Coinbase initiates charity for people in need

Coinbase initiates charity for people in need
Jun 28, 2018 by Rico Wise

Brian Armstrong of Coinbase has made an announcement of initiating a charity campaign directed at providing assistance to those in need by financially enabling them through global digital currency distribution. is a non-profit endeavor aimed at fundraising from digital currency holders and its further distribution in small volumes among people living in emerging markets, especially to those struggling with financial adversities. The campaign’s purpose is to assist people by directly giving them money, promote the advantages and real-world utilization of digital currencies and establish broad accessibility of an open financial system. aims to establish an initial fund in the amount of 10 million US dollars with 3.5 million US dollars already accumulated. As soon as the funds areraised, the cryptoexchange will bring together a team to handle the distribution of payments through specially appointed “ambassadors”.

The initiative claimed to include other experiments in terms of implementing methods of funds distribution, including cooperation with the already existing local non-profitable organizations, and declared developing an application to trace distribution. The campaign founders hope to research the usability of payments, ways of their exchange into local fiat currencies and the eventual utilization of donations.

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