Using Bitcoin to Fuel Philanthropy – Bitcoin Magazine
This is an opinion piece by Renata Rodrigues, Global Community and Education Manager at Paxful.
Social Change Powered by Bitcoin: Part Two
Bitcoin has real potential as a vehicle for social change.
For philanthropies, bitcoin adds a layer of accountability that fiduciary donations are unable to duplicate. For nonprofits, it makes it easier to track donations and gives people unprecedented visibility into how their donations are being used. Using bitcoin for philanthropic purposes brings other benefits. Sending money with Bitcoin involves minimal costs and is much more efficient than most traditional services.
In this two-part series on bitcoin and social good, I’ll highlight how nonprofits are using bitcoin to impact communities around the world. First, we covered Raúl Yazdani and Agua x Vida.
Next, we’ll take a look at Yusuf Nessary and the Built With Bitcoin Foundation. To date, the nonprofit organization has built and repaired ten schools, seven solar projects, and more than a dozen water and agricultural systems around the world. Beyond the projects themselves, Nessary also hopes Bitcoin can bring hope to these communities.
bitcoinforthe100 is a collection of stories and use cases that prove that Bitcoin really is 100%. Below is a voice embracing Bitcoin for social good.
Bitcoin to Bring Life: Yusuf Nessary, Houston, Texas
Yusuf has always felt his calling is to help others and in July 2014 he launched Zam Zam to bring clean, sustainable water to those who need it most. This led him to meet Ray Youssef, who asked to make a large bitcoin donation. “What is bitcoin? I have no idea what it is,” he laughed, remembering how he first responded to the idea.
Together, Nessary and Youssef launched the Built With Bitcoin Foundation, a non-profit organization that would build everything from schools, water wells and sustainable gardens in emerging communities, all powered by Bitcoin. Later that year, they completed construction of their very first school in Nyamata, Rwanda. It was a feeling he would never forget. “Here is a school we had built using just Bitcoin,” he remarked. In just a few months, Nessary’s thoughts on the global economy had completely changed. He saw the power of what bitcoin was capable of.
Since 2017, the Built With Bitcoin Foundation has completed a number of additional projects and continues to grow in communities that need it most. To this day, Nessary returns to each site. He has seen lives changed and people thrive through the opportunities offered to them through bitcoin. “It’s amazing to see,” he said. “I want to legitimize this type of philanthropy because the power of bitcoin can be used for good. And that’s exactly what we do.
You can learn more about its history here.
This is a guest post by Renata Rodrigues. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.