MIAMI-(BUSINESS WIRE)-July 19, 2023-
The Giving Block, the cryptocurrency and securities fundraising platform behind “Crypto Philanthropy,” has unveiled “EcoGift,” a process designed to make environmentally friendly cryptocurrency donations. Designed in collaboration with Climate Vault, a 501(c)(3) nonprofit organization and carbon abatement leader, EcoGift is designed to measure and offset the carbon footprint of cryptocurrency donations processed on The Giving Block platform.
“When it comes to crypto fundraising, non-profit organizations look to us as a leader in the space,” said Pat Duffy, co-founder of The Giving Block. “All the environmental nonprofits we support should be able to look our donors in the eye and tell them that the cryptocurrency they are receiving is not harming our planet. That’s why we created EcoGift, and why we’ll continue to do what it takes to deliver the greenest crypto fundraising platform.”
EcoGift calculates the carbon footprint of each transaction for individual crypto transactions on The Giving Block, resulting in carbon offset donations twice the size of the standard offset. These funds buy twice as many carbon permits from cap-trade compliance markets, which are secured so that emissions cannot use them. The vault permits are then used to remove twice as much carbon from the atmosphere as the original crypto donation contributed, turning crypto donations on The Giving Block into an environmental force for good.
Cryptocurrency continues to be one of the fastest growing ways to donate to the nonprofit sector, with thousands of charitable organizations raising more than $125 million via cryptocurrency and NFT through The Giving Block since its founding in 2018. Although many cryptocurrencies have migrated to protocols, Energy Efficient However, concerns about cryptocurrency’s energy consumption prevent some environmental charities from exploring Web3 fundraising.
With EcoGift, The Giving Block intends to bring more environmentally conscious nonprofits into Crypto Philanthropy and give donors peace of mind when donating cryptocurrency.
Additional details about The Giving Block’s EcoGift can be found at https://thegivingblock.com/ecogift/. Contact media@thegivingblock.com for inquiries.
About Bid Block
The Giving Block, a Shift4 company, is the leading cashless fundraising platform connecting nonprofits with contemporary philanthropists. As pioneers of the “Crypto Philanthropy” movement, The Giving Block makes it easier for nonprofits to raise funds for cryptocurrency as well as other non-cash assets such as stocks and donations from donor-advised funds. Today, thousands of nonprofits around the world are using The Giving Block’s platform and expertise to engage young donors, increase revenue for their donations and prove their fundraising strategy to the next generation of future philanthropists.
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media@thegivingblock.com
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INDUSTRY KEYWORD: PROFESSIONAL SERVICES PHILANTHROPY BLOCKCHAIN TECHNOLOGY BLOCKCHAIN TECHNOLOGY ASSET MANAGEMENT ENVIRONMENT FUNDING FUNDATION CRYPTOCURRENCY NFT WEB3 CLIMATE CHANGE
Source: giving
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Posted: 07/19/2023 10:00 AM / Disc: 07/19/2023 09:58 AM
http://www.businesswire.com/news/home/20230719857989/en
Copyright 2023 Business Wire.
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