In February 2022, the crypto community was galvanized to support the Ukraine Government and various NGOs in the region with donations of cryptocurrency worth Millions of dollars. This was made possible by the decentralised, uncensorable nature of Bitcoin, Ethereum and other crypto projects.
While the world’s attention has since moved on to other disasters around the globe, the crypto community has not forgotten. Launched in 2019, Endaoment is a non-profit organization that has been at the forefront of cryptocurrency’s charitable giving. After several major earthquakes in Turkey and Syria, donations in cryptocurrency began to pour in.
According to Endaoment CEO Robbie Heeger, the crypto community is very rights and sovereignty focused, making it very easy for them to relate to the Ukraine situation. While crypto donations were not on the same scale as the Ukraine contributions, Heeger noted that many still prefer to donate to traditional relief efforts.
Cryptocurrency is still in its infancy, but projects like Ethereum, Bitcoin, and Web 3.0 are bringing about major changes in the world of finance and philanthropy. Blockchain technology has opened up a new way of giving, and initiatives such as Endaoment are paving the way for a more efficient and secure method of donating.
Unveiling the world of Bitcoin, Ethereum and Web 3.0 can be daunting, but with a little help, you can navigate the crypto landscape. Ukraine DAO was launched before Turkey Relief DAO, an organization that was set up to raise awareness about organizations supporting the victims of the earthquake in Turkey.
Huma Finance Erbil Karaman, one of the co-founders of Turkey Relief DAO, told Decrypt ETH Denver that they have teamed up with government and non-governmental bodies to install wallets across 18 different blockchain networks to raise and distribute donations.
Karaman also said that they have been very fortunate with the success of their fundraising efforts, receiving a lot of support from the Ethereum and the related communities. Companies such as Circle Ventures, Race Capital, Request Network and Superfluid have also contributed to the cause.
At ETH Denver in February, Karaman’s project received an award and the team raised a total of $8.3 million in funding. With this money, they hope to help rebuild cities and restore the lives of those affected by the earthquake.
