Philanthropy is one use-case for cryptocurrency that is overlooked and not understood by a lot of crypto users. Whilst most projects in the space are busy building new blockchain networks, Defi protocols, games, and metaverses, other projects are focused on trying to tackle issues facing the world and the people who inhabit it.
These projects aim to tackle issues related to education and technological access in developing nations, mental health issues, humanitarian issues and environmental problems.
Let's look at four different cryptocurrency projects with philanthropic values.
Binance Charity is a non-profit, blockchain-enabled donation platform that aims to support the UN's Sustainable Development Goals by working to eradicate poverty, fight inequality and ensure the health of the people and our world. The charity was started by the crypto exchange Binance and has already donated $10 million to help with the Ukraine crisis.
The philanthropy project has worked with multiple organizations to assist Ukrainian children and families, as well as those who have fled to neighboring nations. These organizations include:
The charity has also built fundraising platforms to help users donate crypto to people in need during humanitarian crises and times of war.
A crypto-first crowdfunding platform named Ukraine Emergency Relief Fund was developed by Binance after the turmoil in Ukraine. The platform enables users to donate Bitcoin to aid refugees and children in need. Users can also help refugees by providing food, gasoline, and supplies via the fund. As of today, about 60% of the fund's $20 million goals have been raised so far.
Binance Charity believes that cryptocurrency contributions provide more transparency in the utilization of funds. Unlike fiat currency, crypto donations can be monitored until they reach their destination, which Binance has used for its charity platform from its inception in 2018.
Philcoin is a Binance Smart Chain (BSC) philanthropy project. By promoting the spread of relevant skills within communities of interest, Philcoin hopes to drive global development by addressing the problem of unequal access to technology in emerging nations.
Most people in developing countries don't have access to the kinds of technologies that are common in modern economies. Access to banking services and credit, which are the backbones of developed economies, is also very limited in less-developed communities, where it would be most useful to have access.
The goal of the platform is to build an ecosystem that includes different kinds of communication infrastructures and where normal online interactions also lead to skill-creation, distribution, and development. This will allow users to make money from their efforts while doing normal online things like chatting, looking for entertainment, or getting other services that make money.
The platform plans to leverage its educational resources and partnerships to enable users to earn its native token $PHL in exchange for partaking in the IoT space. The token will be used primarily within their app, PHILApp, which aims to provide education on soft skills and technology to unbanked users. Staking choices, educational and charitable opportunities, and an encrypted chat feature are among Philcoin's declared goals in completing the United Nations' 17 Sustainable Development Goals.
HappyCoin is a cryptocurrency project that is dedicated to tackling mental health issues by donating money to mental health organizations every week. Funds are raised via a charity wallet that retains 3.5% of the initial token supply. This wallet is then used to finance donations with previous donations including:
The promotion of mental health awareness is one of the core principles of the project and they have provided incentives for token holders to encourage the growth of the project. For example, the project has a 10% tax that is charged on every transaction made with its native token $HAPPY. Out of this tax 5% is burned to reduce the token supply and the remaining 5% is redistributed to token holders.
According to the World Health Organization (WHO), mental illness, neurological problems, and substance abuse make up 10% of the global disease burden. Almost everyone on Earth has been affected in some way by these issues or knows somebody who has been affected. HappyCoin aims to improve awareness of mental health issues and help out organizations that tackle these problems via donations.
Aquari is an organization that works to protect the environment and is powered by cryptocurrency. Its goal is to return the oceans on Earth to their original, clean and unpolluted state.
The project isn't just a token. They aim to create a system that will change how people finance efforts to protect the environment in our modern world. At the moment, organizations that work to protect the environment must go to multimillionaires, billionaires, and corporate sponsors to get enough money to stay in business. There are many problems with the way things are done now.
The first problem is that many corporations have decided that the most important things are those that make money (or add value). Most of the time, this has worked well enough to distribute resources and coordinate supply chains in the many industries where a profit incentive is easy to use. But in fields where it's hard to make a profit, such as environmental conservation, this has failed horribly. This is because no one has yet found a way to make protecting our environment profitable.
Aquari wants to fix this problem by using their $AQUARI token which will help the project to raise funds that can be used in initiatives that aim to protect the environment. The project charges a tax of 10% of the total value of each transaction. The tax will be split into three parts: 4% will be burned to provide liquidity, 3% will be redistributed to all Aquari holders, and 3% will be sent to a donation wallet to fund the work of the Aquari Non-Profit Organization.
We've looked at four different crypto projects with philanthropic values, from educational and development initiatives to tackling mental health issues, humanitarian issues and protecting the environment. Whereas a lot of crypto projects may be focused on technological protocols or generating wealth, it's good to see that there are projects that focus on the greater good too.