Cryptocurrency And Cross Border Philanthropy

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Hello Fam,

INTRODUCTION

Cryptocurrency today has proven useful in facilitating alot of things infact it seems when it comes to finance there is no limitations to what cryptocurrency could be used for instead of limitations it even raises the bar so much that we see why it's preferred than the traditional services, so yes cryptocurrency has proven quiet useful in lots of things.

Among the many things cryptocurrency is useful for is actually in cross-border philanthropy. Yes, cryptocurrency has proven quiet useful in this aspect as well as with it cross border philanthropy has been really impacted positively and improved on a great deal, which is not surprise as we live in times where everything cryptocurrency and blockchain touches regarding finance it almost changes for the better.

Ofcourse we know what philanthropy involves, and for those who doesn't, it entails giving actually, trying to support others by offering donations to help them in their work or other good ventures they are in, and today this could even be done despite the border barrier as willing givers could still transcend the barrier of boundary and render assistance to those in need and that's why cryptocurrency especially comes in and have really help to facilitate cross border philanthropy.

WAYS CRYPTOCURRENCY CAN FACILITATE CROSS-BORDER PHILANTHROPY

• REDUCED TRANSACTION COSTS

Today one way this has been facilitated by cryptocurrency, that is cross border philanthropy is due to the reduced cost of doing transactions with cryptocurrency. Normally willing givers may feel discouraged to give if doing so attracts great charges especially since it has to do with cross border and we know that banks charges vary greatly from local transactions to international one with the later carrying great charges which may become a hindrance to those philanthropist.

These often make them restrict their goodness within their jurisdiction, but with cryptocurrency eliminating the need of banks in facilitating transactions it means no fee as there is no third party so cryptocurrency comes in offers very much reduced or next to nothing transaction charges in comparison with the bank own and this makes direct transfers possible making it easier for cross border philanthropy to be facilitated and this philanthropist becomes more willing due to the lesser fees cryptocurrency offers.

So reduced transaction fee is one way cryptocurrency facilitate cross border philanthropy.

• SPEED OF TRANSACTIONS

Also everyone appreciate it when things are done as quickly as possible, that's normally how we want things to be done but most times have to settle with what we are afforded by the traditional financial institution which sometimes are often slow in carrying out transactions, even locally self there are times when the bank takes time to deliver a transaction most times even days depending on the network issues which will later be rectified and is also in this vein that cross border transactions are sometimes also delayed much to the annoyance of the parties involved.

How does cryptocurrency help things here? Well it does this by ensuring fast transaction, we have several chains today like xrp and the trx blockchain for instance which process thousands of transactions in mere second, yes that's right in a second thousands of transactions are processed unlike the banks where sometimes transactions take days to deliver so by offering efficiency in transactions cryptocurrency helps facilitate cross border philanthropy.

It has comes in handy in ensuring the act of cross border philanthropy could continue without any challenge or issues, the fact cryptocurrency offers lighting speed transaction ensure that cross border philanthropy is up and running to the satisfaction of everyone.

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• TRANSPARENCY AND ACCOUNTABILITY

Sometimes some good things done by philanthropist are not delivered to the right hands and are often absconded by those in charge that's what we see in centralized systems, total lack of transparency and they are not called to account for this, but that's not the case with cryptocurrency. How is it different?

Cryptocurrency with the help of blockchain ensures full transparency in every transaction done on the blockchain the records are immutable, can't be changed by any human no matter how nefarious the individual is which means when someone gives the receiver who is meant for rightly receives it because the evidence is there it is clear who is sending and who is receiving there is no altering in blockchain.

The transparency nature of blockchain is another thing that ensures the facilitation of cross border philanthropy.

• ANONYMITY AND PRIVACY

Also someone may want to give but doesn't want it to become public, they just love to do good acts but doesn't want the publicity and often they are exposed to this publicity when they follow the standard centralized financial system which often discourage most donors who would rather stay private from giving in the first place.

But ofcourse even in this aspect cryptocurrency rightly have a solution for this, we have private network where willing givers and donors could contribute immensely to a cause and yet their identity remains completely anonymous without anyone finding out who the donor is and that's exactly how they want it, so cryptocurrency ensures that even private individuals are able to participate in cross border philanthropy by so doing it helps a great deal in facilitating cross border philanthropy.

So this is just another way cryptocurrency does this.

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CONCLUSION

Ofcourse these are just some ways cryptocurrency ensures cross border philanthropy which all helps for this to continue and ensure those with good heart carry out their goodwill in a global stage without stress and those in need are able to receive the help they want which is a very fine thing, so this effort is all too a fine one and in this way cryptocurrency has shown itself to be a force for good and capable of really reshaping the global financial order.