The Power of Bitcoin Crowdfunding

Bitcoin is a relatively new currency – but is it an online currency with the potential to actually change the world?

Bitcoin is a decentralized method of making purchases and is growing in availability. From an online purchase to a beer in a London pub, the accessibility of Bitcoin is expanding. Even though it might just sound like internet cash, its mechanics are much more sophisticated than that and it is these particular details which make Bitcoin the perfect fit with charitable and anthropological organisations – but we will get back to that later.

As Bitcoin is unique for not using a middleman – i.e. no banks or credit card companies – there is no extra fees to be made on each purchase which banks and corporations usually swallow up.  Bitcoin is also much quicker than making traditional debit or credit card purchases and can be easily completed from an app. Not to mention that payments are always readily available, borderless, and ‘bank holidayless’.

It is not surprising that many are talking about how Bitcoin could change the landscape of the financial and economic world over the next years, but what about other changes? What is Bitcoin doing now to other sectors? The charitable and anthropological areas are vastly benefiting from Bitcoin and it is fast becoming a force for good in the world.

Bitcoin’s Anthropological Use

 There has already been many examples of Bitcoin’s charitable success, especially in the form of bitcoin crowdfunding.  Bitcoin has been a massive success in lots of charitable areas in lots of geographical areas. The reason that charities are latching onto bitcoin crowdfunding as a core source of raising money is because there are numerous benefits for them in using this digital currency. Firstly, Bitcoin is fast and does not have to wait for banks to approve and send payments; this is especially convenient in those instances where natural disasters occur leaving plentiful in immediate need. Bitcoin can provide funds immediately to organisations who need to provide instantaneous support for those affected. Secondly, Bitcoin crowdfunding cuts out the middleman, meaning no fees are heading in the banks’ pockets. The money saved here is redirected to the charities’ causes, and thus helping more people than conventional crowdfunding is capable of doing.  A final benefit of organisations using bitcoin crowdfunding instead of orthodox methods is two-fold. Bitcoin is a transparent currency where anybody can access information and records regarding where bitcoins have been spent. This is highly beneficial to charities wanting to reassure people that their money is going where it is claimed to be going. Giving piece of mind will undoubtedly give more people – who may be skeptical with conventional currencies in usual donating scenarios – encouragement to make a donation. The second aspect is that this clarity cannot be compromised as charities can use the blockchain which cannot be manipulated due to its triple sworded cryptographical security features. The bottom line is that bitcoin crowdfunding is trustworthy and efficient.

Some Worthy Examples

Anthropological organisations have not been slow in recognising bitcoin’s crowdfunding potential. Here are some of the most successful charities who have managed to use bitcoin to improve our world:

BitGive

BitGive are not just revolutionary in the way the raise money, but they are also making strives to spread the use of blockchain technology to other charities through their Give Track project. Some of their most successful bitcoin crowdfunding ventures include their response to typhoon Haiyan that hit the Philippines and left more than 6000 people dead and millions homeless. Their bitcoin crowdfunding raised a significant amount in just 24 hours due to the platform that Bitcoin operates from. Something that would have not been possible with orthodox currencies. They also run bitcoin crowdfunding on other issues such as to help get clean water in Africa and contributing to the Save the Children campaign, among others.

Sean’s Outpost

Sean’s Outpost is another trademark example of the crowdfunding potential of bitcoin. Their organisation specifically aims at helping homeless people by providing meals and clothes; they even managed to build a small shelter as well. Bitcoin helps them avoid up to 5 percent processing fees and has specifically used this money to ensure more homeless people receive more meals.

Bitcoin Funding Team

The Bitcoin Funding Team is a crowdfunding platform that costs 1 bitcoin to join. Once a member, you have the opportunity to contribute or initiate bitcoin crowdfunding campaigns for anyone you wish. This could range from specific mainstream charities to helping out somebody that may be in financial trouble and you think deserves some community support. The benefits of being part of this bitcoin crowdfunding team are that you are also rewarded with free bitcoins each month.

Final Remarks

Bitcoin undoubtedly has a place cemented into our future and the extent of its presence and consequences may be unknown, but we should be reassured that it appears to have a strong humane purpose in the anthropological sector with the power to actually change lives and the world.