This is an opinion editorial by Renata Rodrigues, global community and education lead at Paxful.
Bitcoin is changing the face of philanthropy. Not only does bitcoin offer transparency and efficiency to nonprofit work, it also has the ability to bring in new donors. On the other end, the pairing is also reshaping how we view bitcoin.
In this two-part series on bitcoin and social good, I will focus on how two individuals and their respective nonprofits are using bitcoin to change communities around the world. What’s amazing is that you don’t need to understand bitcoin’s underlying technology to see the impact it’s made to the lives of these people.
First, we will take a look at Raul Yazdani and Agua x Vida — a nonprofit that provides access to clean and safe water to communities in Africa.
Bitcoinforthe100 is a collection of stories and use cases that prove that bitcoin is truly for the 100%. Below is one voice that is embracing bitcoin for social good.
Ra?l understands the impact that Bitcoin can have through social good. Through the non-governmental organization (NGO) he advises, Agua x Vida, children across Northwestern Africa now have access to drinkable water — all thanks to the power of Bitcoin.
Yazdani was introduced to Bitcoin through a 2012 ad, but his curiosity didn’t take hold until the 2020 market ramped up. As he learned more, he saw how beneficial bitcoin and USDT could be for the nonprofit. Before bitcoin, the organization was facilitating its donations through traditional money transfer services. Through these traditional services, they faced one huge problem: Every time they’d send funds, they’d lose 15-20% of the donations to fees.
Fueled by his knowledge of Bitcoin, Yazdani suggested facilitating these donations through Paxful using bitcoin and USDT so that instead of losing money on transfers, they could actually make a profit in the process: “This non-profit organization went from losing 15% of all donations to gaining 2%.”
In addition to fueling his NGO with bitcoin, Yazdani also runs a coffee shop in Argentina — “Caf? Con Ciencia” — with the goal of accepting 50% of all payments in Bitcoin. To do that, he runs meetups at the shop called “The Crypto Club,” to help educate the people in the area. He’s also the director of a local political think tank associated with Propuesta Republicana, where he helps develop public policies like the promotion and legislation of Bitcoin.
Yazdani believes that bitcoin is truly a game-changer for younger generations, especially for those who have limited to no access to traditional financial services. He’s seen them improve their standard of living, accumulate wealth and so much more: “I’ve seen firsthand how bitcoin can really impact lives. We’re living in a time where finance is becoming much more open. That’s why I believe bitcoin is important for social change.”
You can learn more about his story here.
This is a guest post by Renata Rodrigues. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.