Cubits recently entered a partnership with the non-profit fundraising firm Wikando, thereby enabling world’s biggest charities to receive donations in the digital currency Bitcoin.
The London-based cryptocurrency startup, which currently offers services related to buying, selling spring and accepting of Bitcoins, will also be providing the same multi-purpose facilities to Wikando. It will ensure that the online software gets to offer its users a service with no prevailing limitations.
“Collaborating with Cubits has enabled them [Wikando] to easily offer Bitcoin to charities and with 0% transaction fees,” their blog read. “Non-profit organizations can now process donations without having to worry about installing hardware, downloading software, implementing encryption, or maintaining servers, thereby freeing up their energy and resources to focus on helping their causes.”
Bitcoin Transforming the Non Profit Sector
And indeed, Bitcoin is truly emerging as one of the most viable tools for the nonprofit sector. Prior to the Cubits deal with Wikando, many charitable trusts — the American Red Cross, Greenpeace, Save the Children, amongst others — have already started accepting the digital currency in the form of donations. They however don’t accept them directly, but prefers their donations to go through a third party payment processing company, which exchange it with the fiat currencies in real time. And as usual, these companies don’t charge a penny from the nonprofits and proceeds are transferred without a single cut.
Ettore Rossetti, whose nonprofit Save the Children has been associated with Bitcoin since 2013, has a lot good to tell about the digital currency. In his last conversation to the WSJ, Rossetti called Bitcoin a “grandchild’s charity” — something that makes them accessible even to the current and future generations.
“Innovation has to start somewhere,” he had said. “These are new markets who may not have ever given to us before.”
The words have been unknowingly repeated in 2015, when Cubits chief Tim Rehder also expressed the desire to be associated with a fundraising-as-a-service platform.
“We’re extremely proud to be a part of Wikando’s fundraising-as-a-service platform,” he quoted for the company’s blog, “because for us, Bitcoin isn’t only about doing business well, but doing the world good.”
As we look into the future, Bitcoin undoubtedly promises to play a significant role in working towards a better world. With Cubits, it has meanwhile taken a greater leap towards that goal.
