ETN Donate is a cryptocurrency donation platform that allows users to donate to various charitable causes across the world easily. It was created by the Electroneum team, which aimed to harness blockchain technology for social good uses.
The ETN Donate platform functions as a digital wallet and allows people worldwide to make their donations directly with their smartphones through the Electroneum app. The platform also provides complete transparency around how funds are being used in real-time, giving donors assurance of where their money is going to make an immediate impact.
The ENT Donate Project
Electroneum’s goal was to simplify fundraising for charities while expanding its base of support globally, thus connecting millions of dispossessed or disadvantaged individuals with some much-needed funding opportunities necessary for achieving financial stability and social equity.
The idea behind ETN Donate is simple — provide people with an easy way to give back by using cryptocurrency. With traditional donation methods, there are often fees associated with transferring funds and some countries have restrictions on where donations can go. With ETN Donate, the ability to support charities globally becomes simpler than ever before with fast transaction times with little to no fees at all depending on the campaign structure set up by the charity.
Similar to its parent-coin Electroneum (ETN), ETN donate utilizes mobile mining technology by enabling cryptocurrency mining on low-end smartphones without requiring significant energy usage or expensive equipment altogether.
Despite this innovative system, it may be argued that using cryptocurrencies complicates donations for average users who aren’t familiar with it; however, ETN Donate mitigated this challenge by streamlining the entire process into three major steps:
- Create your own transaction from your crypto wallet (i.e., entering an amount you want to contribute);
- Select among a list of nonprofit organizations participating in the program;
- And finally, sending funds instantly and securely via QR code integration.
The Project’s Impact
Apart from ease-of-use benefits provided by smart contracts running on a blockchain network, projects like this can be more advantageous over more traditional processes. These are:
- They provide global coverage, 24/7, rather than relying exclusively on events-based drives during office hours only. This translates to an increased chance at reaching fundraising goals rapidly compared to conventional methods based entirely upon “offline” organizing efforts.
- Electoneum has established its influence on both developed and underdeveloped countries due to its extensive “Know Your Customer” (KYC) procedures and Anti-money Laundering (AML) regulations ensuring transparency on every transaction while fostering trust among existing communities worldwide.
- Reduce potential barriers surrounding accessibility issues such difficulties during natural disasters, where local currencies may not be readily accepted immediately. Such events, like the recent earthquake in Turkey, creates complications when trying to send monetary help for relief and search and rescue operations.
Unlike the Binance Charity Foundation, ETN Donate is primarily facilitating monetary transactions through the Electroneum (ETN) token. All donations gathered will be sent directly to numerous charities worldwide specializing in numerous social causes ranging from education, health care, and poverty relief initiatives for developing economies all over Africa and Asia, especially those experiencing hunger and/or famine crisis.
Partners and Collaborations
Some examples of organizations that are currently accepting donations through ETN include:
- The United Way-South Africa Fundraiser which uses its donation towards meeting basic human needs like shelter, food distribution among other aid-related activities.
- Little Edi Foundation offers children access to educational resources, health care programs, and other common problems arising from poverty towards youth development initiatives.
Final Thoughts
This initiative empowers individuals who aim at improving social circumstances, offering hope across underprivileged regions while simultaneously showcasing continuous growth seen within crypto space. This project helps propel forward humanitarian intentions replacing outdated structures predominant, like traditional charity events, this recent years.
