Cubits Brings Bitcoin to World’s Biggest Charities

By June 1, 2015Bitcoin Business
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Cubits Brings Bitcoin to World’s Biggest Charities
  • Cubits signs partnership with nonprofit organization
  • To boost Bitcoin charities among the world's leading charitable trusts

Cubits recently entered a partnership with the non-profit fundraising firm Wikando, thereby enabling world’s biggest charities to receive donations in the digital currency Bitcoin.

The London-based cryptocurrency startup, which currently offers services related to buying, selling spring and accepting of Bitcoins, will also be providing the same multi-purpose facilities to Wikando. It will ensure that the online software gets to offer its users a service with no prevailing limitations.

“Collaborating with Cubits has enabled them [Wikando] to easily offer Bitcoin to charities and with 0% transaction fees,” their blog read. “Non-profit organizations can now process donations without having to worry about installing hardware, downloading software, implementing encryption, or maintaining servers, thereby freeing up their energy and resources to focus on helping their causes.”

Bitcoin Transforming the Non Profit Sector

And indeed, Bitcoin is truly emerging as one of the most viable tools for the nonprofit sector. Prior to the Cubits deal with Wikando, many charitable trusts — the American Red Cross, Greenpeace, Save the Children, amongst others — have already started accepting the digital currency in the form of donations. They however don’t accept them directly, but prefers their donations to go through a third party payment processing company, which exchange it with the fiat currencies in real time. And as usual, these companies don’t charge a penny from the nonprofits and proceeds are transferred without a single cut.

Ettore Rossetti, whose nonprofit Save the Children has been associated with Bitcoin since 2013, has a lot good to tell about the digital currency. In his last conversation to the WSJ, Rossetti called Bitcoin a “grandchild’s charity” — something that makes them accessible even to the current and future generations.

“Innovation has to start somewhere,” he had said. “These are new markets who may not have ever given to us before.”

The words have been unknowingly repeated in 2015, when Cubits chief Tim Rehder also expressed the desire to be associated with a fundraising-as-a-service platform.

“We’re extremely proud to be a part of Wikando’s fundraising-as-a-service platform,” he quoted for the company’s blog, “because for us, Bitcoin isn’t only about doing business well, but doing the world good.”

As we look into the future, Bitcoin undoubtedly promises to play a significant role in working towards a better world. With Cubits, it has meanwhile taken a greater leap towards that goal.


Penn State Scholar Predicts Altcoins Will Surpass Bitcoin
  • Penn State Professor predicts Bitcoin will lose its shine
  • Says altcoins will have more power over the digital currency sector

Against all the critical expectations, Bitcoin is growing — and is promising to revolutionize some of the biggest, well-settled banking infrastructures with its indisputably advanced blockchain technology. But according to an accomplished IT scholar, there is still a scope of improvement in the digital currency.

John Carroll, a Distinguished Professor of Information Sciences and Technology at Penn State University, believes that Bitcoin will lose its shine in future, if there be any additional improvements in other alternative digital currencies, or altcoins. His comments are derived from a scenario where Bitcoin will be the victim of some “pioneer’s penalty” if it fails to add anything more to the table. In simple words, who will use an acoustic string telephone when he could access a mobile phone.

bitcoin or litecoin - which is better?
bitcoin or litecoin - which is better?

The arrival of some feature-rich digital currencies, on the other hand, does support Carroll’s futuristic theories. At one point, we have Ripple — a payment protocol and a value-carrying token — that is known to be harnessing the most from the Bitcoin technology. At another, we have Dash (formerly known as Darkcoin), which is leaving no-stone-unturned in bringing out a consensus-based decentralized governance model for the entire cryptocurrency community.

Professor Carroll secretly refers these innovative altcoins to surpass, or even replace, the mightier Bitcoin. At first, the formers have the courage to experiment endlessly, given the small size of their communities. And as it seems, they are in the right direction to make a name for themselves. Bitcoin community, on the other hand, is still fighting over their chief developer’s decision to increase the block size. The lack of consensus and governance is accurately visible. It could certainly impact the currency’s growth in future, if not addressed properly.

“Bitcoin didn’t do everything right,” Carroll further states. “I don’t know whether becoming the currency of choice for murder-for-hire and drug deals helped them much. But it’s often the case that those early pioneers make missteps that are corrected by succeeding initiatives, which may be what will happen here.”

To boost Bitcoin charities among the world’s leading charitable trusts

Cubits recently entered a partnership with the non-profit fundraising firm Wikando , thereby enabling world’s biggest charities to receive donations in the digital currency Bitcoin.The London-based cryptocurrency startup, which currently offers services related to buying, selling spring and accepting of Bitcoins, will also be providing the same multi-purpose facilities to Wikando. It will ensure that the online software […]

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