The Giving Block Launches ‘Crypto Giving Pledge’ to Step Up Crypto Donation Efforts

The Giving Block, a leading cryptocurrency donation platform, has launched a new initiative with the goal of making crypto the most charitable industry in the world.

The “Crypto Giving Pledge” encourages investors in digital assets to pledge at least 1% of their holdings each year to charities and for cryptocurrency companies to contribute 1% of their revenues to similar causes. Users can participate in the initiative anonymously and are not required to make their contributions public.

If everyone in cryptocurrency donated 1% of their assets to charity, they could collectively raise $ 20 billion based on the current market capitalization of digital assets.

Alex Wilson, co-founder of The Giving Block, said the new initiative will “change the way the world looks at cryptocurrency and create the largest influx of charities the world has ever seen.”

Pat Duffy, the organization’s other co-founder, said the initiative will do three things that “everyone wants to see happen in crypto,” namely:

“First, it will bring in a lot of money for great causes that urgently need this support. Two, particularly for US pledgers, the donations made through this pledge will wipe out millions of dollars in crypto tax burden from donors. And third, it will bring up the idea that crypto is bad, which we think is the main barrier slowing down mainstream crypto adoption. “

“Crypto Giving Pledge” is launched in conjunction with Founder’s Circle, an industry group that will promote the initiative. As a media partner, Cointelegraph will announce the members of the Founder’s Circle through May 31, 2021 and provide other updates on the initiative as they unfold.

The Giving Block has already sent open invitations to prominent industry voices such as Michael Saylor, Elon Musk, Brain Armstrong, Joseph Lubin, Barry Silbert and others, although their participation has not been confirmed.

The Giving Block has made significant strides in promoting cryptocurrency-based donations. In January, the organization joined forces with the American Cancer Society to create a new Cancer Crypto Fund with the stated goal of raising at least $ 1 million.

The Giving Block also partnered with Cointelegraph to host the first trivia competition ‘Crypto’s Biggest Brain’ in December 2020.