How Bitcoin Impacts Charity, and Why It’s CoolCharity and nonprofit organizations, contrary to traditional entities, gradually embrace cryptocurrencies and their underlying technology. This move has more or less evident justification. Blockchain technology may revolutionize the way various charitable efforts work, and change it for the better.
PROS AND CONS OF CRYPTOCHARITY
First, it’s simple and convenient for the receiving party. Most charity organizations nowadays have to deal with donations from different countries, and moving of funds around the world in traditional finance has always been a nuisance. Blockchain technology, known for its capability of reducing operational costs and accelerating money transfer, not to mention its transparency, may cause the world of charity to change. On the other hand, not all NPO’s are aware of those capabilities, and, as it usually happens, may be simply afraid of using the new technology.
Second, cryptocurrency transactions are equally convenient for the donators.
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