Venezuelan Feeds Total Group With Cryptocurrency Donation – Bitcoinist.com

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Venezuelan Feeds Entire Community With Cryptocurrency Donation - Bitcoinist.com

A Venezuelan Reddit consumer who not too long ago obtained a small donation of the cryptocurrency NANO desires to pay the generosity ahead to others in want. Extra donations are streaming in to assist buy meals and drugs for neighbors and households within the consumer’s neighborhood. 


Paying It Ahead — In The Future

Final week, a Reddit consumer named “Home windows7733” made a put up titled “Received my first zero.5 NANO – Venezuelan consumer.” The zero.5 NANO was obtained as a donation to assist the consumer pay for meals and different requirements.

NANO is $2.71 per coin on the time of writing this text. As such, half of a single NANO won’t sound like very a lot however to some folks, it may well imply securing one other month’s provide of meals and drugs for needy households. Home windows7733 instructed Reddit: 

zero.5 nano is sort of one whole month-to-month wage in my nation. It’s greater than I made final month.

Different Reddit customers noticed the put up and in addition started to chip in, and shortly after Home windows7733 introduced he had discovered a service provider that was prepared to simply accept NANO for meals. Extra donations streamed in and Home windows7733 was capable of buy 102 kilograms of meat, rice, sugar, beans, and fruit.

View put up on imgur.com

“Thanks a lot,” says Home windows7733, “I can’t categorical in phrases how I’m feeling at present. It’s superb what this Reddit neighborhood is doing for my household, my neighbors, and all these folks in want.”

A Compassionate Use Case

Conventional charity organizations have a rocky historical past with fraud and embezzlement, and most of the people wish to know precisely the place the cash will go and who it is going to assist. Blockchain know-how and cryptocurrency have inherent qualities that make them robust use circumstances as a platform for taking donations or giving to charities.

Even in additional fashionable on-line strategies of fundraising or crowdfunding like GoFundMe, the businesses take a share of the donations for themselves. Cryptocurrencies and blockchain know-how assist to resolve this downside, and permits the donator to see or generally vote for precisely what the donation is used for.

The peer-to-peer blockchain system permits donators the flexibility to bypass these third-party firms and charity organizations and, in flip, quickens the method of getting the donations into the palms of these in want.

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