Popular Rwanda-based NGO “Save The Children” has joined the train of NGOs endorsing cryptocurrencies in the country, The Children center announced the establishment of a partnership agreement with the Cardano (ADA) Foundation.
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In a statement disclosed by members of the project, this partnership came to be possible after “Cardano installed a payment gateway that allows ADA donations to come directly to the project without intermediaries. Once the funds are received, the funds will be “invested in African-based social enterprises with a proven impact on children, families, or youth.”
Previously, a total of 22,000 ADA, worth nearly US$30,000, had been donated through the process within a few hours of its launch, according to the statement.
Save the Children’s country director Maggie Korde explains how cryptocurrencies and blockchain technology can help school children in Rwanda. She explains ” Through Cardano, Save the Children in Rwanda now has a starter pot of the cryptocurrency ADA which we can deploy to projects for children. But there are also countless possibilities through blockchain to firstly directly impact children’s lives through initiatives such as digital school records and secondly to increase our efficiency and transparency as an organization”
Save the Children was established more than 100 years ago, it has been able to reach approximately one billion children. Save the Children NGO also declares to have been the “first global NGO” to promote cryptocurrencies. This occurred when it accepted bitcoin donations from well-wishers In 2013 and the donations were utilized for the response to Typhoon Haiyan that struck Southeast Asia in 2013.
Apart from Save the Children, there are other NGOs that have collected donations in digital currency including Give Well, which started accepting crypto contributions in December 2017. A similar NGO, India’s Crypto Covid Relief Fund, reportedly has recently received Shiba inu tokens worth millions of dollars from Vitalik Buterin creator of Ethereum.
In embracing cryptocurrencies, Save the Children Rwanda is furthermore active in bringing together creative and impact-driven investment across Africa via the recently launched Kumwe Hub.
This initiative proposes projects such as academic records for children crossing borders, digital IDs for refugees, and lending mechanisms for the financially excluded, which are all in the pipeline to pilot through the project.”
Global platforms like UNICEF are accepting crypto donations because these provide a remarkable level of clarity in the funding and NGO space.