Altcoins and charity foundations are partnering up.
Do a Bit of Good, an online charity crowdfunding system,announced on Tuesday that it is working with the Givecoin Foundation in a driveto raise money for charity.
Do a Bit of Good,which claims to be the “world’s first charitable giving hub” based on bitcoin,generates money using personalized screensavers. The screensaver program minesbitcoins while the computer stays idle, and the program donates its earnings tothe charitable foundation of the client’s choice.
Thanks to its new partnership, Do a Bit of Good will bedistributing currency from the GivecoinFoundation, which has donated 200,000 Givecoins (called GIVE) to theproject.
“We have agreed to literally give it all away and will beproviding all new users who establish a Givecoin account address in our system100 givecoins to donate within our system as they see fit,” a press release byDo a Bit of Good on the initiative published Tuesday said.
Do a Bit of Good provides the mining client, while Givecoinprovides the currency.
The company was attracted to partner with Givecoin becauseof the currency’s altruistic background, Do a Bit of Good’s executive directorDavid Duccini said.
“When I first learned of Givecoin I immediately recognizedits value and utility as the Bitcoin of charitable giving,” the statementquoted Duccini as saying. “Unlike most of the so-called ‘altcoins,’ Givecoinwas designed first and foremost for the benefit of others! Karmically that justfeels good.”
Givecoin is a type of cryptocurrency dedicated specificallyto charitable giving, but it relies on external mining clients to generate newcoins. According to Duccini, the partnership between the two companies couldlead to a greatly simplified system of donation. By running the Do a Bit ofGood screensaver, users can earn bitcoins (or deposit BTC or otheraltcurrencies into their wallet) and convert them to Givecoin in a single clickto donate to the charity of their choice.
The operation may seem small compared to Bitcoin, Duccini said,“but considering that many non-profits to this day survive on collecting coinsin jars it definitely has the potential to do more than a bit of good.”