As of 22nd August, WWF Italy (World Wildlife Fund) now welcomes an entirely new community of supporters that have the option to donate in 23 different cryptocurrencies using proprietary blockchain technology. In joining forces with AidCoin, WWF has become one of the largest non-governmental organizations (NGOs) to register with the AIDChain platform, and connect itself to an ecosystem of services that have been specifically developed to strengthen the third sector using transparency, traceability and trust.
What does this mean for the third sector?
This latest step by WWF is poised to affect the way the global community perceive large charities, in terms of their structural complexity and widely considered opacity to the public when it comes to managing and allocating funding raised. In adopting AIDChain, charities and NGOs can make use of cutting-edge technology that can streamline the management of funds and provide donors with a new, active role: tracking and managing exactly how their money is being spent from beginning to end. WWF aligns its values to that of AidCoin’s ultimate goal: to diminish the ongoing trust crisis throughout the third sector.
What does this mean for the crypto sector?
This method of donating serves as a real-life application of cryptocurrencies as a means of payment: WWF has committed to spending funds raised in crypto without converting to fiat. Simply put, crypto will stay crypto throughout the entire donation journey in order for donors to reap the key benefit of being able to track further funds redistribution. In joining the AIDChain platform, WWF advocates the importance of using blockchain technology when it comes to foster trust between parties that have in the past been breached by a clear absence of organizational accountability.
CEO and Co-Founder of CharityStars and AidCoin, Francesco Nazari Fusetti, says “We’re very excited about this news! It shows how the no-profit industry’s opening up to blockchain technology and WWF Italy is one of the most important international charities to be launched on our AidChain platform. We’ve been working alongside them through CharityStars for a long time now and we strongly believe it will only be the first in a long list!”
Since 2013, Francesco and the AidCoin team have made it their mission to revitalize the world of charitable giving, one token at a time, and upcoming projects with WWF Italy are to be announced shortly.
AidCoin is an ERC20 compliant utility token that will provide transparency in the nonprofit sector, allowing individuals to track their charitable donations through the AIDChain platform. AIDChain provides an ecosystem of services through an easy-to-use interface, including an internal exchange to convert major cryptocurrencies into AidCoin, a built-in wallet to store and donate easily, an explorer to track donations transparently, tools to connect donors with all the actors involved in the nonprofit sector and templates of smart contracts to run fundraising campaigns. AidCoin additionally allows charities to integrate a donation button, called AIDPay, on their website that enables the acceptance of cryptocurrencies for their fundraising campaigns. Donors can donate in any cryptocurrency or altcoin that will be converted into AidCoin at the current exchange rate. AidCoin is conceived and developed by CharityStars – a leading VC-backed fundraising platform which will be the first to utilize AIDChain and to accept AidCoin within its own ecosystem of charities, donors, celebrity donors and events.