Bitcoin and the nascent crypto industry have the power to change the world that we live in. On September 5, a non-profit organization Rainforest Foundation US announced they will start accepting donations in crypto from now onwards. The donated funds will go into protecting the Amazon rainforests.
The Rainforest Foundation is different from other groups that are appealing for assistance in that they promise a benevolent use of the acquired funds. Moreover, this group has promised transparency in the usage of the funds that they get. This Foundation was launched in 1988 and works in Central and South America although its headquarters are located in Brooklyn, New York.
The Crypto Link
The Rainforest Foundation is not a new entrant into the crypto scene. According to their website, they started development of their local cryptocurrency in 2014. Their token is called Bitseeds and it was once listed on the Bittrex crypto exchange. The organization proclaimed itself to have been unsuccessful.
However, it had also contributed to the cryptocurrency community in recent years through fundraising via CryptoCare and CryptoKitties “Jungle Kitty”.
Suzanne Pelletier, the Executive Director, spoke on the reasoning behind reaching out to the cryptocurrency community. She said:
“Business, as usual, has gotten us to this point. Philanthropy as usual won’t get us out. We need innovative solutions, and no one is more innovative than cryptocurrency users.”
However, that is apparently not the only reason behind choosing to reach out to crypto for assistance. According to the United States law, digital assets are considered as property just like stocks. It means that when donating cryptocurrency to a non-profit, no capital gains tax appears either on the organization or the donator’s end.
The foundation beefed up their campaign of reaching out to the crypto community for assistance with a further comment:
“We have long-known that the crypto community has the power to change the world. We hope you will help us do just that by joining our #CryptoFireFighter coalition.”
Channels of Donation
Currently, the Rainforest Foundation is accepting fiat donations together with Bitcoin Cash, Ether, Bitcoin, and Litecoin. Nevertheless, the foundation is ready to accept other assets through emailing directly to Pelletier. This is the perfect opportunity for the crypto community to lend a hand in protecting the world against deterioration from this massive fire.