The quantity of cryptocurrencies available on the market has skyrocketed from 500 in 2014 to almost 7,000 solely seven years later in October 2021. A reported 14% of individuals in america — which roughly equals 21.2 million individuals — have bought some type of cryptocurrency, with greater than 300 million crypto homeowners estimated worldwide.

It’s clear: Cryptocurrency is right here to remain, and its path to world recognition and success has solely simply begun. I’ve shared earlier than how and why revolutionary sectors of longevity and biotech ought to cooperate with digital foreign money visionaries to future-proof their work. Crypto founders, CEOs and purchasers are already breaking down limitations and contributing to a extra decentralized future of their on a regular basis lives. By empowering people with entry to numerous belongings and alternatives to take a position outdoors of conventional monetary choices, the cryptocurrency business is making a future constructed with innovation in thoughts.

I see no motive why this innovation ought to stay locked in these tech-oriented sectors — the philanthropic world can and may profit as effectively. Accepting donations in crypto is a simple first step that demonstrates to the broader neighborhood that a company acknowledges its significance and is able to embrace disruptive expertise.

Philanthropic initiatives

A number of philanthropic initiatives in our discipline of longevity have already performed so. The SENS Analysis Basis is a number one longevity analysis group that goals to analysis, develop and promote complete options for aging-related ailments. By educating most people about new developments and attracting educated donors, the SENS Basis helps initiatives working to remedy coronary heart illness, most cancers and Alzheimer’s. Notably, it has made cryptocurrencies an integral a part of its operations. SENS accepts donations made in 72 completely different cryptocurrencies starting from Bitcoin (BTC) and Ether (ETH) to Dogecoin (DOGE) and Aave (AAVE).

In 2018, Vitalik Buterin donated $2.4 million in ETH to the Basis, and different crypto visionaries have adopted swimsuit. Richard Coronary heart, the founding father of HEX, launched an airdrop in partnership with SENS that referred to as on customers to donate a portion of their cryptocurrencies and be entered to win Coronary heart’s new cryptocurrency PulseChain. The PulseChain airdrop raised over $25 million to help the Basis’s work, which is obvious proof that collaboration between cryptocurrency and longevity might be an extremely highly effective software.

Cryptocurrency can really make a distinction by serving to individuals

I might be remiss to miss the newly introduced Longevity Science Basis, which I assist run. We settle for donations in all main cryptocurrencies and plan to work carefully with leaders within the crypto business to construct a decentralized and clear mode of funding. As a result of all donors, crypto leaders included, obtain voting rights within the Basis’s funding selections, the Basis has dedicated to supporting initiatives that replicate essentially the most visionary methods of viewing the world.

However in fact, accepting cryptocurrency donations will not be a phenomenon restricted to longevity nonprofits and foundations. Different founders and fundraising groups are waking as much as the unbelievable energy of cryptocurrency and the decentralization it presents. For instance, The Giving Block offers instruments for any non-profit to just accept cryptocurrency donations in addition to makes it simpler for philanthropists to make donations of their most popular digital foreign money to 400+ organizations just like the American Most cancers Society and No Child Hungry.

A number of different worldwide non-profits, together with St. Jude Youngsters’s Analysis Hospital and World Aid, are following swimsuit. If these world entities recognized for his or her charitable work and admirable objectives can embrace cryptocurrency and the donors behind it, so ought to different nonprofit organizations.

Digitizing charity: We are able to do higher at doing good

Name for motion

It’s time for the philanthropic and non-profit sectors to get up to the potential of digital currencies. Longer human lifespans, and plenty of different necessary developments, are in our attain, however help from numerous industries and minds is crucial.

Adopting ideas from the crypto business, equivalent to decentralization and tokenization, can enrich these foundations and modernize their operations whereas accepting donations in cryptocurrencies will assist be sure that innovators and change-makers can contribute to main developments. Collectively, we are able to construct a greater future with all of the instruments (and currencies!) at our disposal.

The views, ideas and opinions expressed listed below are the writer’s alone and don’t essentially replicate or signify the views and opinions of Cointelegraph.