Most times, emphasis on the crypto industry is focused towards the financial and commercial aspect and this is because crypto is an emerging industry that has proved to be highly profitable in the last few years. However, a lot of social good is being done through blockchain and cryptocurrency such as the use of blockchain for nonprofit purposes and the donation of cryptocurrency towards relief efforts in the case of several natural disasters.
Perhaps the biggest Eeco-elated disaster of current times is the raging fires in the Amazon rain forest and Rainforest Relief US, a nonprofit organization based out of New York, has decided to help out with relief efforts by combining cryptocurrency as well as blockchain technology to aid anti-deforestation efforts in both south and central America in order to preserve the Amazon rain forest.
This announcement was made on September 4, 2019, via Rainforest Relief US’s website in which they solicited for donations to aid relief efforts and also drew attention towards the deforestation attempts that have taken place in the Amazon rainforest particularly in the last year. The company will be taking donations in the form of several major cryptos such as bitcoin, ether, litecoin, bitcoin cash and so on which gives a wide range of possible donation methods for supporters.
“Since Bolsonaro took office in January, deforestation in the Brazilian Amazon is up 75% and forest fires in the Brazilian Amazon have doubled compared to the past year. As guardians of our rainforests, its animals and its people, we are working with The Giving Block to form a coalition of crypto sponsors, donors, and media partners who will help stop this devastation,” the post said.
Besides the donation of cryptocurrencies, the foundation also intends to make use of a blockchain pilot that will allow the tracking of donations by donors to ensure that the funds are being used for their proper purpose which helps to address the issue of misappropriation of funds that often takes place within the charitable organization industry and this creates another level of trust between donors and the organizations. This move, according to the company, was inspired by the dire situation currently taking place in the Amazon reforest.
“Business, as usual, has gotten us to this point. Philanthropy as usual won’t get us out. We need innovative solutions, and no one is more innovative than cryptocurrency users,” said Suzanne Pelletier, executive director at the Rainforest Foundation.