Give Crypto is a charitable organization distributing small payments to individuals in need using cryptocurrencies. The project was launched on June 27th, 2018 by founders Rose Broome, and Brian Armstrong, who began the donations with $1 million of his own cryptocurrency. In addition to Armstrong, initial donations were received from Chris Larsen, Ron Conway, Fred Wilson, Brad Garlinghouse, and Zooko Wilcox, Fred Ehrsam, Linda Xie, Kathryn Haun, Matthew Roszak, and others.
The fund is designed such that 100% of donated funds go to recipients and operational costs are covered by founding members. The payments are made as unconditional money transfers via cryptocurrency transfer. Give Crypto will be initially traveling to regions to determine the distribution of funds in person as well as collaborating with other giving institutions, but also has mentioned other techniques for distribution such as trust social graphs and physical location collection using augmented reality.
Bitcoin for the Poor: Coinbase CEO Launches GiveCryto, Aims to Raise $1 Billion
Jeff John Roberts
Charitable giving with cryptocurrency – GiveCrypto.org – Medium
Introducing GiveCrypto.org – GiveCrypto.org – Medium
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- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
- BitcoinBitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
- EthereumEthereum is an open-source, public, distributed blockchain computing platform featuring smart contract (scripting) functionality, which facilitates online contractual agreements.
- Bitcoin CashBitcoin Cash is a peer-to-peer electronic cash hardforked from the Bitcoin blockchain.
- LitecoinLitecoin (LTC or Ł) is a open source peer-to-peer cryptocurrency forked from Bitcoin by creator Charlie Lee. A key difference from Bitcoin is the decreased block generation time.
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