Ethereum’s Founder Donates $1M To Russian Charity
It seems as if the crypto world is doing well in general but they are making sure that they do not neglect the poor. In latest news, it has been revealed that Ethereum’s founder has donated $1M to a Russian charity, in a move to help the destitute and poor.
Previously, the crypto currency industry was under a lot scrutiny that it has only been piling up wealth in digital form and the fact that it is only available in a digital way. However, the latest initiative taken up by the crypto currency community will ensure that some of the non-believers can get their facts right and start supporting the community instead.
The charity has been made to GiveDirectly, a Russian charity. The charity is responsible for providing full fledged and no strings attached grants to the extreme poor. The company has not just received the money from Ethereum’s founder but also from OmiseGo, a fintech startup.
All the money of the charity will be given to the GiveDirectly campaign being held in Uganda. It will aim to provide to and cater to the needs of 12,000 refugee households and make sure that they get their grants so they can change the lives of the poor by allowing them access to opportunities and providing them opportunities for business development and growth.
One of the initial pilot projects of GiveDirectly was able to reach 4,400 households and each of the recipients was given $650 so they can choose to make a wish as they desire. Moreover, GiveDirectly is trying to ensure that it tries to scale its operations significantly in the next years through donations and other sources.
GiveDirectly is a major name in the charity world and it has been getting donations from major tech names such as Google, eBay and others. The company started its operations back in 2013 when it went public and since then it has been able to raise more than $200 million. GiveDirectly is now trying to work and associate with the crypto currency industry to make sure it expands its operations and reach and caters towards a bigger audience.