San Francisco is Positively Disrupting the Scene for Charity Fundraising
The benefit dinner held by The Tipping Point Community that raised $14 million dollars in cryptocurrencies for charity.
The Tipping Point Community is an organization set up to eliminate poverty in the San Francisco Bay Area since 2005. In one of their recent fundraiser gala dinner in May 2018, the organization started to accept cryptocurrencies including Bitcoin, Ripple, and Ethereum for the very first time. With $14 million being raised, the event can be considered to be extremely successful. Some of the prominent supporters of the event include the likes of the CEO of Ripple, Chris Larsen, the CEO and co-founder of Coinbase, Brian Armstrong, and CEO and founder of Pantera Capital, Dan Morehead. It took a simple setup to enable this. QR code linking participants to donation platforms are made available right next to the dinner menu. Participants can then select the preferred cryptocurrency to donate in such as in Bitcoin (BTC), Ripple (XRP), or Ethereum (ETH).
The Pineapple Fund had Also Positively Disrupted the Scene for Charity Fundraising
An anonymous donor who made his or her fortune through the rising value of BTC set up the Pineapple Fund to give back through philanthropy.
Back in December 2017, a mysterious organization known as the Pineapple Fund was set up to donate as much as $86 million worth of BTC to the world. The donor with the nickname “Pine” lays claim to being one of the top 250 biggest holder of BTC and will donate majority of his or her cryptocurrency to charities. Focusing on charities both large and small, “Pine” will select through an open application process, causes that he or she can relate to. Furthermore, he or she hopes to inspire others who acquired crypto fortune to take similar philanthropic path to make the world a better place. Some of the charitable organizations that received donations through this platform are The Water Project $1 million, Hearts & Homes for Refugees $100k, Wiki Edu $500k, Institute for Justice $ 2 million, Nuzzles & Co. – Pet Rescue and Adoption $1 million, Free Software Foundation $1 million, and many more. The donations made can be verified through the digital ledger system that records every transaction in an immutable manner and on a public database.
Having another channel for donors to reach out to corresponding charities is a step ahead in sharing the wealth. The remarkable performance of BTC especially for early investors has resulted into some unwary millionaires. And if they are not that game for just collecting riches and becoming mega rich then it is great that philanthropy and charity can be a formidable option here.