Blockchain-based payment platform, UTRUST and AidCoin will combine forces to enable charitable donations across the world in 23 different cryptocurrencies.
The project is being launched to simplify donations in multiple countries via the UTRUST interface. The new system is set to replace methods whereby a donor transferred and then converted funds into AidCoin tokens or through a donate button allowing donors to transfer UTK from their UTRUST wallet to the AIDChain wallets of various charities.
The new donation system called AIDPay is a widget which allows the donor to use any one of 23 supported cryptocurrencies to pay charities registered with AIDChain online using a fully trackable system including how the money is dispersed and what on.
There’s been a significant rise in the number of charities supported by cryptocurrency donations in the recent years. Some of these include Electronic Frontier Foundation, Multidisciplinary Association for Psychedelic Studies, WikiLeaks, Antiwar.com, Watsi, Water Project, Code to Inspire, BitGive and Epic Change.
In such a scenario, not even a single day passes without the release of another crypto-aid project or a way to make donations and fund utilization more transparent so that NGOs and private charities are more accountable.
Brian Armstrong, the CEO of digital currency service Coinbase, recently announce the launch of a project to help the homeless and other people out of poverty with a personal USD 1 million donation. GiveCrypto is a global enterprise which will make cryptocurrency donations to worthy recipients, who will then be able to make personal choices in whether to keep their cryptocurrency donations or exchange them for fiat.
Madonna with her Raising Malawi project has built 14 schools in rural Malawi and in partnership with buildOn have educated community members about the importance of girls’ education in that country. Ripple too, was quick to support her project with a dollar for dollar match of donated funds.
Even English Heritage, a UK charity that provides the country with access to over 400 historical sites, buildings, monuments and places, has found a way of making the technology behind Bitcoin play its part in supporting that country’s historical heritage by partnering with charity platform Giftcoin.
UTRUST’s move is another link in the chain allowing cryptocurrency funds to continue flowing towards needy causes — a forgotten fact by dissenters who happily feed the FUD in these volatile times.
Francesco Nazari Fusetti, CEO and Founder of AidCoin commented:
“We’re excited to introduce an opportunity for crypto-holders to donate cryptocurrency straight from their Utrust wallets seamlessly, or when making a payment…This is, of course, a well-established practice in conventional banking and payments solutions, and yet until now, has been an unprecedented case in the crypto world.”
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