Bitcoin Benevolence: The Clear Benefits of Non-Profits Accepting Bitcoin

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NEW YORK (InsideBitcoins) — Roger Ver, bitcoin evangelist and founder of Bitcoin 100, believes there is no reason for charities across the world to refuse bitcoin donations. In fact, he says bitcoin is the ideal currency for charitable giving.

“It allows people from every country in the world to come together to help others in need,” Ver said. “For the first time in history, we now have a money that works the same regardless of what political designation the donors or receivers happen to be located in.”

His comments are included in “The Bitcoin Handbook for Non-Profit Organizations,” published by the GiveBTC initiative to help interested non-profits understand the technical aspects of accepting bitcoin.

bitcoin charity
The Water Project

In another testimonial, Teresa Warmke, co-founder of Fr33 Aid and Peter Chasse, founder of The Water Project, related the reaction they’ve seen from the bitcoin community in regards to donations and support. Chasse spoke about their fears at first of accepting bitcoin, but once they started he said, “We’re glad we did.”

One of the biggest drivers of bitcoin acceptance among non-profits is the fact that a charity keeps all of the donations, minus the pennies in miner’s fees, of course. The increase in revenue means the money donated to their cause or campaign goes directly to the movement without anyone taking a portion away. More school supplies can be purchased, leading to more children in need getting the education they deserve. The fight against hunger can be fought not with more fees, but with more canned goods for the starving. People who need the financial support can get the help they need.

In the end, the non-profit is able to do more with their money. A payment processor isn’t in the middle to take a cut when an organization accepts bitcoin. Bitcoin isn’t the focus of the drive for adoption – it’s a helping hand along the way. There are people in the world that need all the help they can get, and bitcoin can bring it to them.

“The non-profit sector is a perfect use-case for the failures of the legacy banking and payment systems.”

The Bitcoin Foundation of Canada and the Bitcoin Embassy established their newest campaign called GiveBTC last year, promoting the use of bitcoin for charitable donations. To document the large amount of non-profits already accepting bitcoins — including Green Peace U.S., Wikileaks, the American Red Cross and the Wikimedia Foundation — GiveBTC also published a Bitcoin Donation Directory alongside the handbook.

The directory collects 350 different organizations that accept bitcoin donations and lists them by industry.

Francis-Pouliot
Francis Pouliot

“The non-profit sector is a perfect use-case for the failures of the legacy banking and payment systems. We are witnessing a global shift towards online giving and micro-transactions while existing payment solutions remain resolutely analog,” Francis Pouliot, CEO of the Bitcoin Foundation in Canada, said on behalf of GiveBTC in a press release. “By using Bitcoin, outside constraints on fundraising such as high donation payment fees, censorship and privacy violations are no longer constraints imposed by the financial system.”

The handbook was a volunteer project built through a combined effort from many different organizations. For instance, a section covering bitcoin remittances was written by Victoria Van Eyk, the vice president of community development for ChangeTip, and Pouliot.  Just two sections prior to remittances, Eric Spano, the CEO of Bylls, wrote about bitcoin asset allocation along with financial reporting.

“The entire project was a collaborative effort by over 15 volunteers from around the world,” Pouliot said. “It was a grassroots effort led by regional organizations also dedicated to promoting Bitcoin, industry leaders and volunteers.”

“For donors, using bitcoin ensures that 100 percent of the funds donated go to United Way Worldwide’s Innovation Fund, which is transforming United Way and the social sector through technology, relationships, and efficiency,” the United Way states on their website. “United Way’s impact in communities creates real change that goes beyond charity.”

It’s not about bitcoin – it’s about bringing a brighter world to some that see nothing but hopelessness.

Photo credit: For the Poor Charity Box

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