Research to focus on the effect of cryptocurrencies on the global charitable sector
BitGive, the first Bitcoin 501(c)(3) nonprofit, has announced a research collaboration with the University of Edinburgh to investigate the effect of cryptocurrencies on the global charitable sector. The goal of the collaboration is to use the research to formulate a better, more cohesive approach to leveraging cryptocurrency for charitable giving. The research will examine the opportunities and challenges of using and converting cryptocurrency within developing economies. BitGive has explored this topic in depth through the 2017 launch of GiveTrack, a blockchain-based donation platform that offers individuals the ability to trace the path of their charitable donations in real time. BitGive unveiled the research collaboration to university researchers and conference attendees at OxChain’s Blockchain and the Global South Conference in London.
Connie Gallippi, Founder of BitGive, said: “It’s been incredibly rewarding to see our GiveTrack platform gain unabating momentum since its launch in October 2017. Throughout this process, we’ve discovered numerous opportunities, as well as challenges and barriers, that have helped to shape the development of our platform and helped to define crypto-philanthropy. Using this knowledge, in tandem with the bright minds at the University of Edinburgh, BitGive will be delving into how to overcome the roadblocks to effective crypto-philanthropy and establish how cryptocurrency can best be used to uplift and revolutionise the charitable sector. This research collaboration will help organisations looking to engage in crypto-philanthropy and provide them with the guidelines they need to be successful.”
The research collaboration will examine GiveTrack’s past implementations in Indonesia, India, and Kenya to investigate the feasibility, utility, and acceptance of cryptocurrency in these regions. The team will explore how barriers such as regulation, user and merchant adoption, and the influences of local culture and government affect the use of cryptocurrency on the ground.
Dr. Claudia Pagliari, Research Partner at the University of Edinburgh, said: “As one of the first organisations to leverage the power of blockchain and cryptocurrency for charitable giving, BitGive is a true pioneer in the crypto-philanthropy sector. Through their experience of planning and delivering projects using the GiveTrack platform, Connie and her team have gained important insights into how cryptocurrency can be effectively used to support humanitarian efforts in developing countries, as well as some of the challenges involved. Through the research collaboration with BitGive, and meeting key stakeholders, we aim to learn as much as we can about the technical and contextual factors that can influence the success of these approaches, so that this knowledge can be used to inform future programmes worldwide.”
The GiveTrack platform leverages blockchain technology to provide an unprecedented level of clarity in the donation to deployment phases of allocated funds. Individuals are able to trace the path of their charitable donations on a public platform in real time, letting them see exactly how funds are spent and when they reach their final destination. Charity project results are also shared with the donor to create direct engagement.
In a related announcement, GiveTrack will also be supporting several new pilot projects, including one with education-focused nonprofit Open Mind Africa, which is now available on the platform.
For more information on GiveTrack, visit https://www.givetrack.org/.