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OmiseGO and Vitalik Buterin Donate $1 Million in OMG to Impoverished Refugees

· April 1, 2018 · 4:00 pm

OmiseGO and Ethereum founder Vitalik Buterin are donating $1 million worth of OMG tokens directly to refugees living in extreme poverty. The donation will be made to GiveDirectly, a nonprofit organization operating in East Africa which will deliver the funds.


Helping the Unbanked

OmiseGO and Vitalik Buterin’s donation comes after many individuals in the cryptocurrency space have found themselves members of the newfound ‘crypto-rich’ community — often stereotyped as Lambo-buying millennials who’ve made fast fortunes from early cryptocurrency investments. The authors of the donation hope this newly-rich community will put their riches to good use.

refugee

In the official donation announcement, the philanthropists write:

The crypto economy has grown immensely over the last year, bringing a great deal of wealth to many people and organizations within the ecosystem. In part we simply see an exciting opportunity to share that wealth. We hope the fortunes made in the crypto space will lead not to extravagant lifestyles but to extravagant generosity.

OmiseGO has partnered with GiveDirectly to facilitate the donation, claiming both companies “share the view that providing alternatives to legacy systems can enhance accountability.” The authors note:

Refugees are a perfect population to serve through this effort. The world is in the midst of a refugee crisis, with more than 65 million displaced from their homes. […] Many also find it difficult to re-enter the formal financial system as they lack appropriate local documentation. They are precisely the people we wish to see benefiting from the “unbanking” effect that OMG is designed to create. We’re excited to plug them back in, transfer funds, and let them get to work.

Giving Season

OmiseGO and Buterin’s donation also comes alongside Ripple’s significantly larger $29 million to support public schools in the United States.

Ripple XRP

Ripple’s donation also comes in the form of cryptocurrency. The company donated XRP, Ripple’s scalable digital asset which aims to enable real-time global payments from anywhere in the world, to DonorsChoose.org — a US-based 501 nonprofit organization allowing individuals to donate directly to public school classroom projects. Claimed Ripple:

Our donation fulfilled every request listed on the nonprofit’s website yesterday. Today, nearly 30,000 public school teachers in every state and approximately one million students are receiving books, school supplies, technology, field trips, and other resources vital for learning through DonorsChoose.org.

Pineapple Fund donates $5 million to OMF

The Pineapple Fund has also notably donated large amounts of Bitcoin to charity. The philanthropic project created by an anonymous individual donated $1 million to the Open Medicine Foundation — an organization involved in research for ME/CFS (myalgic encephalomyelitis / chronic fatigue syndrome) and other related chronic complex diseases — on January 14th, 2018. The Pineapple Fund later upped their donation to $5 million following an outpouring of gratitude on social media.

What do you think about OmiseGO and Vitalik Buterin donating $1 million worth of OMG to refugees? Let us know in the comments below!


Images courtesy of Bitcoinist archives and Pixabay.

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Industry Report: Bitcoin Is Still on Drugs, No Detox in Sight

Source: bitcoin

Bitcoin Industry Report

Coinbase undergoes some changes, Bitcoin can’t break it’s drug habit, and Silk Road has a heart of gold. Here’s what you might have missed in this week’s cryptocurrency news:

Also read: Industry Report: Bitcoin Hears Thunder, Ethereum’s Biggest Crowdsale, Kaspersky Kills Crime

COINBASE

Bitcoin exchange Coinbase is changing its name to Global Digital Asset Exchange (GDAX) after announcing support for Ether trading on its platform. Why is Ether suddenly all the rage? Recently, Ethereum has launched the world’s largest crowdfunding campaign for its new DAO project, which is being hyped as the ultimate way to allocate capital. The campaign has managed to raise over $150 million USD, and everyone wants a piece of the action. Coinbase is now aiming to accommodate the growing list of financial institutions eager to trade Ether and bitcoin, respectively.

