Coinbase Joins NGO Efforts Using Cryptography to Help Haitians Affected by Earthquakes and Civil Unrest

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Leading crypto exchange Coinbase has awarded a $150,000 grant to Hope for Haiti as part of a pilot program to provide financial relief to Haitians experiencing social and economic hardship.

In an announcement on Tuesday, Hope for Haiti said Coinbase would contribute $150,000 to its pilot project with financial inclusion-focused company Emerging Impact and the Celo Foundation. According to Celo, the project uses the Celo Dollar (cUSD) and Emerging Impact’s Umoja platform to provide cash assistance to mothers affected by some of the traumatic events in the Caribbean nation.

Haiti has been hit by four major earthquakes in the past 12 years, including a 5.3 magnitude quake on Monday that reportedly killed two people and destroyed 200 homes. However, the island nation’s capital, Port-au-Prince, was also significantly damaged by a magnitude 7 earthquake in 2010, followed by protracted civil unrest that was, in part, related to the current pandemic and the ongoing pandemic. Assassination of Haitian President Jovenel Moïse in July.

At least two dead in Haiti earthquake, 200 homes destroyedhttps://t.co/4R5yzdmmrV pic.twitter.com/pgHDEOLIoy

— TV Channels (@channelstv) January 25, 2022

Coinbase’s charitable arm, Coinbase Giving, provided the funds to be used to benefit approximately 1,500 Haitians – those families with children enrolled in Hope for Haiti’s community nutrition program. Data subjects should be able to use the funds for goods and services at more than 30 participating merchants in Haiti, with the ability for sellers to cash out the digital funds using local money management service MonCash.

“This initiative with Hope for Haiti and Emerging Impact is particularly exciting because of how it uses blockchain-based technology to promote more effective giving and hopefully serve as inspiration for ideas in the areas of cryptoeconomics and philanthropy,” said Dominique, head of Coinbase Giving. Baillet.

Related: Blockchain folk hero Nandy Martin hopes to build a better community for Haitians in Miami

Many individuals and charities have used crypto as a means of getting money into the hands of those who need it most following a natural disaster or who are in a country in the throes of political turmoil. . After many people in the Philippines were displaced or injured as Typhoon Rai swept through the region in December 2021, video game group Yield Guild Games raised $1.4 million to help victims. Similarly, following the winter storm in Texas in February 2021, some local disaster relief groups announced that they would be accepting crypto donations.

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