How Does Charity Water Use Bitcoin Donations to Combat Water Crisis?

TL;DR

Charity Water uses bitcoin donations through the Bitcoin Water Trust, which holds these funds until at least 2025 to maximize impact against the global water crisis. This approach leverages the potential appreciation of bitcoin's value, with the aim of significantly increasing the number of people who can access clean water. So far, 99 bitcoin have been committed, amounting to approximately $4 million.

Transcript

scott harrison thank you so much for joining me today you are the founder and ceo of charity water a non-profit organization bringing clean and safe drinking water to people in developing countries you've been working on this ambitious goal to solve the global water crisis and i have a lot of respect for what you've been doing since you first launc... Read More

Key Insights

• 💦 Charity Water has been working for 15 years to provide clean water to those in need, but there is still a long way to go with 785 million people lacking access.
• 🤨 Accepting bitcoin donations has been a successful strategy, with over $4 million raised, thanks to early supporters like Tony Hawk.
• 🥹 The Bitcoin Water Trust aims to take advantage of bitcoin's potential price appreciation by accepting and holding bitcoin donations for a longer period to have a greater impact.
• 🥹 The trust has received commitments from 99 individuals, and Gemini is providing custody for the bitcoin holdings.
• 👻 The trust allows for fractional bitcoin donations, making it more accessible for people to contribute.
• 🥹 The long-term approach of the trust aligns with the belief in bitcoin's value appreciation held by many in the bitcoin community.
• 🙃 The potential upside of bitcoin's value outweighs the risk for Charity Water, as many potential bitcoin donors would not have given bitcoin if it were immediately sold.

Questions & Answers

Q: How many people currently lack access to clean and safe drinking water?

Currently, 785 million people, or one in ten people, lack access to clean and safe drinking water worldwide.

Q: How much money has Charity Water raised so far?

Charity Water has raised over $550 million from a global community, which has helped almost 13 million people gain access to clean water.

Q: How does the Bitcoin Water Trust work?

The Bitcoin Water Trust accepts bitcoin donations and locks them up until at least 2025 to eliminate short-term volatility. This allows the trust to have an exponential impact in helping people get clean water.

Q: How many bitcoin have been received for the Bitcoin Water Trust so far?

The Bitcoin Water Trust has received commitments for 99 bitcoin, equivalent to about $4 million, which is enough to help 100,000 people get clean water.

Summary & Key Takeaways

• Charity Water has been working for 15 years to provide clean and safe drinking water to people in developing countries, with 785 million people still lacking access.

• Since 2014, they have been accepting bitcoin donations and have raised over $4 million, which has helped 100,000 people gain access to clean water.

• The Bitcoin Water Trust aims to take advantage of bitcoin's long-term value by accepting bitcoin donations that will be held until at least 2025 to have a greater impact in helping people get clean water.