African based charity GiveDirectly has announced that they received $1 Million worth Cryptocurrencies from OmiseGo, along with Ethereum’s Co-Founder Vitalik Buterin. This money will be used to make the lives of 12,000 families who are refugees in Uganda.
GiveDirectly will now accept Cryptocurrencies for Charity. Catherine Diao, the head of Communications for GiveDirectly said “This is a major new chapter for us, entering the humanitarian space with a service to give money directly to refugees. While cash transfers have been used in humanitarian contexts before, this initiative is a significant departure from the status quo because we’re giving families transformative amounts of money versus small, subsistence amounts.”
This is the first time OmiseGo is donating to a charity after raising $25 Million in an ICO last year. Jun Hasegawa, CEO of Omise said“The crypto economy has grown immensely over the last year, bringing a great deal of wealth to many people and organizations within the ecosystem. In part we simply see an exciting opportunity to share that wealth. We hope the fortunes made in the crypto space will lead not to extravagant lifestyles but to extravagant generosity,”
Vitalik Buterin on the other hand is no stranger to philanthropy. He’s been giving millions of dollars to charities worldwide ever since the price of Ethereum exploded from $8 to $800 last year.
When the Cryptocurrency market exploded last year, some people have started giving it away. Just yesterday, Ripple donated $29 Million worth XRP to fund 30,000 schools in an American Public Schools Charity.