The Podari.Life charitable foundation has started accepting donations in digital currencies. It set up a bitcoin wallet with Coinbase and is now ready to receive not only bitcoin but also Ethereum and Litecoin.
"Podari Zhizn" is Russia's largest charity that was founded in November 2006 by two famous Russian actresses, Chulpan Khamatova and Dina Korzun. In the course of the past 11 years, the foundation has helped more than 40,000 patients with oncologic, hematologic, and other severe diseases. In 2011, the organization founded a U.K.-based charity "Gift of Life," and in 2015 it established Podari.Life Inc., a U.S. public charity.
Using Coinbase bitcoin wallet is legitimate under the American law, i.e., operations with digital currencies are officially allowed in the country. Coinbase enables its users to convert bitcoin and other cryptocurrencies to USD. Therefore, one can provide support to all three sister charities.
Podari.Life will use the funds to provide educational programs aimed at training Russian doctors and bring the most recent advances in cancer treatment to Russian clinics. By donating crypto to the U.K. charity, one would participate in purchasing expensive foreign-made medicines that are not available in Russia and seeking suitable bone marrow transplants when a donor can’t be found among the patient’s relatives. The money is also used to organize visits of foreign specialists who perform surgeries at The Federal Center for Pediatric Onco-Hematology.
"We're the first Russian charity to help the patients using the "cloud" currency donations transferred to our partner fund’s bitcoin wallet in the US. We've introduced such way to donate because we’re attached to the idea of blockchain. For all three partner funds, it is crucial to be transparent and lower the transaction fees," executive director Grigoriy Mazmanyants said.
The idea of accepting donations in digital currencies is not new to nonprofit charities. Benefactors prefer such option primarily because of two reasons. The first is, it's way easier to send funds in crypto. Secondly, people have a unique opportunity to track their giving and how precisely the organization would use it. International organizations such as Greenpeace, Save the Children, United Way, and the Red Cross have already embraced the crypto wallets.