The founder of Ethereum Vitalik Buterin together with OmiseGo, the platform designed on the Ethereum network will donate $ 1 million worth of OMG tokens to people living in poverty. The transaction will be realized through the GiveDirectly organization based in East Africa.
The announcement about Vitalik Buterin’s donation came as a response to the many individuals who are part of the so-called “crypto rich community“.
According to the statement published by GiveDirectly organization, “The crypto economy has grown immensely over the last year, bringing a great deal of wealth to many people and organizations within the ecosystem. In part we simply see an exciting opportunity to share that wealth. We hope the fortunes made in the crypto space will lead not to extravagant lifestyles but to extravagant generosity.”
In order to realize the $ 1 million transaction, OmiseGo signed a deal with GiveDirectly, both organizations making sure they comply with the laws in force.
According to the statement, we are currently in a complicated period for nations living in poverty. Refugees are people who deserve probably the most to receive donations. There are “more than 65 million displaced from their homes. […] Many also find it difficult to re-enter the formal financial system as they lack appropriate local documentation. They are precisely the people we wish to see benefiting from the “unbanking” effect that OMG is designed to create. We’re excited to plug them back in, transfer funds, and let them get to work.”
Ripple donated $ 29 million worth in XRP to support public schools in US
Another significant donation was made by the Ripple network. The team has provided $ 29 million to support public schools in the United States. Transactions were also supported in crypto assets, XRP.
“Our donation fulfilled every request listed on the nonprofit’s website yesterday. Today, nearly 30,000 public school teachers in every state and approximately one million students are receiving books, school supplies, technology, field trips, and other resources vital for learning through DonorsChoose.org.”