100 tidbits highlighting the intersections of blockchain, cryptocurrency, and social impact!
We can’t believe that we are already on our 100th Crypto Altruism Blog post, and want to thank everyone who has supported us so far. It has been an extraordinary journey as we have learned about the amazing potential of blockchain and cryptocurrency to revolutionize the social impact space. It has been inspiring to see all the amazing mission-driven work taking place in the space, and the future is certainly bright for blockchain and crypto for social impact.
To celebrate our 100th blog post, we will be sharing 100 tidbits on why we are bullish on crypto and blockchain for social impact, and why you should be too! These tidbits include brief highlights of exciting blockchain social impact projects, stats on crypto giving, inspiring quotes, and more!
100 tidbits on cryptocurrency and blockchain for social impact
1. UNICEF has launched a Crypto Fund to support the development of innovative humanitarian projects. To date, they have provided over 1325 ETH in investments to start-ups.
2. The Giving Block, one of the largest facilitators of cryptocurrency donations, is on pace to process over $100 Million in crypto donations this year and is projecting $1 Billion in donations to flow through their platform in 2022.
3. Code to Inspire is a non-profit based out of Afghanistan that “empowers young women in developing countries to drive economic and social progress by teaching them how to code, find programming jobs and launch technology ventures.” They have launched a curriculum in their school focusing on blockchain, smart contracts, Solidity, and dApps for their students, leading to five of the students joining the online ConsenSys Academy bootcamp.
4. NFTs are growing at a rapid pace. In fact, from Q2 to Q3 2021, NFT sales surged from $1.3B to $10.7B according to DappRadar, and this growth doesn’t appear to be slowing down anytime soon. NFTs provide an accessible entry point to the world of professional art for those who have traditionally faced barriers accessing the space.
5. ImpactMarket is harnessing the power of blockchain through their “decentralized poverty alleviation protocol”, which supports community-led Universal Basic Income (UBI) programs. This provides a community-centered alternative to the typical top-down aid projects where decisions on the provision of aid are made by centralized bodies.
6. This Quote from Ettore Rosetti, Senior Advisor at Save the Children: “Beyond cryptocurrency contributions, what if blockchain technology could be used to make supply chains more efficient, transactions more transparent, and end world poverty through decentralized universal basic income as a form of unconditional cash vouchers? That would be a dream worth holding onto. Since our founding more than 100 years ago, Save the Children has reached more than 1 billion children. Perhaps the next Bitcoin billionaire can help us reach the next billion children.”
7. There are a number of high impact blockchain projects currently underway that are providing essential support to refugees including virtual banking services, a means to safely transport their money across borders, access to Universal Basic Income and other aid, and more.
8. Médecins Sans Frontières recently received a donation of $3.5 million in what was the world’s largest cryptocurrency donation from an NFT project.
9. Universities are quickly getting on board with cryptocurrency and blockchain. In fact, dozens of top tier universities are now offering courses in blockchain and crypto including but not limited to Massachusetts Institute of Technology (MIT), Cornell University, University of California, Berkeley, Stanford University, Harvard University, Columbia University, and many, many, more.
10. Crypto is truly global. According to Chainalysis’ 2021 Global Crypto Adoption Index, 85% of the top 20 countries in adoption are located in Asia, Africa, and South America. This demonstrates the extraordinary appeal of cryptocurrency in the Global South, and how quickly it is being adopted in these areas.
11. Save the Children Rwanda and the Cardano Foundation recently announced a partnership to help raise funds in ADA in support of African-based social enterprises focusing on children, families, and youth, such as those supported by the recently launched Kumwe Hub, which seeks “to bring together innovation and impact investment across Africa, with blockchain central to both.”
12. Satchel, a blockchain-based platform developed by Blockchain at Berkley, provides unbanked communities with an open-sourced mobile application that allows communities to pool their funds together, which they can then lend out through the platform to earn interest. The interest generated through the loaning of funds can go back to the lender as a form of income or can be used to make improvements to local communities.
13. Seed Club is a social token incubator that helps developers launch successful social tokens. “We partner with creators, bringing access and insight from a diverse group of advisors, marketers, token designers and technologists, who all share in the upside of successful projects.”
14. A career in blockchain can lead to a life of prosperity. According to Zip Recruiter, at the time of this post, the average annual pay for a Blockchain Developer in the United States is $154,550 a year, or $74.30 an hour.
