Unicoin
The two organizations have created Unicoin, a cryptocurrency that draws its power from children's unicorn drawings.
Getting Children Into Giving
Young children around the globe are encouraged to draw and submit drawings of unicorns, along with a few lines that sum up their plans when they grow up. The drawings are uploaded to the foundation's website, which in turn donates one notebook and pencil to a child in need.
The initiative has been praised as a great way to integrate digital currencies into charitable giving, as well as a good introduction to philanthropy for young children.
Charities Using Cryptocurrencies
Still Some Risks
The low transaction cost associated with bitcoin has been a major draw for charitable organizations, as the total amount a user donates goes directly toward the cause.
However, critics say that bitcoin's volatility cancels out that benefit, as charities have to quickly change the donations into another currency to avoid major price swings.
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