How do you think cryptocurrency will affect the way people give to charity?
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I will give my opinion about How Cryptocurrency Will Affect The Way People Give To Charity?
I am 100% sure that any crypto currency that stands above blockchain technology will improve everything about "trust". My point is: there will be no more fraud, corruption, etc. that occurs in charity funds.
Blockchain has various advantages that can change the way humans do charity:
1. Transparency
There is no more corruption that will occur, so the funds that are carried out will reach the people who need it, and of course with authentic evidence on the blockchain.
In addition, transaction records will be recorded properly on the blockchain, and this cannot be manipulated by anyone in this world.
2. Speed
For crypto currencies such as Litecoin, it only takes a few minutes for the money sent to the legitimate recipient. While some others require a higher confirmation time, there are a number of Altcoins that have provided Instant Payment features (in just a few seconds).
3. There are no third parties
In the absence of a third party, the funds will arrive 100% safely.
4. Audit
Maximum audit capability can be obtained well, so that even the smallest mistakes can be seen and resolved in a short time.
5. Cheap
The cost of shipping to the world, regardless of the geographical side, is very cheap. For BTC, currently only around $ 0.1 - $ 1 per transaction with any amount.
With crypto currencies, everything becomes very easy, cheap, and reliable. Even not just charity, all sectors that need a "chain" of trust can be revolutionized using blockchain and crypto currencies (as a form of value).
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