Bitcoin platform completes first charity trial
28 Feb 2017by CharityDigital Editorial
Bitcoin charity platform Helperbit has successfully completed a crowdfunding campaign to help those affected by the recent earthquake in central Italy.
Helperbit is an Italian startup that uses Blockchain technology to allow people to donate digital and local currencies to charities and people in need all over the world, while tracking the donations and the manner in which they are used.
Two months ago, Helperbit started a collaboration with Legambiente (League for the Environment) to support the reconstruction after the earthquake. In addition to traditional cash fundraising, the Bitcoin platform
provided the infrastructure to create a multi-signature bitcoin wallet, with the aim of offering an international tool and more transparency than traditional fundraising methods.
The bitcoin-based campaign was Legambiente’s first foray into Bitcoin donations and, thanks to Helperbit
, 59% of the campaigns goal, over eight Bitcoins, have already been raised. Five of those bitcoins were donated by insurance giant Swiss Re.
Help where it’s needed
Among the many affected locals, the earthquake in central Italy has taken away everything Ilaria and Lorenzo have. The owners of Società Agricola Etiche Terre S.S., moved to the region less than a year ago to start the production of saffron, garlic and black truffle.
Thanks to the charity campaign The Rebirth has a young heart
they can benefit from the donations raised, restarting the interrupted dream to build there one of the most important plants of saffron in Italy.
The farmers recently uploaded the first invoice on the Helperbit platform, activating a refund request from Legambiente. Much of the process is visible
in the public Bitcoin Blockchain, including the proof of expenditure with a cryptographic reference to the invoice.
“Donors should be able to decide how their donation is used,” states Helperbit. “Our aim is to offer tools that allow the system to work with a complete audit of economic flows.”