Interesting thought that bitcoin can help charities run free, or certainly cost effective, global campaigns.
As Frank Schuil, CEO, Safello says "It’s an incredible thing to watch real-time incoming donations from people all around the world"
Today, a Swedish company, Safello, announced it’s enabling worldwide charitable giving through Bitcoin donations with three global charities. Safello creates safe ways to buy, sell and use Bitcoins in the emerging cyrpto currency market. Through Safello’s Bitcoin donation pages, they created a new way of donating money by letting charities run free Bitcoin fundraising campaigns where 100% of the funds go to the project. With Bitcoin, donations show up in real-time in the transaction stream where the funding goal is automatically updated. This enables local charities to create a global campaign in minutes. According to Frank Schuil, CEO, Safello, Bitcoin forces transparency because it contains a public ledger where all the donations can be followed and after the funds have been raised, the money can be traced as long as it stays in Bitcoin. “Another great possibility through Bitcoin donations is it more easily allows for truly global campaigns because there are no geographical restrictions and the low cost of Bitcoins enable the possibility of micro funding goals,” added Schuil. “In the long term I foresee new charities emerge that solely raise and spend Bitcoins where donators can follow the money trail back to the cause.”