Venezuelan Charity Campaign 2.7 million USD in Bitcoins

By Rishma Banerjee

According to recent reports, a charity campaign in Venezuela, Airdrop, is doing it with the help of blockchain technology. The primary aim of the campaign is to collect cryptocurrency worth a million dollars. Blockchain Technology has seen widespread acceptance over the years across many sectors, and now charity campaigns are using them too. Currently, reports say that a total of 2.7 million USD have been raised.

The campaign is being led by Steve Hanke who is a professor and also the economic advisor of the former Venezuelan president. He is also the one who revealed the numbers stated above in an interview.

The campaign has collaborated with AirTM, which supports over ten cryptocurrencies. Steve Hanke also revealed that the initial plan is to have over a hundred thousand (100,000) Venezuelans register for the campaign and these will be the people who receive the donations. But as of now, the progress has been extremely slow.

During the interview with Hanke, issues of politics was brought up as well. The crisis at hand is that the CEO of AirTM is planning to partner up with an opposition leader in the future. Hanke emphasised that the very purpose and motivation behind this whole campaign is not to create chaos but rather to assist people. Politics was never involved in this campaign, as the campaign leaders expressed.

Another objective that Hanke wanted to achieve was to demonstrate to the world, the benefits of blockchain technology by using it in his campaign. In this way, many people new to the technology will be more accepting of it. Crypto is being adopted in Venezuela at an impressive rate despite the political and economic problems in the country. This can also explain the surge in trading prices of bitcoin. Venezuela’s acceptance of the new technology so quickly poses good prospects for the technology’s future as it has started to prove its worth to the masses now.