In Nigeria, a development aid organization has built water wells in at least one 1,000 Nigerian Villages accomplished. Remarkable is the fact that the money donated came entirely from bitcoin (BTC) donors.
Bitcoin and Charities
The organization, the Built With Bitcoin Foundation, aims to use the best aspects of bitcoin to improve the opportunities of communities in developing countries. According to a top executive at Built With Bitcoin, Yusuf Necessary, bitcoin is excellent for donations due to its transaction speed and cross-border nature.
Two days ago, Necessary announced on Twitter that they had completed a major project to provide 1,000 Nigerian villages with clean drinking water by building wells.
Thank you to @BitcoinMagazine @TheBitcoinConf and all those that contributed to this project in Kogi State, Nigeria. the #Bitcoin community was truly responsible for this project. @raypaxful @builtwithbtc https://t.co/wGrWnd6A8J
— Yusuf (@YusufBWB) August 18, 2022
In addition to, for example, building water wells, Built With Bitcoin also offers communities the opportunity to learn about bitcoin. According to the organization, this is important because many people in developing countries do not have access to a bank account at all.
“Thanks to the donations raised at this year’s Bitcoin conference, this community in Nigeria has a new water system that keeps them hydrated and healthy so they can thrive in school, work and life,” Yusuf said.
Currently, the Built With Bitcoin structure ensures that 92% of donations go directly to the specific project they are currently working on, while only 8% covers administration costs. Other related costs, such as staff salaries, are covered by a separate grant fund.
crypto donations
cryptocurrencies are increasingly used when making donations, especially if this involves sending money abroad. Another good example is Ukraine. Since the Russian invasion of this country, Ukraine has received many millions in cryptocurrency donations.
In total, about $54.5 million has been donated to the Aid for Ukraine fund, which was made by Minister Mykhailo Fedorov. a few days ago familiar.