Coinbase participates in NGOs ‘ efforts using cryptocurrencies to assist Haitians affected by civil unrest and earthquakes.

Coinbase, one of the leading crypto exchange platforms across the globe has donated $150,000 to Hope for Haiti. This fund is said to be used to finance a pilot program sought to offer monetary help to Haitians experiencing financial and social hardship. 

On Tuesday, 25th of January 2022, Hope for Haiti made an announcement stating that Coinbase donated $150,000. The organization affirmed that the fund will be used for its pilot program with Rising Effect, a monetary inclusion-driven agency, and the Celo Basis. 

Courtesy of Hope for Haiti’s partnership with Celo, the pilot program will use the Celo Greenback (cUSD). That’s not all, Haiti’s partnership with Rising Effect also allows the undertaking to utilIze their Umoja platform. This is all in a bid to provide cash-based assisted mothers affected by the traumatic situations within the country. 

Haiti, in the last twelve years, has been struck by 4 major earthquakes which include Monday’s latest earthquake. The earthquake is of 5.3 magnitudes and has reportedly destroyed 200 houses and two deaths have been recorded. 

Another major earthquake that rocked the Caribbean country was in 2010. The earthquake rocked the country’s metropolis capital of Port-au-Prince and according to reports, the earthquake of 2010, had a magnitude of 7. 

Presently, the country is in a state of civil unrest which is partly related to the assassination of the country’s President, Jovenel Mo├»se which happened in late July. The state of unrest in the country can also be attributed to the present pandemic which has been ongoing for years now. 

Hope for Haiti

Hope for Haiti is a non-profit organization established by JoAnne Kuehner in 1989 and has its headquarters built in Florida, USA. Since its launch, the organization has been working very hard to improve the standard of living of the Haitian people. 

The organization primarily focuses on children through healthcare, education, water, economy, and infrastructure. In addition to this, Hope for Haiti has also established an emergency relief unit, responding to various natural disasters within the country. Since its establishment, Hope for Haiti jas responded to Hurricane Matthew and the 2010 Haiti Earthquake. 

To further serve the people of Haiti, Hope for Haiti has formed a partnership with Coinbase and Emerging Impact.  The idea behind the project is to use the Celo blockchain to usher philanthropy into a new era. They believe this will allow more private participants to get involved in philanthropy and support global change. The project will help organizations facilitate change with total transparency and quick delivery times. 

Coinbase’s Helping Hand

Coinbase Giving, the charitable arm of Coinbase has released $150,000 as monetary support for about 1,500 Haitian citizens. These individuals will get the help they need through the diet program organized by Hope for Haiti group. 

Affected individuals should be able to use the fund to buy basic household items. The Hope for Haiti group is collaborating ain’t more than 30 retailers in the country to push the project. The distributor also has the choice of disbursing the virtual funds via MonCash, a native cash administration service. 

According to Dominique Baillet, the head of Coinbase Giving, the initiative with Rising Effect and Hope for Haiti is quite thrilling. She added that the thrill can be attributed to how the initiative makes use of blockchain-based creativity to promote efficient and environmentally friendly giving. Dominique further hopes that the initiative will serve as a motivation for various concepts across the philanthropic and sectors-economy sector. 

A lot of charitable organizations and individuals are now using the crypto approach to get funds to people who need it most. These funds are usually disbursed in situations where political turmoil or a natural disaster has ravaged a country. For instance, as the news about the catastrophic hurricane Rai hit the Philippines, many sprung into action. At that time, Yield Guild Video games, a play-to-earn gaming group, raised $1.4 million. The funds were disbursed to a lot of people in the Philippines who were injured and displaced as a result of the natural disaster. 

Presently, some catastrophe reduction groups are now accepting crypto donations following the Texas Winter Storm last February. Many of these groups now consider it as a quick way to rapidly respond to catastrophic situations.