At a charity event with the use of cryptocurrencies, organized by the canadian charity organization Covenant House Toronto, has raised three times more funds than expected. The total sum amounted to $ 70,000 in Ethereum.
Always amazing what can happen when people control their economic decisions. Without bureaucracy, without banking regulations and senseless bureaucracy. People try to realize a lot more on their own, when they get freedom of action. This is especially true when it comes to charity. An example of this is a charity event with the use of cryptocurrency for Covenant House Toronto, which greatly exceeded all expectations.
Go to the crypto tree
This event was called the “Merry Merkle Tree” and held on December 21. It was attended by over 200 people and was organized by Robbie bent, Executive Director Truebit. Instead of the traditional Christmas tree at the event used the hash tree (Merkle tree) connected to the blockchain.
The goal was to collect $ 25,000 for Covenant House Toronto, a charity that provides food and shelter for homeless youth. Bent said about the idea of a Christmas tree and measures the following:
“We found this word game fun. What if we had a Christmas tree that was lit on the basis of events occurring on the Ethereum blockchain? This is the first hardware Christmas tree, which has been linked to bloccano”.
The word quickly spread beyond the event that sparked a flood of donations, mostly in the Ether. We collected $ 3,000 in cash and $ 70,000 in Ethereum. Donations came from companies and individuals from around the world.
A season of gifts
For the event were collected 86 Ether. Ultimately the charity hopes to collect $ 200,000. This amount is sufficient to feed all the residents of the shelter throughout the year. To date, 100,5 Ether. Charity event continues, and donations can be made here. Cryptocurrencies transferred to Fiat money in early January.
Of course, bent is very happy with the collected amount and the response of the cryptocurrency community. He said:
“It’s a real community. 3000 people are obsessed with this technology and how it can change the world. I believe that this is the type of people who are willing to share with the needy”.
The rise in the price of bitcoin has enabled many people to seriously help the charity. The couple who bought bitcoin back in 2013, donated all his profits to the center for the study of cancer MUSC Hollings Cancer Center in South Carolina. The main figure of the cryptocurrency charity this year was the Pine, the founder of the Foundation Fund Pineapple. He started mining bitcoins when the cryptocurrency was in its infancy. And it has yielded results. He realized that he earned more money than he will ever need. So he created a Foundation for the allocation of 86 million dollars worth of bitcoin for worthy charities.
Good things happen when people are not burdened with regulations, governments and financial institutions. Event Merry Merkle Tree is the latest example of how people use crypto-currencies for an extremely worthwhile cause. Now many young people will have a safe place to sleep and food thanks to the generosity of supporters of the cryptocurrency.