Bitcoin

How the World's First Bitcoin Charity Is Harnessing the Cryptocurrency to Change Lives (VIDEO)

Former Staff Writer
4 min read

To the uninformed, Bitcoin can conjure notions of hard drugs, assassins-for-hire and other illicit services being transacted across the Deep Web. But The BitGive Foundation, which describes itself as the world’s first Bitcoin nonprofit, turns this stereotype directly on its head.

The organization partners with nonprofits like Save The Children and The Water Project, explains founder and executive director, Connie Gallippi, and harnesses Bitcoin’s benefits -- namely cheaper, faster and more secure transactions -- in order to raise charitable funds.

In March, BitGive unveiled a water well at a girls’ school in Western Kenya funded entirely with $11,000 in Bitcoin donations culled from members of the Bitcoin community. The well serves 500 Kenyans who wouldn’t otherwise have access to water, says Gallippi, who spoke to Entrepreneur at this year’s Inside Bitcoins conference in New York City. “It has made a huge impact.”

For more from Gallippi about the altruistic prospects of the cryptocurrency, check out this short video.

Related: New York Just Issued Its First-Ever Bitcoin Banking License

More from Entrepreneur

Elizabeth's expertise can help you scale your business, build a personal brand and focus on being a value-driven CEO.
Book Your Session

For a limited time only, get this bundle of Entrepreneur PressĀ® titles for less than $30 (60% OFF) on our bookstore when you use "LEAP" at checkout.
Buy Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.