"Bitcoin for Good"
Enabling greater charitable contributions to worthy organizations and increasing the use of cryptocurrency by charities.Project overview
This project, “Bitcoin for Good”, proposes to increase the use of cryptocurrency by charitable organizations by enabling people to donate to any 501(c)(3) charity with proceeds paid in cryptocurrency. As one of the goals in the cryptocurrency ecosystem is to increase its usability and widespread adoption, this project targets one business segment to increase adoption – non-profit charitable organizations.
Several programs on the Internet allow people to donate to any charity they choose that is listed as eligible in the Internal Revenue Service’s exempt organization master file. The most well known of these is probably Amazon Smile. This project proposes to create an Amazon Smile-like experience for donations. After this project is launched, it may seek partnerships with merchants and/or cash-back websites such as to increase awareness and participation in the program and the number of donations given to charity.
Like Amazon Smile, this program will not require a charity to register in advance. Funds received will be remitted to the directed charity as cryptocurrency. It is our belief that Bitcoin would be the best cryptocurrency to use, at least initially, because of its recognition and relatively wide acceptance, but we have considered branding it as a more generic “Cryptocurrency for Good”.
Incubation period
We estimate that this project will take approximately four months to incubate and launch.
Incubation budget
We estimate that this project will cost approximately $25,000.00 USD to incubate and launch.
Project partners
This project will partner with one or more U.S.-based cryptocurrency exchanges. We want to ensure that onboarding new non-profit organizations into cryptocurrency accounts is done as easily as possible. BTRIC is not a licensed money transmitter in any jurisdiction, so we will work with partners that are so licensed, and will provide an easy onboarding experience for non-profit organizations.
Launch method
This project will be divested from BTRIC as a separate non-profit organization. We estimate that its overhead will be very minimal, consisting of website infrastructure, secure storage, and costs of postal mailing of contributions. If the IRS EO master file ever begins to include email addresses (which is under consideration), costs would be significantly reduced as the need for postal mailings would be limited to those entities that have not supplied them.
Help Make "Bitcoin for Good" a Reality
For a limited time, BTRIC is conducting our launch fundraising campaign. When you contribute as a Founding Donor, we give you BTRIC Founding Donor (BFD) Tokens. You also have the opportunity to be listed and recognized as a Founding Donor. We accept fiat and cryptocurrencies. This is a limited-time opportunity to participate as a Founding Donor and receive BFD Tokens.
Holders of BFD Tokens will receive a free grant of “BTRIC Coin” when it launches later this year. In addition, on an ongoing basis, holders of BFD Tokens receive rewards from “Bitcoin for Good” and every other project that completes our Innovations Incubator program (not only the projects we are working on now, this also includes every future project). It’s our way of returning valuable benefits and rewards to holders of BFD Tokens as recognition for supporting our launch.
