in the target sector using crypto. lf they did the latter, then adoption would soar in places like Africa.
I loved this report because it points out one of the sectors of the world economy that crypto can truly disrupt and bring change to. Aids usually travel across borders and oceans from the funders to beneficiaries and in so doing it has to jump through countless hoops, crypto can ease this burden by being the much needed digital pipeline. Also, the aid sector is usually shrouded in mystery as in some instances there is no clear evidence that the donors' funds have been put to the intended use and this can be solved by deploying smart contracts.https://decrypt.co/9966/bitcoin-cryptocurrency-adoption-ngo-chaarity-report
Quote
The number of charities accepting crypto donations has doubled in North America, Europe and Australia, says the 2019 Global NGO Technology Report.
But the numbers are still small. While the number of charities accepting crypto donations has doubled in North America, Europe and Australia, cryptocurrencies still form only 2 percent of total donations.
Africa has the largest amount of NGOs accepting crypto with 5 percent, Asia follows with 4 percent, while Latin America trails with 1 percent.
But the numbers are still small. While the number of charities accepting crypto donations has doubled in North America, Europe and Australia, cryptocurrencies still form only 2 percent of total donations.
Africa has the largest amount of NGOs accepting crypto with 5 percent, Asia follows with 4 percent, while Latin America trails with 1 percent.
The real question is whether the NGOs immediately sell their crypto for fiat, or whether they then use it to buy services in the target sector using crypto. lf they did the latter, then adoption would soar in places like Africa.
The real challenge lies with developers and techies to build the much needed digital infrastructure that can aid this process by making exchanging and transferring of crypto assets easy for NGOs. This answers your question as to whether NGOs are selling their crypto for fiat as soon as they receive it or are they using it to pay for services, in Africa there are a few or next to none service providers who accept crypto as payment so NGOs here end up just exchanging as soon as they receive it. What is needed in infrastructure and simpler usability processes that makes adoption and acceptance easier.
Crypto has been used bu NGOs for the longest of time. I remember in the Dogecoin community back in 2015, we have this Doge4Water campaign which helped deiiver potable and clean water in different parts of the Philippines and Africa. It was a good cause and I think it’s still continuing up until today, although in a different name and a wider scope of aid. I just hope though that services would coordinate with these NGOs and make their lives easier by accepting crypto payments. In that way there’d be actual use for crypto and also some much needed education regarding bitcoin and cryptocurrencies.
It's hard to persuade even educated people to use crypto, let alone uneducated ones, NGOs usually deal with. I would be glad to be mistaken on this matter, but I couldn't find any evidences of such economic activity so far.
You are not wrong. Generally speaking, the use outside the speculation spectrum is very limited. People here keep talking about adoption and how important it is, but I'm fairly sure that most of them don't actually use Bitcoin.The hype behind adoption and use is just that there will be more people entering the space to drive the price up---mostly everything people here do and say has that fundamental driving their bullish adoption narrative.
Use will only take of when the price is stable, the cost of transaction is low, and people actually know how things work here. It's incredibly important to acknowledge how inconvenient crypto is today. It's not user friendly at all.
As for me, NGOs wouldn't hold their Bitcoins for such a long time. They will definitely sell it right away for their necessities. I don't think it has a huge impact because they will exchange it into fiat to buy goods. However, crypto donations is another adoption which could make donating faster. I wish that there will be more charities that would accept crypto
Now, whether the receiving NGOs converted the cryptocurrency to cash or use them to buy good/services, it does not matter to me. What is important is that we now have a good option and let's hope that a growing number of charities and developmental organizations will continue and even expand their cryptocurrency exposure.
I think it does matter. Suppose they use the crypto they receive to pay locals in crypto - that way you start to build up an economy based on crypto. For parts of the world that are unbanked, this could be revolutionary.
That would be great of course, but for me it's too good to be true. It's hard to persuade even educated people to use crypto, let alone uneducated ones, NGOs usually deal with. I would be glad to be mistaken on this matter, but I couldn't find any evidences of such economic activity so far.
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