Bitcoin Fund Donates Millions in Cryptocurrency to Universal Basic Income Charity
The benefits of universal basic income have been a topic of debate by well-publicized trials in Finalnd and Canada. Now, Bitcoin fund has announced that it has donated $5m worth of cryptocurrency to the charity behind ta massive universal basic income experiment in parts of Uganda and Kenya.
The Pineapple Fund is an organisation that mines, buys and trades crytpocurrencies. According to its website it donates to a number of charities, including several that work towards supplying poor communities with water, promoting gender equality, and one that is campaigning for the legalisation of psychedelic medicine.
Typically, recipients in Kenya get a text message alert and then collect the cash from a mobile money agent in their village or nearest town. In Uganda, the charity uses a mobile payment system to send recipients their transfers. GiveDirect also said that it calls each recipient to verify receipt of funds, flag issues, and to assess its own customer service.