It’s time for the philanthropic sector to embrace digital currencies

The number of cryptocurrencies available on the market has risen from 500 in 2014, to almost 7,000 seven years later, in October 2021. An estimated 14% of Americans have bought cryptocurrency. This is roughly 21.2 million people. Worldwide, there are more than 300 million crypto-owners.

It is clear that cryptocurrency will be around forever, and the road to international recognition and success has just begun. I’ve already shared how and why digital currency visionaries should collaborate with innovative sectors such as longevity and biotech to ensure their future success. Crypto buyers, CEOs, and founders are already helping to break down barriers and create a decentralized future for their daily lives. The cryptocurrency industry creates a future that is innovative by giving individuals access to different assets and investment opportunities beyond traditional financial services.

There is no reason to believe that this innovation should be kept in tech-oriented industries. The philanthropic community can and should also benefit. Cryptocurrency donations are a simple first step that shows the wider community that an organization recognizes its importance and is open to adopting disruptive technology.

Philanthropic initiatives

Many philanthropic efforts in the field of longevity have done this already. The SENS Research Foundation, a world-leading organization in longevity research, aims to develop, promote and research comprehensive solutions for age-related diseases. The SENS Foundation helps to cure Alzheimer’s, heart disease and cancer by educating the public and attracting educated donors. It has made cryptocurrency an integral part its operations. SENS accepts donations in 72 different cryptocurrency types, including Bitcoin (BTC), Ether (ETH), Dogecoin(DOGE), and Aave/AAVE (AAVE).

Vitalik Buterin donated $2.4 Million in Ethereum to the Foundation in 2018. Other crypto visionaries followed his lead. Richard Heart, founder of HEX launched an airdrop with SENS in partnership that invited users to donate a portion their cryptocurrencies to be entered for a chance to win Heart’s new cryptocurrency PulseChain. The PulseChain airdrop raised more than $25 million for the Foundation. This is clear evidence that cryptocurrency and longevity can work together.

Related: The use of cryptocurrency to help people can make a real difference

It would be remiss of me to not mention the Longevity Science Foundation which I also run. We accept donations in all major crypto currencies and will work closely with leaders of the crypto industry to create a transparent and decentralized funding system. The Foundation is committed to funding projects that reflect visionary views of the world because all donors, including crypto leaders, have voting rights in Foundation funding decisions.

Accepting cryptocurrency donations isn’t a trend that only exists for foundations and long-lasting nonprofits. Others are beginning to see the immense power of cryptocurrency and its decentralization. The Giving Block, for example, allows any non-profit to accept cryptocurrency donations and makes it easy for philanthropists make donations in their preferred digital currency. This includes 400+ organizations such as the American Cancer Society or No Kid Hungry.

Many other non-profits around the world, such as St. Jude Children’s Research Hospital (St. Jude) and World Relief, have followed their lead. These global organizations are known for their charitable work, admirable goals, and can now embrace cryptocurrency and the donors that support it.

Related: Digitalizing charity: We can be better at doing good

Get involved

The time has come for both the non-profit and philanthropic sectors to realize the potential of digital currency. We can live longer lives and make important advances, but we need to be supported by many industries and minds.

These foundations can benefit from principles such as tokenization and decentralization. Accepting donations in cryptocurrency will ensure that change-makers and innovators can make significant contributions to the future. We can all work together to create a better future using all the tools and currencies available. at our disposal.

These views, thoughts, and opinions are solely the author’s and do not necessarily reflect the views or opinions of Cointelegraph.
Garri Zmudze, a managing partner of LongeVC is a venture capital firm in Switzerland and Cyprus that focuses on accelerating innovative biotech startups and long-term longevity. He is an experienced business investor and angel investor who has helped many companies exit successfully in the biotech and tech industries. He has been a long-standing supporter of and investor in biotech companies, including Insilico Medicine and Deep Longevity.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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