The Mexican bitcoin exchange, Bitso, has recently announced they have begun collecting donations for victims of the 7.1 magnitude earthquake that took place on September 19 in central Mexico. Directly before this campaign, Bitso had been collecting funds for the earthquake that occur just barely two weeks prior, and other private organizations have been since matching donations for the multitude of natural disasters that have transpired in the past thirty days. The trading platform has promised that it will provide verifiable receipts signed by Mexico’s Central Bank confirming that donations were made to ensure full transparency. This campaign helps to present cryptocurrency in a less nefarious sort of light in that it isn’t simply an underground, dubiously legal method of collecting wealth, but instead has potential to be used for global good. Given Bitcoin’s recent 10% decline in value as a result of China’s increased restrictions on cryptocurrency as a whole, there may be a chance that these types of movements can help solidify its overall confidence level for the public.
I agree with you that this is a positive movement that could help in the image making of cryptocurrency. China had around 90% of the bitcoin exchanges, hence this would also make the bitcoin bit less concentrated in one country. I want to see how this will affect the bitcoin value as well.
ReplyDeleteIt is amazing that the Bitso is turning their efforts to a good cause. The fact that they are teaming up with the Red Cross and Bitso is said to be quick and efficient could really help turn around this area. I, too, am interested to see how this will affect the bitcoin value. I hope that if this turns out well people are more confident to use cryptocurrency, even if it is just used for sticky situations like natural disasters.
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