The founder of Coinbase cryptographic instruments, Brian Armstrong, announced the launch of the GiveCrypto charity to distribute $ 1 billion directly to people in need around the world. Recipients will be able to decide for themselves whether to leave the received funds in the crypto currency, or to transfer them into ordinary money.
Until the end of this year, GiveCrypto intends to accumulate funds for $ 10 million, bringing the figure to a billion dollars in the next two years.
“I began to think about the project about a year ago, looking at the money that people make on the” crypt. ” Our goal – to help people in distress and are in an economic crisis “, – said Armstrong.
Commenting on the decision to direct funds directly to the needy, the businessman referred to some studies. According to them, the centralized distribution of money leads to the fact that a large part of the funds are spent before they fall into the hands of those in need. In the case of GiveCrypto, there is no “middleman-administration”.