Bitcoin Cash Association To Help Charity groups in Venezuela and South Sudan - Bitcoin Cash (BCH) News. Friday, October 26th
Charity groups in Venezuela and South Sudan to receive help from Bitcoin Cash Association
$1,000 in BCH will be donated each month
The Bitcoin Cash Association (BCA) has recently announced it will support two charity projects with a monthly donation of $1,000 in Bitcoin Cash (BCH). The funds will be used to acquire food for people in Venezuela and South Sudan, through initiatives by EatBCH.
“Starting now the BCA will support the EatBCH initiative with $1,000 per month in funding to go towards helping feed people that are most in need” the BCA stated in its announcement. “The $1,000 will be split evenly between the Venezuelan and South Sudanese parts of the project.”
With the monthly donation, the groups will have a stable income that will help them in the acquisition of foods and other supplies to help citizens in need. One of the reasons for the association to start funding these projects in a monthly-basis is due to the current financial issues of relying only on cryptocurrencies, as its volatility and the bear market can reduce the value of this assets.
However, with this funding, the BCA expects to see an increase in BCH adoption in both countries, since the projects are in a constant search for suppliers that accept this cryptocurrency as payment.
EatBCH is an initiative that eyes to help those in need, by acquiring food and other supplies and give them to these people. It began in Venezuela by two brothers, José and Gabriel, who couldn’t stand still before the critical situation their country is undergoing – where there is an alarming scarcity of basic goods such as food and medicines. This, along with the hyperinflation and the unsuccessful economic measures taken by the government to face these problems, have forced people to either spend days without eating anything, or looking on the trash for leftovers.
By taking donations from people in the form of BCH, José not only has overcome the strict currency exchange control ruling in his country, but has found a community willing to help him in his endeavor to help others. The project has been successful enough to see a team taking care of the same issue but in another country – South Sudan.
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