United Way Reveals Why It Became Bitcoin’s Biggest Charity
CoinDesk.com
by Published on September 30, 2014 at 10:27 BST
United Way Worldwide began accepting bitcoin donations to support its Innovation Fund earlier this month, a move that was widely discussed, given that United Way is one of the largest privately held nonprofits in the world, raising more than $5bn annually.
Nearly 20% of the contributions the Innovation Fund receives are from people employed by corporate partners, including Bank of America, Exxon Mobile, General Electric, ING Group, JPMorgan Chase & Co and the National Football League (NFL). However, according to United Way executive VP and chief strategy officer Evan Hochberg, bitcoin is a way to bolster individual contributions to the Innovation Fund.
As such, Hochberg said that United Way aims to continue to engage the bitcoin community as it seeks to diversify the contributions it receives.
Hochberg told CoinDesk:
“Our engaging bitcoin was a recognition there’s a fast-growing, innovative, passionate group of people looking to make charitable donations based on the interest in using this currency. We wanted to be at the forefront of that conversation.”
The United Way Innovation Fund is a division of the charity dedicated to updating solving global challenges with new technologies and innovations.
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