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The popularity of cryptocurrency as a means of donating to non-profit organizations is gaining more and more traction. The most recent development in this area is the partnership between KryptoPal and Swiss NGO help2kids, Cointelegraph reported.
KryptoPal, a crypto software developer, will create a platform for help2kids in order for the organization to receive cryptocurrency donations from people who want to help with their cause. Help2kids lends a helping hand to the impoverished children of Malawi and Tanzania, providing basic necessities such as food, healthcare, and education. The NGO currently has 750 kids under its wing in the capital of Tanzania alone.
Among the most notable initiatives that the charity has is supporting 440 students in the suburbs of Dar es Salaam, Tanzania’s capital. While primary education is mostly free in the country, expenses such as on school supplies and uniforms hinder these kids from attending school. Help2kids removes these barriers and ensures that the students focus on their education rather than worry about sickness and hunger.
Meanwhile, KryptoPal is developing a public key along with a Know Your Customer (KYC) information system for the projects of help2kids and supervising a background check for the proposed initiatives. In addition, the developer will also incorporate its software development kit (SDK) to monitor the foundation’s donations and provide a solid security for these donations.
Through this system, donors will be able to track their assistance from the moment they send it to the organization to the allocation of it to its intended recipients. The NGO hopes that this new approach will help them expand their endeavors to regions like Asia and South Africa.
Help2kids founder and president Frank Hakenjos said that crypto donations could decrease their overhead expenditure by 10 percent, allowing them to send 90 percent of the donations they receive to the children they’re looking out for.
“We’re very excited about this year-long pilot program that we will be conducting with help2kids because not only will it enable people across the world to donate and improve the lives of children in Africa, but by also using cryptocurrency the flow of the financial transactions is transparent until the actual usage of the funds on site in Africa” said Venkat Nallapati, founder and CEO of KryptoPal.
