After announcing the establishment of a cooperation agreement with the Cardano Foundation, Save the Children Rwanda has recently become the newest member of the NGO community that supports cryptocurrency.
According to a statement issued by all parties to the project, this arrangement became possible after Cardano “installed a payment gateway that allowed ADA donations to enter the project directly without an intermediary.” Once received, these funds will be “invested in African social enterprises that have an impact on children, families or youth.”
The statement stated that within a few hours after the system was launched, approximately 22,000 ADAs worth nearly $30,000 have been donated through the system. At the same time, Save the Children Rwanda National Director Maggie Cord was quoted to explain how cryptocurrency and blockchain technology can help school children in the country. she says:
Through Cardano, Save the Children in Rwanda now has a cryptocurrency ADA startup can, which we can deploy to children’s projects. But the blockchain also has countless possibilities. First, it directly affects the lives of children through measures such as digital school records, and secondly, it improves our efficiency and transparency as an organization.
Save the Children’s new approach
Similarly, Save the Children’s senior adviser Ettore Rossetti also praised this partnership, which brings another “exciting new path” to the organization. She also discussed other solutions implemented by blockchain technology. Rossetti said:
“In addition to the contribution of cryptocurrency, what if blockchain technology can be used as a form of unconditional cash coupons through decentralized universal basic income, making the supply chain more efficient, more transparent transactions, and eradicating world poverty? It will be A dream worth holding on.”
Save the Children was established more than 100 years ago and currently covers more than 1 billion children. Save the Children also claims to be the “first global NGO” and it supports cryptocurrency when accepting bitcoin donations from well-wishers. These donations were used to fund the response to Typhoon Haiyan that hit Southeast Asia in 2013.
The rise of cryptocurrency donations
In addition to Save the Children, other NGOs that have received digital currency donations include Give Well, which began accepting cryptocurrency donations in December 2017. According to reports, another NGO, India’s Crypto Covid Relief Fund, recently received shiba inu tokens worth millions of dollars. Vitalik Butlin. Other institutions such as UNICEF are accepting cryptocurrency donations because they provide unprecedented transparency in the areas of funding and NGOs.
In addition to embracing cryptocurrency, Save the Children Rwanda is also committed to combining innovation and impact investment across Africa through the recently launched Kumwe Hub. Under this initiative, “projects such as the academic records of cross-border children, the digital ID of refugees, and the provision of loan mechanisms for economically excluded people are all being piloted through this project.”
Do you foresee more NGOs accepting cryptocurrency donations? You can share your thoughts in the comments section below.
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