15. Oxfam International launched the “UnBlocked Cash Project” (UBC), which is a blockchain-powered cash transfer solution that helps deliver aid in a way that is more efficient, transparent, quick, and cost-effective. This program has assisted over 35,000 beneficiaries by distributing over $2 million in global aid to 15 partner organizations.
16. Diversity in blockchain and crypto is rising, especially as it pertains to women working in the space. In fact, one study found that the number of women involved in the space is skyrocketing, with a 43% increase in the first quarter of 2020 alone.
17. Crypto Kids Camp is a non-profit that aims to “accelerate children’s knowledge of technology for the future of work.” Through their educational programs, they teach campers aged 5 to 17 about cryptocurrency, blockchain, and other important technological trends.
18. The United Nations has acknowledged the power of blockchain in combatting climate change: “the UN believes that blockchain, the technology lying behind these online currencies, could be of great benefit to those fighting the climate crisis, and help bring about a more sustainable global economy.”
19. Thanks in part to the growing popularity of crypto in the region, Latin America has experienced a boom in Venture Capital funding, going from $4 billion in all of 2020 to more than $6 billion in the first half of 2021.
20. Kotani Pay, a start-up based out of Kenya, is providing a solution to allow “unbanked populations in developing countries to send and receive money via blockchain technology without the need for internet connectivity, a smart phone, or a bank account.”
21. Diversity in the space is growing. According to a 2020 report by Coinbase, among college educated Americans, Black Americans (75%) were almost twice as likely as White Americans (39%) to express interest in learning more about cryptocurrency.
22. HerStory DAO, an exciting new project, is “an art collective dedicated to preserving and incubating the stories of Black woman creators in NFTs. They became known after bringing Black artists, collectors, and allies together to bid on two NFT art pieces by Black female rapper Latasha and an Ethiopian family of visual artists that go by the name Yatreda.”
23. This quote by Sergey Nazarov, Founder of Chainlink: “Cryptographic truth is a superior way for the entire world to operate. Once you experience the transparency, personal control and lower risks of a world powered by truth, rather than a world backed only by "just trust us" ideas, you simply cannot go back.”
24. Crypto and DeFi are helping create a more environmentally friendly financial sector. It can help replace the legacy financial sector which has hundreds of thousands of bank branches, an estimated 3.5 million ATMs, and towering skyscrapers.
25. Women in Blockchain is one of many amazing women-led blockchain collectives looking to be a catalyst for women in the crypto and blockchain space. They offer opportunities for meetups of those working in the space, help facilitate connections between women developers, and help inspire and encourage women to enter the space.
26. Many amazing blockchain projects are using decades old USSD technology to help the 2.4 people still using basic phones access essential financial services.
27. The Celo Foundation has launched a Climate Collective aimed at tokenizing rainforests and carbon sequestering assets to help fight climate change.
28. The Giving Block has launched the Crypto Adoption Fund, which will aim to raise $10 million in 2021 to support more than 600 pro-crypto non-profits.
29. Hundreds of amazing non-profits from all the world now accept cryptocurrency donations to support vital social causes. We highlight some of these extraordinary organizations in the Crypto Charities section of our blog.
30. This quote by Vitalik Buterin: ““If crypto succeeds, it's not because it empowers better people. It's because it empowers better institutions."
31. Prescrypto, a project based out of Mexico, is using blockchain to revolutionize the way sensitive clinical data is managed. They have developed RexChain, a blockchain platform that guarantees the portability of sensitive data safely and securely.
32. The founder of MakerDAO, Rune Christensen, is working to build a more sustainable MakerDAO, stating that “the protocol’s collateral should be invested into sustainable real-world assets (RWAs) through senior credit positions in projects that build “solar farms, wind turbines, batteries, recharging stations and other cost-efficient renewable energy solutions, as well as their supply chains, sustainable resource extraction and recycling.””
33. VeChain has launched a Digital Carbon Footprint SaaS service which is “a powerful, rapidly deployable tool, enabling enterprises of all sizes to re-engineer their carbon footprint data management practices. This new offering is also the first of its kind to benefit from the combination of decentralized ledger technology and an SaaS business model.”
34. The American Cancer Society recently launched a Cancer Crypto Fund with the goal of raising $1 million to support cancer research. All crypto received through the fund will go directly towards cancer research for “new discoveries and better treatments”.
35. Some coffee producers in Indonesia have begun using blockchain technology to help track and trace their coffee beans to help verify the safety and quality of their coffee. “Upon purchase, consumers are also able to scan a simple QR code using their smartphone to access the entire information behind their coffee, including harvesting, roasting, and shipment times and dates.”
