Using Bitcoin To Power Philanthropy

Bitcoin unlocks incredible benefits for organizations which seek to create positive social change in the world.

This is an opinion editorial by Renata Rodrigues, global community and education lead at Paxful.

Bitcoin has true potential as a vehicle for social change.

For philanthropies, bitcoin adds in a layer of accountability that fiat donations are unable to replicate. For nonprofits, this makes tracking donations easier and gives people unprecedented visibility on how their donations are used. Using bitcoin for philanthropy brings in other benefits. Sending money using Bitcoin involves minimal costs and is much more efficient than the majority of traditional services.

In this two-part series on bitcoin and social good, I will highlight how nonprofits are using bitcoin to impact communities around the world. First, we covered Raúl Yazdani and Agua x Vida.

Next up, we will take a look at Yusuf Nessary and the Built With Bitcoin Foundation. To date, the nonprofit has built and repaired ten schools, seven solar projects and over a dozen water and farming systems across the globe. Beyond the projects themselves, Nessary also hopes that Bitcoin can restore hope within these communities.

Bitcoinforthe100 is a collection of stories and use cases that prove that Bitcoin is truly for the 100%. Below is one voice that is embracing Bitcoin for social good.

Yusuf always felt that his calling was to help others and in July 2014, he started Zam Zam to bring clean, sustainable water to those who needed it the most. This led him to meeting Ray Youssef, who asked to make a sizable donation in bitcoin. “What is bitcoin? I have no idea what that is,” he laughed remembering how he had first responded to the idea.

Together, Nessary and Youssef launched the Built With Bitcoin Foundation, a nonprofit organization that would build everything from schools, water wells and sustainable gardens in emerging communities — all powered by Bitcoin. Later that year, they completed construction of their very first school in Nyamata, Rwanda. It was a feeling he would never forget. “Here was a school we had built using only Bitcoin,” he remarked. In just a few months, Nessary’s thoughts on the global economy had completely shifted. He saw the power of what bitcoin was able to do.

Since 2017, the Built With Bitcoin Foundation has completed a number of additional projects and is continuing to build within the communities that need it most. To this day, Nessary travels back to each site. He’s been able to see lives changed and people thriving because of opportunities given to them through bitcoin. “It’s amazing to see,” he said. “I want to legitimize this type of philanthropy because the power of bitcoin can be used for good. And that’s exactly what we’re doing.”

You can learn more about his story here.

This is a guest post by Renata Rodrigues. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.