Satoshi’s Bitcoin whitepaper in 2008 started a new phenomenon of using blockchain as a transparent mechanism for peer-to-peer (P2P) interactions. Although this decentralized movement is sometimes characterized as an anti-establishment narrative, cryptocurrency has the potential to elevate impact and transparency for establishments that need it most: nonprofits/charities.
Charities around the world are raising funds in borderless cryptocurrency, giving local causes international visibility. Even in authoritarian countries where donating to specific causes is punished, blockchain can provide an effective, censorship-resistant alternative. IoTeX and The Giving Block share this vision, and are proud to announce a strategic partnership to use blockchain for social good!
The Giving Block will become an official IoTeX Delegate, helping IoTeX grow and maintain the network. IoTeX Delegates are issued rewards in IOTX tokens and all profits earned by The Giving Block will be donated to charitable causes! We are excited to pioneer this new approach to supporting nonprofits/charities.
Please consider using some/all of your votes for this great cause — even a little can make a big difference. A vote for The Giving Block is a vote for Charity! Vote here: https://member.iotex.io/delegate/5cb7febe87358f57fb17ce09
What is The Giving Block?
The Giving Block helps nonprofits leverage cryptocurrency and blockchain to elevate their impact. They focus on basic blockchain education, equipping nonprofits to accept cryptocurrency donations (including IOTX!), and matching them with top projects in the industry to explore innovative use cases. The Giving Block currently partners with charitable organizations such as the Lupus Foundation of America, who will be the first recipient of the Delegate Program rewards.
IoTeX Delegate Program & The Giving Block
A vote for The Giving Block is a vote for Charity. 50% of all Delegate rewards will be donated to the “Charity of the Quarter” and the other 50% will be redistributed to voters. To introduce as many charities to blockchain and cryptocurrency, a new charity will be selected every three months as the recipient of rewards. In the future, we plan to work on traceability-focused dApps to add transparency into how these rewards are used.
The first “Charity of the Quarter” is the Lupus Foundation of America. Lupus is a chronic autoimmune disease that can damage any part of the body. It is difficult to diagnose, a challenge to treat and potentially fatal. Currently, there is no known cause or cure. Lupus affects more than 5 million people around the world. You can contribute to finding a cure by voting for The Giving Block or donating cryptocurrency (IOTX coming soon!) directly to Lupus Foundation of America on their website.
Future plans for IoTeX & The Giving Block
IoTeX has a longstanding history with charity, raising ~700 ETH ($400,00 USD at the time) in two charity programs in March and May 2018. The first charity program sponsored the Ethereum Foundation to fund blockchain research and the second sponsored DoraHacks, a global blockchain hackathon organizer/incubator. We are excited to now bring charity into the IoTeX Delegates Program.
There are two primary goals at the intersection of blockchain and nonprofits: 1) use blockchain networks as a way to raise awareness and gather donations, and 2) ensure the charity’s funds are managed appropriately and transparently. We plan to explore how blockchain technology can benefit both of these goals — please stay tuned for more updates on our progress throughout 2019!