WWF Italy opens to blockchain-based donations
Italian wildlife charitable body becomes the latest large NGO to endorse blockchain and join the cryptocurrency giving community.
World Wildlife Fund Italy – WWFI – has become one of the largest non-governmental organisations (NGOs) to register with the AIDChain platform, and connect itself to a system of blockchain-based services developed specifically to strengthen the third sector.
Its supporters now have the option to donate to WWFI in 23 different cryptocurrencies using proprietary blockchain technology.
The WWF has committed to spend the entirety of the funds raised in cryptocurrenies without converting to fiat. This means that ‘crypto will stay crypto’ throughout the entire donation ‘journey’ in order for donors to reap the key benefit of being able to track further funds redistribution.
“In joining the AIDChain platform, WWF advocates the importance of using blockchain technology when it comes to foster trust between parties that have in the past been breached by a clear absence of organisational accountability,” the fund said in a statement.
“The step by the WWF is poised to affect the way the global community perceive large charities, in terms of their structural complexity and widely considered opacity to the public when it comes to managing and allocating the funding raised,” said Francesco Nazari Fusetti, CEO and Co-Founder at AidCoin.
“In adopting AIDChain, charities and NGOs can make use of technology that can streamline the management of funds, and also provide donors with a new, active role: tracking and managing exactly how their money is being spent from start to end. WWF has aligned its values to that of AidCoin’s ultimate goal, which is to diminish the on going trust crisis throughout the third sector.”
For further explanation on blockchain in the charity sector, go to our article here.