Buy crypto, sell it three days later, make millions, buy a Lamborghini. This was the cryptocurrency industry in a nutshell a year ago. Many got into the industry purely to make a quick profit as the prices of most cryptocurrencies skyrocketed. However, a lot has changed since then and the industry is slowly transforming into much more than just ‘Bros in Lambos’. The crypto community has become increasingly involved in charity as those who made millions seek to give back to the community.
Giving Back To The Community
Several initiatives have sprung up especially in the past one year that have sought to give crypto owners an opportunity to donate to their favorite causes. They include the Pineapple Fund, a philanthropic project by an anonymous individual which donated $55 million to over 60 charities; GiveCrypto, a project by Coinbase founder Brian Armstrong which aims to collect $250 million for charitable causes and Fidelity Charitable, the philanthropic arm of Fidelity Bank which raised $69 million worth of cryptocurrencies.
However, some of these initiatives have faced challenges that have alienated the crypto donor community. WeTrust Spring is the latest initiative which seeks to revolutionize this fast-growing phenomenon. The platform aims to create a platform through which those in need can raise funds from the crypto community, all while fully engaging with the donors.
Cryptocurrencies have introduced a new era of an open financial services system which is free from control by a few entities. They have given the power back to the most important stakeholders, the users. However, despite the great overhaul of the financial system, the philanthropic system is still regarded as one which is a reserve of a few high-net-worth individuals.
WeTrust Spring aims to bring this to an end and do to philanthropy what Bitcoin did for finance. The platform gives its users the opportunity to nominate the causes closest to their hearts for consideration and the most deserving causes are picked in a free, fair and transparent process.
WeTrust Spring is decentralized and is curated by the community, making it immune from the centralized bias that’s present in many charity platforms. The platform also works with partner organizations that accept Ethereum, giving the over 40 million cryptocurrency holders the opportunity to donate to their favorite causes. The cryptocurrency community is always seeking to lend a hand to the needy, with a research conducted in June revealing that 75 percent of crypto holders are interested in making donations in cryptocurrencies, but only 21 percent have had the opportunity to do so.
As with any other financial platform, transparency and accountability are key principles. WeTrust Spring supports the tracking and automation of the reporting process for donations, giving the donors the opportunity to monitor their donations and ensure they are used for their intended purpose.
WeTrust Spring will give the donors the opportunity to directly interact with the leaders of the causes they wish to support through the organization’s Discord channels. This will give the donors a first-hand feel of the impact their donation makes as well as the opportunity to learn more about the cause.
Finally, every donation of 0.1 ETH on the WeTrust Spring platform earns you a unique digital collectible, Shiba, as a token of appreciation. The puppy can grow into an adult as your donation is updated. And who doesn’t love a cute puppy!
- Crypto Philanthropy Takes Roots As WeTrust Launches Spring - Oct 9, 2018
- SoftBank Develops A Blockchain Based Cross-Carrier Mobile Payment Service - Sep 20, 2018
- IBM Joins A Yellow Page Equivalent Blockchain Project - Sep 15, 2018
- Australian Government Introduces Blockchain Based Driving Licenses - Sep 12, 2018
- Chinese Cryptocurrency Traders Using Tether And VPNs To Bypass Ban - Sep 12, 2018
Know more than others on any Blockchain Party!
Join more than 5000 others to receive the breaking news and weekly summaries! No ICO spam, we promise.