• Sun. Jun 23rd, 2024

First-Ever Cryptocurrency Only Donation Fund Created by the American Cancer Society

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Jan 28, 2021

When it comes to serving noble causes for the needy, the American Cancer Society is a non-profit organization contributing a lot to the cancer victim community. With time, as the world has moved on adopting the crypto-blockchain technology in different ways, the American Cancer Society is also finding ways to adopt it.

According to sources, the American Cancer Society recently expressed that it was looking into finding a solution with the blockchain technology. However, the American Cancer Society has recently shared an update that goes onto show its dedication towards gathering funds for the cause it is serving.

The American Cancer Society has announced that it has set up a cryptocurrency fund where the cryptocurrency would be able to donate cryptocurrencies. The non-profit organization has revealed that with the launch of the crypto-donation platform, it aims to achieve a new benchmark.

The American Cancer Society has communicated its plans on raising $1 million in the first quarter of the year 2021. In order to launch the cryptocurrency donations fund, the American Cancer Society has collaborated with The Giving Block. By collaborating with The Giving Block, the American Cancer Society will be able to collect donations in several cryptocurrencies.

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The American Cancer Society revealed that its collection activities were badly affected in the year 2020. That was mainly because of the pandemic that had hit the United States and resulted in strict lockdowns and curfews. As a result, The American Cancer Society reported that it funding for research on cancer-related research has experienced a significant drop.

The American Cancer Society revealed that the donations collection for 2020 dropped by 50% compared to the year 2019.

The non-profit organization has revealed that with the launch of the cryptocurrency funding platform, it is planning to make up for the loss and raise funding for the ongoing cancer-related researches.

The organization has also confirmed that the drop in donations it experienced was the lowest of the century. This was mainly because people in the United States were hit hard by the pandemic and faced very harsh financial times in 2020.

The American Cancer Society also revealed the motivations behind the development and launch of a crypto-based donation platform. It stated that although the entire world was hit hard by the pandemic during 2020, yet the crypto-industry did not make much impact.

Most importantly, the cryptocurrency industry experienced a huge surge with respect to the user base in the same year. As the industry has seen millions of users join the platform, therefore it would be a good idea to get the help of cryptocurrency investors.

As far as the organization knows, the crypto-community has been very supportive to many causes and it has the same expectations from the cryptocurrency industry.

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