Ether has been a long-time rival of bitcoin, and now it’s finally earning its big moment in the spotlight. Vice-president of business development at Coinbase Adam White stated confidently:

“We’re very excited about Ethereum. There has been a ton of progress made in the last six to nine months… We have seen hundreds of emerging decentralized apps (applications launched on Ethereum… What’s powerful about ethereum is that I can write self-executing contracts, and I can run them on Ethereum, and it’s not on any central server or computer.”

BITCOIN CAN’T GET OFF DRUGS

ESU student Michael Mancini is spending time behind bars following accusations that he used the dark web to purchase LSD with bitcoin and later sell his drug stash to friends and roommates.

Bitcoin’s reputation has long been tainted by its use in illicit activities. Despite the fall of the original Silk Road and its successors, the sale of drugs and firearms via the deep web hasn’t shown many signs of slowing down.

Things ultimately took a downward turn for Mancini when an informant told ESU police of the drug deals that were allegedly taking place on school grounds. It is believed that Mancini purchased the LSD at $9 a hit, and kept some for himself before dealing the rest to assorted colleagues. One too many orders led to suspicion among authorities, who upon inspecting the contents of the student’s latest delivery, proceeded to arrest Mancini for purported drug trafficking.

SILK ROAD 3.0

In what appears to be an effort to go “clean and sober,” Silk Road 3.0 has returned after a period of non-use and announced a charity drive set for June 8th, 2016. Approximately $5 from every sale will be donated to the Last Door Recovery Society, a drug and alcohol treatment center based in Vancouver. While the site will not necessarily be used for legal services, the owners are attempting to set people in the right direction and encourage “responsible use” among those who engage in “mind-altering substances.”

Additionally, those behind the charity’s operation have stated that they will be donating from their own pockets in an attempt to increase funds and promote bitcoin usage. All the while, the owners aim to silence suspicious parties by stating they are worried less about making money and more about ensuring user privacy.

Know of any good stories that should be included in our next industry report? Tell us about them below!


Images courtesy of YouTube, beforeitsnews.com, drupal.org.

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Industry Report: Bitcoin Is Still on Drugs, No Detox in Sight

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BitHope Foundation Partners With Counterparty For HOPECOIN Token

Source: bitcoin

Bitcoinist_Counterparty

The BitHope Foundation has partnered with Counterparty, which means the charitable organisation has created their token. HOPECOIN, as this token is called, will be sent to anyone who makes a donation through the IndieSquare button.

Also read: Bitland Puts Land Titles on the Blockchain in Ghana

Introducing The HOPECOIN Token Through Counterparty

Most cryptocurrency enthusiasts will have heard of the Counterparty platform before, as it stores extra data in standard Bitcoin transactions. As a result, every Counterparty transactions is a Bitcoin transaction in a smaller size. Transactions on this network are verified by Bitcoin miners and are recorded on the Bitcoin blockchain.

This concept has caught the attention of the BitHope Foundation, as they partnered with the Counterparty team to create their token on the platform. HOPECOIN, as this initiative is called, is a new token which will be issued to anyone who makes a financial contribution to this charitable organisation.

However, there is one requirement, as users have to use the BitHope IndieSquare payment button to receive the tokens. Given the multi-purpose wallet nature of IndieSquare and the fact they are the world’s first Counterparty wallet built for mobile devices, this partnership can bring a lot of positive attention to all parties involved in this partnership.

To put this token into perspective, every Bitcoin donation worth US$1 will reward the contributor with 50 HOPECOINS. While these new tokens have no intrinsic value as of yet, they can be exchanged for goods and services in the future. BitHope Foundation hopes other projects will utilise the Counterparty platform in the future, and offer their goods and services in exchange for these tokens.

For users who have never used the IndieSquare wallet before, it is important to note the user is in full control of their wallet at any given time. During the signup process, there is a 12-word seed that needs to be written down by the user, as they are the only ones who have access to the funds. No other party will ever access one’s funds.

Will you donate to BitHope Foundation to experiment with HOPECOINS on Counterparty? Let us know in the comments below!

Source; Bithope

Images courtesy of BitHope, Counterparty

The post BitHope Foundation Partners With Counterparty For HOPECOIN Token appeared first on Bitcoinist.net.

BitHope Foundation Partners With Counterparty For HOPECOIN Token

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