PINEAPPLE FUND - A CHARITY CRYPTO

mkrvx0 (28)in #bitcoin • 7 years ago (edited)

One day in January, the property of a small non-profit medical research center receives an email that will change the fate of her business: a very large donation proposal (1M USD), to which others would follow. All paid in BTC.

This email was signed "Pine", an anonymity benefactor who likes pineapples.

Pine has become particularly rich thanks to the purchase of many Bitcoins long ago, which led him to have too much money to spend all of them (his textual words).

He then decided to create a fund, called the "Pineapple Fund", to be allocated to charitable organizations.

To date, 5057 BTCs, equivalent to about 86M $, have been donated to a total of 60 Charities. Transparency is guaranteed by the Blockchain: on the website of the fund, all transactions are present, verifiable.
In this way, it is certain that the funds have been assigned to the intended recipients, which by the "classical" methods requires an act of faith. There is also a "Proof Of Ownership", which is an encrypted message in a block of the BTC Blockchain containing the url of the Pineapple Fund site, sent from the wallet to itself to prove its membership in the fund.

The integration with BitPay-type services then allows the target associations of donations to take advantage of the countervalue of BTCs in current money. I see a very wide application of cryptocurrencies in the field of charity, precisely because of the transparency and immutability that the Blockchain is able to offer.

This post is a provocation to those who continue to associate Bitcoin with anonymity and illegality.

This use case is configured as the exact opposite.

How about starting to advertise the good works related to cryptocurrencies, instead of just buying drugs?

Take a loog at the Pineapple Fund website and here the Reddit post.