36. This quote from Silvio Micali, Founder of Algorand: “The power and advantages of decentralization are becoming increasingly clear. We deserve a financial system where no one can be censored or excluded from full participation.”
37. Built with Bitcoin is a “humanitarian organization devoted to creating equitable opportunity by providing clean water, access to quality education, sustainable farming, and humanitarian support—all powered by cryptocurrencies.” Their overall vision is “to build 100 communities, improving the physical, mental, environmental, and financial health of those in need—one Bitcoin at a time.”
38. There are a growing number of groups promoting diversity in the crypto and blockchain ecosystem, helping ensure equity and inclusion in the space.
39. StaTwig hopes to improve supply chains by utilizing blockchain technology to create greater efficiency in food and vaccine supply chains, which could help reduce substantial waste.
40. Blockchain spending by corporations is expected to grow drastically to $20 billion per year by the end of 2024. With a massive influx of cash entering the space, it bodes well for career prospects in the space, while this embrace of blockchain by corporations will help create a more efficient, environmentally friendly corporate sector.
41. Klima DAO is building a carbon-backed digital currency, with each token backed by one tonne of verified, tokenized carbon reduction or removal. “Klima DAO’s goal is to accelerate the price appreciation of carbon assets. A high price for carbon forces companies and economies to adapt more quickly to the realities of climate change, and makes low-carbon technologies and carbon-removal projects more profitable.”
42. This quote from Chris Dixon, Katie Haun, and Ali Yahya, Partners at a16z: “We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed.”
43. Coinsence Services, based out of Tunisia, has developed a means for communities to create their own currencies to mobilize resources in support of important social impact causes. “These community currencies can be used to make collective funding decisions, trace transactions, reward contributions and to mobilize further resources across different sectors.”
44. Crypto whales have donated billions to worthy charitable causes. This includes a $1 Billion donation from Vitalik Buterin to help fight COVID-19 in India.
45. Several cryptocurrencies such as Algorand and Cardano are working to achieve sustainability and carbon neutrality, leading the way for new “green blockchains”.
46. The Building Blocks program developed by the World Food Program is providing 100,000 Syrian refugees with the ability to purchase groceries using aid provided by the WFP by simply scanning their iris at checkout. This program is built on a private, permissioned blockchain, and integrated with pre-existing biometrics’ technology utilized by the UNHCR, enabling them to easily keep track of every transaction for monitoring and evaluation purposes.
47. This Quote from Perianne Boring, Founder and President of the Chamber of Digital Commerce: “Blockchain technology has such a wide range of transformational use cases, from recreating the plumbing of Wall Street to creating financial sovereignty in the farthest regions of the world.”
48. Beeple, one of the world’s most well known NFT artists, recently sold an NFT for $6 million and donated the proceeds to the Open Earth Foundation.
49. NFTs will create a more accessible and equitable artistic sector. For example, record labels typically pay out only 10-15% of album retail, with the vast majority going back to the label, and their wealthy owners or shareholders. Spotify, on the other hand, pays an average royalty of a measly $0.004 per stream. These “middleman organizations” funnel profits away from artists, and into the pockets of the likely already rich owners or shareholders.
50. Xcapit, a project based out of Argentina, is developing a blockchain and AI-based solution to help individuals in Latin America who lack access to financial services learn about finance, plan financial goals, and save and invest money.
51. This quote from Charles Hoskinson, CEO of IOHK: “Cardano is an open platform that seeks to provide economic identity to the billions who lack it by providing decentralized applications to manage identity, value and governance.”
52. An exciting project involving TAAL, nChain and EHR Data, is using blockchain to provide “a real-time single source of truth for all opioid prescriptions and eventually all prescriptions, so providers and pharmacists will have access to the most current and complete patient records.”
53. Leaf Global Fintech, a project based out of Rwanda, is providing blockchain-based virtual banking services to support forcibly displaced people and vulnerable populations.
54. This quote from Ginni Rometty, CEO of IBM: “Anything that can conceive of as a supply chain, blockchain can vastly improve its efficiency- it doesn’t matter if its people, numbers, data, money.”
55. Good Dollar is a “non-profit organization on a mission to leverage new blockchain technologies to deliver a scalable, sustainable model to deliver basic income.” Similar to social impact bonds or endowments, GoodDollar uses interest made from principle invested by users to fund its basic income program.
