WeTrust, a decentralized platform for financial products co-founded by George Li, a former employee at Google, is seeking to use its platform to connect non-profit organizations with cryptocurrency.
Through its newly launched fundraising platform, WeTrust Spring, it is making ‘social entrepreneurs and nonprofits to raise funds via cryptocurrency.’
WeTrust believes that cryptocurrency investors are also seeking ways to impact social change through donations. But, they have limited options to do so.
According to George Li:
“One of the untold stories about crypto community is that we are an ethos driven group, passionate about a wide range of issues and causes, and we want to be part of positive change. WeTrust Spring provides that crucial connection between crypto holders and non-profit organizations that, until now, had been missing.”
Participating Non-Profit Organizations
The new initiative already has 14 non-profit organizations enrolled. They include:
Code for America, an organization that taps the power of technology and talent to coerce those in authority to recognize the digital age.
Fight for the Future which gives people the energy to reach for better policies by harnessing the power of the internet. Bridge Global Foundation which caters for students from low developed parts in the world, and African Advocacy Network which provides legal protection to Afro-Caribbean and African immigrants while looking beyond culture.
Other non-profit organizations partnering with WeTrust Spring are Cavalier Rescue, Cultural Heritage Imaging, Ubuntu Foundation, Lava Mae, VietSeeds Foundation, Learning Equity, Rainforest Trust, Surgeons of Hope, Equity in Access, and Open Library.
The fundraising platform is built on the Ethereum blockchain, and it’s initially accepting donations in Ethereum’s native coin, ETH. However, there are plans to accommodate other virtual currencies soon.
The donations will then be traced, by WeTrust Spring, to their recipients at a 100 percent accuracy rate.
Some of those who have pledged advisory support for WeTrust include Emin Gün, a professor at Cornell University; Vitalik Buterin, Ethereum’s co-founder, Benedict Cha, chief technology officer at BitGo, and Michael Casey, a senior advisor at the Digital Currency Initiative, MIT.
The donating period started on November 1st and will close on November 27th, 2018. The platform is promising a ‘thank you’ ERC721 token to those who donate 0.1 ETH.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.