We chose ADA because it is supported by the Cardano Foundation – Bitcoin News Interview

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In July 2021, the non-governmental organization (NGO) Save the Children in Rwanda announced its partnership with the Cardano Foundation on a project that allows supporters to donate in the form of cryptocurrencies.

Save the Children meets ADA

At the time, it was revealed that Save the Children’s acceptance of ADA donations was not the first time the non-governmental organization (NGO) had accepted crypto. In fact, Save the Children says it has been accepting donations in the form of cryptocurrency since 2013.

However, some have questioned the wisdom of accepting donations in a form of currency that they believe is too volatile. On the other hand, others want to know why a more than a century old charity chose to work with Cardano.

To find out why the NGO made these choices, Bitcoin.com News reached out to Ettore Rossetti, Save the Children Senior Advisor, Digital Innovation and Marketing, via email.

Bitcoin.com News (BCN): Cryptocurrencies are generally volatile, but Save the Children is one of the first NGOs to accept them. How did it start?

Ettore Rossetti (ER): At the end of 2013, the bitcoin community approached us to help us fight the typhoon in the Philippines. We were already familiar with bitcoin by some of our player supporters and this investigation was the tipping point for us to put in place internal mechanisms, policies and procedures to accept it.

BCN: Can you tell us the motivation behind Save the Children’s pivot towards cryptocurrencies?

ER: I wouldn’t call it a pivot, I would call it an additional way to support our mission and our belief that children have a right to a bright future: good health, quality education and protection from violence. We’re doing whatever it takes to help children in over 100 countries.

BCN: Opinions are divided on cryptocurrencies, but Save the Children continues to embrace them. Aren’t you worried that some of the negative crypto stories might upset some of your traditional donors?

ER: Right now, percentage cryptocurrency donations are only a very small part of our private income. However, he has the hope and the potential for us to reach a new and different type of donor and inspire the next generation of donors and philanthropists. No one is obligated to buy, hold, or donate cryptocurrency if they don’t want to. We accept fiat and crypto donations on our website: https://www.savethechildren.org/bitcoin.

BCN: You recently launched a platform that allows supporters to donate through ADA cryptocurrency. What has been the response or reaction of the donor community?

ER: It’s still too early to draw a conclusion. In order to deliver successful innovation, we need to try new and different solutions, test and learn what works and what doesn’t. One of the keys to successful innovation is timing: if it’s too early or too late, it will fail, but if the time is right, it can work.

BCN: Can you explain the importance of blockchain technology?

ER: DLT (Distributed Ledger Technology) like blockchain has the potential to disrupt and revolutionize traditional systems and processes. The social sector is no exception. Some people call it Web 3.0, just like the internet and social media is a game-changer for social change, just like Web 3.0.

BCN: How much has Save the Children collected via crypto over the years?

ER: We have increased the fiat value of the cryptocurrency by more than seven digits in the last two years alone.

BCN: After the bull market hit new all-time highs, many cryptocurrencies have practically lost over a quarter of their value. So how do you make sure that crypto donations that are received in a bull market are preserved?

ER: Our current policy is to exchange the donation of cryptocurrency for fiat soon after the contribution. So our approach is to use it as an immediate impact vehicle rather than an investment vehicle.

BCN: Can you explain why you chose to partner with Cardano?

ER: Cardano (ADA) is supported by the Cardano Foundation, is interested in community projects in Africa – one of the continents we work on – and has engaged a stakeholder pool for non-profit organizations.

BCN: Are you also open to working with other crypto organizations?

ER: Yes, Save the Children is open to working with other cryptocurrencies, blockchain, NFT projects, and charity tokens. For any request, send an email to [email protected].

What do you think of this interview? Let us know what you think in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

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