The Rainforest Foundation will accept cryptocurrencies to protect the Amazon.
A long-standing nonprofit organization is embracing the cryptocurrency community to fight forest fires in the Amazon. The Rainforest Foundation, founded in 1987, announced a campaign to combat Brazilian forest fires with the help of the cryptocurrency community. Although the foundation accepted cryptocurrencies for years, and even developed its own, BitSeed, in 2014, forest fires in Brazil have given the foundation a new impetus to embrace the cryptocurrency community.
During last July, deforestation increased by 278% over the previous year, and the number of forest fires doubled between January and August from 2018 to 2019, according to the Rainforest Foundation. The organization is looking for up to USD 100 million to fight fires, but did not set a specific funding objective for the cryptocurrency resource.
Suzanne Pelletier, executive director of the foundation said that the philanthropy of the old school is not up to par, so they require new methods of donation and community activity. The ability of the community around cryptocurrencies to think differently stimulated the new campaign.
“The cryptocurrency community is full of people who think differently and try to change the rules of the game. It is very slow and bureaucratic to obtain the support of the foundations. It will be too late. We do not have enough time.”
As of now, the foundation accepts donations in bitcoin, ether, litecoin and bitcoin cash. He is also working with the Giving Block bitcoin donation firm on the project. The Rainforest Foundation is looking for cryptocurrency communities to sponsor projects and raise awareness, in addition to donating cryptocurrencies.
Working with the cryptocurrency community is not just about funds, but about technology, Pelletier said. The smart contract system, which is currently being developed with Regen Network, is a method that the foundation intends to use to monitor the work of its teams in the jungle. Pelletier said peer-to-peer payments are another innovation that the foundation is looking to overcome traditional banking obstacles.
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