Los Angeles, CA -- (ReleaseWire) -- 09/12/2019 -- Charitable non-government organizations will soon have a new way to create their own reservoir of funding.
Also, donors to the NGOs have an easier way to support their favorite causes.
CryptoNGO taps into the potential of cryptocurrency to give charities the ability to self fund. Additionally, donors can create alternative means for giving to their favorite organizations.
It will even provide individuals with the ability to set up and fund their own charitable organizations using cryptocurrency.
Since its beginnings, many have seen cryptocurrency as a fad. The success of Bitcoin, however, has pushed cryptocurrency into the mainstream. Investors and others now see it as more of a viable means of exchange.
According to CryptoNGO, "cryptocurrencies have moved beyond just existing as mediums of exchange to become financial investment instruments." They go on to explain that "this idea has given rise to a concept where you can associate any given cryptocurrencies with NGOs to raise potentially millions of dollars to fund the activities of the organization."
CryptoNGO sees cryptocurrency as a potential monetary tool that anyone can use and that NGOs must have. They have set up a campaign to crowdfund their endeavor.
The organization offers users the means by which to create their own cryptocurrency solely for the support of charitable organizations. They rely on donations, however, for their own support. Users can even set up their own charitable organizations using the CryptoNGO platform.
CryptoNGO plans to subsist solely on donations and will charge neither fees or take any percentage of the currencies created and distributed. They also will not judge or rank the organizations that choose to use the CryptoNGO platform.
Those looking to give to support CryptoNGO can donate in either conventional or cryptocurrency.
With charitable organizations and functions accounting for nearly a trillion dollars per year, helping CryptoNGO's efforts to make operating a charity easier will add a boost to the US economy. Already, charity creates 5.5 percent of the national gross domestic product.
CryptoNGO plans to open their platform up to donors from around the globe.
Experts say that expanding the technological ability of donors to give should result in a major expansion of money given and used for good causes. As the market for CryptoNGO currencies increases, opportunities for trade will emerge as well.
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