56. This quote from Vitalik Buterin: “Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.”
57. In response to the Hong Kong pro democracy newspaper, Apple Daily, being shut down, cyber activists in Hong Kong started uploading documents and articles from the newspaper to a censorship-proof blockchain, so that the articles from the newspaper can live on forever.
58. Accepting cryptocurrency donations provides non-profits with a more cost-effective alternative to traditional giving platforms, which can charge as much as 8%-15% in fees.
59. Etherisc is using the Ethereum blockchain, Chainlink Oracle network, and smart contracts, to provide cost-effective crop insurance to smallholder farmers in Africa, helping them adapt to increasing extreme weather due to climate change.
60. NFT4Good recently sold NFT trading cards of Asian Celebrities, with the proceeds of $80,000 going to #HateIsAVirus, an Asian American and Pacific Islander oriented anti-racism non-profit.
61. This quote from Patrick Byrne, CEO of Overstock.com: “You’re going to start seeing open-source, self-executing contracts gradually improve over time. What the Internet did to publishing, blockchain will do to about 160 different industries. It’s crazy.”
62. Grassroots Economics, a project based out of Kenya with the support of the Red Cross, is using blockchain to help communities develop community inclusion currencies (CICs), which are community-driven basic income programs.
63. The ReSea Project, an organization based out of Denmark with the mission “to end the ocean plastic crisis while making waves beyond the sea we work in,” is partnering with VeChain and DNV to verify Ocean plastic cleanup via blockchain.
64. DAOs are revolutionizing the way start-ups seek out funding by providing a decentralized approach to funding high impact projects, led by community members. An example of one DAO doing this today is MetaCartel Ventures.
65. This quote by Bob Grefield, Former Chairman of Nasdaq: “[Blockchain] is the biggest opportunity set we can think of over the next decade or so.”
66. IOHK, the group that founded Cardano, is working with Ethiopia’s Ministry of Education to implement a digital identity for five million students and teachers based on Cardano’s blockchain and Atala PRISM technology.
67. Floor NFT, an exciting new NFT project with a charitable focus, will be donating $77,777 to a community voted charity upon sell-out of the NFTs.
68. Bankless DAO is an exciting new project with the mission of helping the world go bankless, and is a “decentralized community to coordinate and propagate bankless media, culture, and education. Its goal is to drive adoption and awareness of truly bankless money systems like Ethereum, DeFi, and Bitcoin.”
69. The Refugee Integration Organisation (RIO), is using the innovations of blockchain and cryptocurrency to provide UBI to individuals residing in three refugee camps. This project makes use of the Celo cryptocurrency to provide $1.50 of daily UBI to refugees, which is delivered in local currencies with no need for repayment.
70. This quote by Charles Hoskinson, Founder of IOHK: “Central Banks will fade away...and good riddance.”
71. Innovative blockchain-based projects are revolutionizing the supply chain industry by making it more reliable, energy efficient, secure, auditable, and by cutting down on massive amounts of waste. Blockchain will be a staple in the supply chain industry in the not-so-distant future.
72. BX Smart Labs, a project based out of Mexico uses a decentralized application built on blockchain to enable savings circles, which are a common means for saving money in lower-income and rural populations, to be implemented remotely, securely, and with a high degree of transparency.
73. In an effort to raise funds for the charity Disaster Relief, Charmin, yep the toilet paper company, is selling toilet paper themed NFTs, aptly nicknamed NFTPs.
74. This quote from Julia Sweet, CEO of Accenture: “Blockchain should be used to address opportunities and problems that lack easier answers.”
75. Endaoment, a registered charity, is an innovative new community foundation offering Donor-Advised Funds (DAFs) on the Ethereum blockchain. Through these funds, individuals can donate to any qualified 501(c)(3) non-profit.
76. The Rahat Project, a blockchain-based project out of Nepal aims to provide quick and efficient aid to victims of natural disasters via innovative, mobile-based blockchain tokens.
77. Blockchain technology is revolutionizing the health care sector by helping public health officials keep track of important data, develop secure records, and much more!
78. To date, Binance Charity, the charitable arm of the large crypto exchange, has donated over 1,200 Bitcoin ($75,000,000), helping almost one million beneficiaries. They’ve supported a number of important projects including COVID-19 relief, Haiti earthquake relief, ensuring access to menstrual products for women and girls in Africa, and more.
79. The crypto and blockchain space has a robust ecosystem of informative and educational podcasts, many of which are starting to explore the connections between crypto/blockchain and social impact.
