Susan G. Komen, a leading breast cancer organization, is now able to accept digital currency donations.
Susan G. Komen Will Allow BTC and Other Crypto Donations
The news is huge in that digital currencies are being pushed closer towards their initial goals. What many people may not understand at this point is that bitcoin and other forms of crypto, while primarily speculative, were not designed to just be tradable assets. Rather, they were initially created to serve as payment methods for everyday goods and services. They were built to push credit cards, checks, and even fiat currencies to the side. Unfortunately, this journey has been very slow given that they tend to be rather volatile.
Crypto assets can move up or down at a moment’s notice. As a result, many stores, businesses, and retail outlets have said “no” to digital currency payments out of fear that they will potentially lose profit, and to an extent, we cannot really blame them.
Consider this scenario: a person walks into a store and decides to purchase $50 worth of merchandise with bitcoin. For one reason or another, the store does not trade that crypto in for fiat right away, and within a 24-hour period, the price of bitcoin goes down to the point that that $50 is now worth $40. The person still gets to keep everything they bought, but the store has lost $10 in profit. Is that a fair scenario? Not everyone thinks so.
Thanks to Susan G. Komen, bitcoin, as well as other forms of crypto, are now being used for the right purposes. The organization has formed a partnership with The Giving Block to accept digital currency donations. Among the many forms of digital currency that Susan G. Komen will accept include bitcoin, Ethereum, USD Coin, Dai, Internet Money, Merit Circle, Basic Attention Token, Network Token, and bitcoin cash.
Komen president and CEO Paula Schneider explained in an interview:
We are excited to welcome donors who want to support the mission of Susan G. Komen to end breast cancer through cryptocurrency and appreciate the partnership with The Giving Block to make this possible.
How the Company Got Started
Pat Duffy – co-founder of The Giving Block – was also quick to mention:
Today, hundreds of millions of people use cryptocurrency, and with an average gift size of nearly $11,000, nonprofits who prioritize crypto donors are getting ahead.
As a leading nonprofit breast cancer organization, Susan G. Komen has worked hard to save countless lives. It has supported millions of people in both the United States and abroad by advocating for patients, performing research, and offering high-quality care to patients that have been afflicted with the disease. The firm was founded by Nancy G. Brinker, who promised her sister – Susan G. Komen – that she would eradicate the disease that stole her life.