BitGive — the globe’s first bitcoin-based 501(c)(3) nonprofit — has joined hands with the University of Edinburgh to research and examine the effects of digital currencies on both national and international charities. Both organizations are seeking to develop a stronger, more organized system for allowing charities to accept virtual currency donations.
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BitGive previously made headlines in October 2017 when it launched its new GiveTrack platform, which uses blockchain technology to clarify and record digital asset donations to global charities. Individuals can trace their funds in real time, and see how their money is spent once an organization receives it. They are also informed of the charity’s project results, creating direct engagement between the donor and the receiver.
BitGive’s founder Connie Gallippi explained in a statement:
“It’s been incredibly rewarding to see our GiveTrack platform gain unabating momentum. Throughout this process, we’ve discovered numerous opportunities, as well as challenges and barriers, that have helped shape the development of our platform and define crypto-philanthropy. Using this knowledge, in tandem with the bright minds at the University of Edinburgh, BitGive will be delving into how to overcome the roadblocks to effective crypto-philanthropy and establish how cryptocurrency can best be used to uplift and revolutionize the charitable sector.”
BitGive and the University of Edinburgh are seeking to uncover the challenges of using and converting cryptocurrencies in third-world countries. To do this, BitGive will analyze data collected from GiveTrack’s implementations in nations like Indonesia, Kenya and India to better understand these regions’ levels of cryptocurrency acceptance and feasibility.
In addition, both organizations are also hoping collected data will shed light on merchant adoption, regulation, and the effects of cryptocurrencies on local governments and cultures in each country.
Research partner at the University of Edinburgh Dr. Claudia Pagliari says:
“Through
