Giving Tuesday in Venezuela: crypto donations thanks to AirTm and Zcash
Giving Tuesday in Venezuela: crypto donations thanks to AirTm and Zcash

Giving Tuesday in Venezuela: crypto donations thanks to AirTm and Zcash

By Marco Cavicchioli - 28 Nov 2018

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Yesterday was Giving Tuesday, the day of the week on which donations to the underprivileged are encouraged.

For the occasion, a new Mexican online wallet service, AirTM, in collaboration with Zcash, has decided to collect and distribute 1 million dollars to one hundred thousand Venezuelans in need, giving them each 10 dollars in crypto.

To do this, the website was launched, where all the information regarding donations and updates on the development of the project are collected.

The roadmap foresees that the collection of donations, started during the Giving Tuesday, will end on December 31st, 2018. The goal is to reach 1 million dollars, to be distributed to Venezuelans through an airdrop. On the first day, about $20,000 were raised.

After that, a check will be made of the Venezuelan accounts to which the funds raised will be sent and the distribution should start on January 21st, 2019.

Anyone can send their donation, using 10 different cryptocurrencies, from Bitcoin and Zcash to Ethereum and XRP.

Zcash is also actively participating in the project through a crowdfunding campaign and a considerable donation in ZEC.

AirTM will donate 100% of the funds raised to the hundred thousand Venezuelans, without charging any commission or deduction, and will able to ensure that the 10 dollars distributed retain their value.

To date, more than 31,000 Venezuelans have applied to receive these 10 dollars.

Although the 10 dollars per person may seem few, it should be remembered that due to hyperinflation of the local currency (the bolivar) with a similar figure in Venezuela you can pay a month of medicines, two weeks of rent or ten days of food.

Once the collection target is reached, the total will be divided by the number of recipients who requested the donation (maximum 100,000) and the money will be credited to their AirTM wallets. The amounts distributed will be denominated in the donated currency, i.e. in cryptocurrencies.

Venezuela is already the second country in the world for Bitcoin purchasing volumes on LocalBitcoins and this week has just recorded a new historical high, with a volume higher than 1,100 BTC, so the relationship between Venezuelans and crypto is far from conflicting: more and more Venezuelans buy and use them.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded, and his YouTube channel has more than 25 thousand subscribers.

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