Blockchain technology has disrupted several industries, some being more marketed than others. Although equally valuable, one of these lesser-known industries that have undergone a major shift is that of fundraising. Under the traditional model, donations were typically inefficient, requiring high processing fees and less of the donated funds being allocated towards the nonprofit's mission. The other major concern is in addition to the inefficient donation model, it is difficult for organizations to connect with the larger community and inspire longstanding change.
With cryptocurrency, crowdfunding becomes more transparent, faster and cost-effective than traditional currencies, ensuring those in need receive the proper assistance. Furthermore, with the underlying blockchain technology, better tools ensure that cryptocurrency enthusiasts who desire to give back can quickly seek out projects with missions that align with their own goals while maintaining a certain level of transparency and security.
EarthFund demonstrates just one example of this new take on fundraising, arising as a cryptocurrency-based crowdfunding platform targeted at projects and ideas that can improve the world. Intending to put the power of change in a user's hands, the team has recently joined forces with best-selling author Deepak Chopra and the Chopra Foundation to launch the NeverAlone cause token and the Mental Health and Wellbeing autonomous community.
The Chopra Foundation has already demonstrated a strong foundation for success, based on their previous experience using blockchain for good, to launch the SameYou nonfungible token (NFT) collection with a Hollywood actress Emilia Clarke. When deployed, this collection raised money to help people
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