In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This interesting piece written by JEFF JOHN ROBERTS published on Fortune shares interesting details about Coinbase CEO Brian Armstrong’s latest brainchild, GiveCrypto.
“The best way to help people out of poverty is to give them money—including cryptocurrency. That’s the thinking behind GiveCrypto, a new global endeavor to distribute bitcoin and other digital currency directly to people in need.
Donors will give the crypto funds to needy recipients, who can then decide to keep the funds in cryptocurrency or exchange them for traditional money. The charity aspires to raise $10 million by the end of this year, and grow to a fund of $1 billion in the next two years.
GiveCrypto is the brainchild of Brian Armstrong, the CEO of digital currency service Coinbase, who is launching the project with a personal $1 million donation, and is encouraging anyone who’s amassed crypto wealth—including Bitcoin, Ethereum, XRP, and ZCash—to kick in too.”