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Altcoins and charity foundations are partnering up.
Give a Bit to Charity with Givecoin
bitcoin, charity, givecoin foundation, crowdfunding
Do a Bit of Good, an online charity crowdfunding system,
announced on Tuesday that it is working with the Givecoin Foundation in a drive
to 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 mines
bitcoins while the computer stays idle, and the program donates its earnings to
the charitable foundation of the client’s choice.
Thanks to its new partnership, Do a Bit of Good will be
distributing currency from the Givecoin
Foundation, which has donated 200,000 Givecoins (called GIVE) to the
“We have agreed to literally give it all away and will be
providing all new users who establish a Givecoin account address in our system
100 givecoins to donate within our system as they see fit,” a press release by
Do a Bit of Good on the initiative published Tuesday said.
Do a Bit of Good provides the mining client, while Givecoin
provides the currency.
The company was attracted to partner with Givecoin because
of the currency’s altruistic background, Do a Bit of Good’s executive director
David Duccini said.
“When I first learned of Givecoin I immediately recognized
its value and utility as the Bitcoin of charitable giving,” the statement
quoted Duccini as saying. “Unlike most of the so-called ‘altcoins,’ Givecoin
was designed first and foremost for the benefit of others! Karmically that just
Givecoin is a type of cryptocurrency dedicated specifically
to charitable giving, but it relies on external mining clients to generate new
coins. According to Duccini, the partnership between the two companies could
lead to a greatly simplified system of donation. By running the Do a Bit of
Good screensaver, users can earn bitcoins (or deposit BTC or other
altcurrencies into their wallet) and convert them to Givecoin in a single click
to 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 coins
in jars it definitely has the potential to do more than a bit of good.”
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