Rwanda-based NGO Partners with Cardano Foundation to Launch ADA Crypto Charity Platform – Fintech Bitcoin News

Save the Children in Rwanda recently became the newest member of the NGO community to support cryptocurrencies after announcing a partnership agreement with the Cardano Foundation.

ADA donations

According to a statement released by the project parties, this agreement was made possible after Cardano “installed a payment gateway that allows ADA donations to go directly to the project without intermediaries”. Once received, the money will be “invested in African social enterprises with a proven impact on children, families or young people”.

According to the statement, around 22,000 ADAs, valued at nearly $ 30,000, were donated through the system within hours of its launch. Meanwhile, Maggie Korde, Country Director of Save the Children in Rwanda, is quoted as explaining how cryptos and blockchain technology can help school children across the country. She said:

With Cardano, Save the Children in Rwanda now has a starter pot for the crypto currency ADA, which we can use for projects for children. But there are also countless possibilities through blockchain to firstly influence the lives of children directly through initiatives such as digital school records and secondly to increase our efficiency and transparency as an organization.

New way for Save the Children

Ettore Rossetti, Senior Advisor at Save the Children, also praises the partnership, which has brought another “exciting new path for the organization”. She also discusses other solutions made possible by blockchain technology. Rossetti said:

“What if blockchain technology could be used beyond the contributions to cryptocurrency to make supply chains more efficient, make transactions more transparent and end world poverty through a decentralized universal basic income in the form of unconditional cash vouchers? That would be a dream that is worth holding onto. “

Founded more than 100 years ago, Save the Children has now reached more than a billion children. Save the Children also claims to have been the “first global NGO” to support cryptocurrencies when they accepted bitcoin donations from well-wishers. These donations were used to fund the response to Typhoon Haiyan that struck Southeast Asia in 2013.

The rise of crypto donations

In addition to Save the Children, other NGOs that have received donations in digital currency are Give Well, which has been accepting crypto donations since December 2017. Another NGO, India’s Crypto Covid Relief Fund, is said to have recently received multi-million dollar Shiba-Inu tokens from Vitalik Buterin. Other institutions like UNICEF accept crypto donations because they offer an unprecedented level of transparency in funding and NGOs.

In addition to accepting cryptocurrencies, Save the Children in Rwanda is also committed to efforts to bring innovation and impact investments across Africa together through the recently established Kumwe Hub. As part of this initiative, “projects such as school certificates for children who cross borders, digital ID cards for refugees and loan mechanisms for the financially excluded are in preparation to try out the project”.

Do you see more NGOs accepting crypto donations? You can share your thoughts in the comments section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons, Dennis Wegewijs

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