Many people might say that Bitcoin is a technology that could hold a lot of promise in the future rather than today as a means of exchange. But that future is already starting to come into focus as more and more businesses are accepting Bitcoin payments, Bitcoin ATMs are springing up all over the globe, and an increasing number of activities, political campaigns, and charity movements are being funded with Bitcoin.

Now, Arizona's No. 1 local news site published a video report on the Barrow Neurological Foundation receiving its first ever and very important Bitcoin donation. reports:

“The Barrow Neurological Foundation received $10,000 in Bitcoins from an anonymous donor to further memory research.”

This donation will help fund the memory-related research of Dr. Peter Steinmetz, director of the neuro-engineering program. His studies are focused on understanding how the brains of epilepsy patients function and how memory is affected. Dr. Steinmetz commented:

“This is a novel way for research to be funded. It’s almost appropriate actually, that a cutting-edge method of funding is used to fund cutting-edge research.”

The Barrow Neurological Foundation is a non-profit support foundation that was established in 1961 with the specific purpose of raising funds for the Barrow Neurological Institute at St. Joseph's Hospital and Medical Center in Phoenix, Arizona.

Each Bitcoin donation is important as the money could help people get a better understand of epilepsy and the human brain in general, which could lead to treatment and a possible cure in future. In addition, many more foundations could follow suite as the new method to receive donations is likely to increase exposure in the media, reduce transactions costs, and attract additional donors for many organizations looking to secure funds for scientific research as well as other endeavors.

Watch a full video report here.