80. This quote by Zach Bronstein, COO of Endaoment: “DAOs can accomplish even more…by embracing what corporations have only recently made a priority: social responsibility and impact investing. With the members serving as the key stakeholders and decision makers at each DAO, these communities are already primed not just to give back to causes they care about, but also to subsequently create a positive feedback loop.”
81. Cryptocurrency adoption has gained incredible momentum in Africa, with six of the top twenty adopter countries, according to Chainalysis’ Global Crypto Adoption Index, being located in Africa.
82. Fishcoin is a blockchain-based seafood traceability project, which “incentivizes supply chain stakeholders to share data from the point of harvest to the point of consumption.” This helps create a more open, transparent, and accountable seafood industry.
83. MintGreen, a green cryptocurrency miner, will be using Bitcoin mining to supply heat to a BC city while cutting down on greenhouse gasses entering the atmosphere.
84. Blockchain based decentralized social media platforms can help revolutionize social media by taking power away from centralized authorities, such as Facebook, and giving users control over their data, transforming them from a product to a collaborator.
85. Somish Blockchain Labs, based out of India, is building GovBlocks, a blockchain-based voting protocol for Web3 businesses. “Think of it as an ERP solution for new-age businesses that are built with a community-first approach - where decisions are taken by a community, and not just the board members.”
86. This quote by Alex Wilson, Co-Founder of the Giving Block: "Crypto users are not just the fastest growing, but arguably the most desirable donor demographic."
87. An exciting new 30-day campaign by Jelurida will provide blockchain and cryptocurrency education to universities, financial institutions, and public offices in Africa.
88. There are dozens of amazing Cardano stake pools which donate a percentage of their gains to a variety of social causes including C02 reduction, supporting LGBTQ causes, child welfare and empowerment, protecting oceans, and more!
89. IBM Japan recently announced a partnership with Mitsubishi to use blockchain to help track the capture and re-use of CO2, helping companies lower their carbon footprint and work towards achieving carbon neutrality.
90. Treejer Protocol, a project based out of Iran, is working to connect tree funders to rural planters all over the world. “The protocol uses blockchain-based smart contracts to receive funding for trees and redistribute it to planters and other stakeholders in a transparent way.”
91. This quote by Jordan Kruger, CEO of Vesper Finance: “DeFi has the potential to create equal opportunity through peer-to-peer networks. It's one of the greatest advantages it offers.”
92. Elongate, a cryptocurrency built on the Binance Smart Chain, has raised nearly $3.5 million for charities through their protocol. A 10% fee for transacting in Elongate rewards token holders while a significant sum from each fee is donated to a variety of charitable causes.
93. NFTs have massive potential to revolutionize the way non-profits fundraise. We have already seen multi-million-dollar donations facilitated through the sale of NFTs, and non-profits drop their own NFT collections to raise funds to support their causes.
94. Some non-profits, such as Virunga National Park, the organization that oversees the famous protected area and UNESCO heritage site in Africa, have begun directly accepting NFT donations.
95. Blockchain games like Axie Infinity are leading the play-to-earn revolution, and are providing individuals in countries like the Philippines with new opportunities to increase their income and improve their livelihoods.
96. The Giving Block, a leading crypto giving platform, recently formed a partnership with RenPSG, a $16B charity provider, to provide its donors with an opportunity to move cryptocurrency into new donor-advised funds in support of non-profit organizations.
97. PrimeDAO, a project looking to facilitate greater collaboration amongst DAOs, recently secured $2 million in seed funding for its DAO2DAO (D2D) platform that will help DAOs facilitate agreements, share ownership over joint assets, execute joint ventures, and more. This exciting initiative could help lead to a more coordinated DAO ecosystem.
98. As Afghanistan suffers through a humanitarian crisis, Care.org has raised more than $200,000 to help Afghans in need through the sale of unique NFT CARE packages.
99. This quote from William Mougayar, Chair of the Kin Foundation: “The blockchain symbolizes a shift in power from the centers to the edges of the networks.”
100. In 2017, the European Commission launched a new funding prize, “Blockchains for Social Good”, awarding five prizes of one million Euros each to “innovators that use Blockchain technology to develop decentralized solutions bringing about positive social change”
The momentum in the cryptocurrency and blockchain for social impact is incredible, and shows no signs of slowing down. With new social impact projects launching each day, it will be exciting to see what exciting innovations come next in support of a better world!
What do you think of the future of crypto and blockchain for social impact? What are some other exciting tidbits that weren’t included in the list above? Tweet us at @Crypto_Altruism, we’d love to hear from you!
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