Bitcoin Has Proven Itself The Ideal Platform For Philanthropy

In a recent report, the Ukrainian government has received over $20 million in donations to support its efforts against Russia. As you may know, donations began pouring in from around the world when Russia attacked. But Bitcoin stepped up to be the preferred platform for philanthropy.

People have always been very giving. Crowdfunding has been a longstanding method for helping out our neighbors, even when those neighbors are thousands of miles away. But there are times when companies or governments can step in to stop those funds from getting where they need to go.

Issues With Philanthropy

Henry Nicholls/Reuters

In fact, Patreon was the platform that Come Back Alive was using to accept donations. But, Patreon suspended the account because they have a policy that “does not allow any campaigns involved in violence or purchasing of military equipment.” Unfortunately, that can happen in this world when people are trying to help others in need, but there are conflicting ideologies.

Therefore, Come Back Alive had to find a different way to get it done. Philanthropy has a way of finding a new path when one gets blocked. And because of that, Bitcoin has now proven itself as the currency of choice to send funds immediately.

In the past, other currencies were used, and they were helpful. But, much less convenient because they had to be physically transported from Point A to Point B. That means they had to go through several hands, which takes time and is very costly. But, on the other hand, Bitcoin doesn’t go through anyone else’s hands. It’s a simple transaction from the original wallet straight to the end-user via a public address.

Anonymous Philanthropy

Dmitri Lovetsky/AP Photo

Donations are also anonymous, which keeps people from the threat of persecution if such a threat existed. With most of the world on the side of Ukraine and very few on the side of Russia, it’s good that Bitcoin can work anonymously. Unfortunately, there are Russians who are protesting their own government’s actions. Some of them are getting arrested and thrown in jail.

If they wanted to send donations, they could be persecuted for their philanthropy. That’s how Bitcoin protects donators. It’s the best currency that exists, and many experts have even said that it has already surpassed gold.

Bitcoin transactions occur immediately and anonymously. So it’s really a no-brainer why people have chosen it for philanthropy.

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