Bitcoin will assist the Hurricane Dorian relief effort to help the Bahamas recover from the damage caused by the hurricane. Cryptocurrency exchanges, namely Bitpay and Coinbase, will facilitate crypto donations for the project.
Hurricane Dorian: Efforts by Coinbase and Bitpay
The effort was started by Bahaman charity organization known as Lend a Hand Bahamas. The organization created an account on the Coinbase Commerce network in the wake of Hurricane Dorian. The account was made by Lend a Hand Bahamas to receive crypto donations.
Looking for a way to help those affected by Hurricane Dorian? Lend a Hand Bahamas has set up a Coinbase Commerce account to easily accept crypto donations for relief efforts. Donate here:https://t.co/RelnGlc4L2
And learn more about Lend a Hand Bahamas: https://t.co/HR3RCLC77l
— Coinbase (@coinbase) September 4, 2019
According to the organization, the donated funds will be used to promote educational incentives in the region. Bitpay joins Coinbase in these efforts as Bitpay also accepts Bitcoin donation for Lend a Hand Bahamas.
Although Lend a Hand Bahamas is using a middle man to process the donations, blockchain technology can still prove revolutionary to the sector. Charities and charity organizations are required to maintain the highest level of transparency to gain trust for their cause.
Blockchain technology is the perfect solution to this as the donations can be tracked in real-time. Furthermore, the use of cryptocurrencies reduces the cost of these transactions, significantly making the process more feasible. The process is highly favorable as no currency conversion fees have to be paid, and people can donate from anywhere anytime.
Blockchain is being utilized in other charities as well. Currently, people are trying to use blockchain technology to raise funds for saving the Amazon rainforest in Africa. Previously, attempts were made at starting a crypto donation program to raise funds for the reconstruction of France’s Notre Dame Cathedral.