Cryptocurrency has an incredible use when it comes to charity. Not only would many consider that crypto is far easier to donate than FIAT currency, psychologically, one could assume that crypto is far easier to dispose of in this manner. Moreover, the process of mining cryptocurrency means that people can offer their computing power to charities, who in turn can use the power to mine cryptocurrencies like Bitcoin that in turn can be used to fund the charities efforts. This is almost free money (aside from a slight increase in energy bills).
According to Fundraising.co.uk, Change.org and TracyLocke Brazil, a marketing agency have produced a screensaver which when live, mines for Bitcoin. This product is being aimed at companies who have a lot of computers that have a lot of idle time, over lunch breaks and evenings. Within these computers exists an awful lot of untapped processing power. Simply install the screensaver, then let it run overnight.
According to Fundraising.co.uk:
“Once mined, all of the micro-fractions of Bitcoin automatically transfer to the Change.org Foundation account and become donations. Change.org estimates that 10,000 computers, using the screensaver for 12 hours every day, could raise around 10,000 USD worth of Bitcoin in one month. The project is also open source, meaning that other NGOs can develop their own fundraising projects using the platform.”
The donations will fall into a pool created by Change.org and will be distributed to the many different charities that operate through the Change.org platform. This is important because it means people and companies can get involved with this product in the knowledge that their donations are helping a range of different charities and are not simply just focused on one.
We will no doubt see more of this sort of stuff. This could cause environmental issues in the future but we know that the industry is working towards making mining a cleaner process. We must also consider that cryptocurrency mining won’t be around forever. Like gold, crypto is a finite resource (otherwise it would have no value) and therefore charities can’t rely on this technology forever.
They might as well make the most of it now though, right?