Feature Interview: Grantcoin and GrantMarket’s Vision for Social Good
Grantcoin is a cryptocurrency marketed as a “currency with a conscience.” Distributed by a non-profit organization, Grantcoin (GRT) is “given as grants to people and organizations that making the world a better place.” People can donate using the currency, and all donations are tax-deductible, and for a limited time, the Grantcoin Foundation will match any donations made.
On February 10, 2016, Grantcoin launched GrantMarket, a website where people can give micro-donations of Grantcoin to worthy recipients online. BTCMANAGER spoke to Eric Stetson and Brandon Venetta, Co-Founders of Grantcoin to find out more about the potential of” digital currency for social good.” Here is what they had to say.
On Grantcoin’s philosophy and mission statement
An Oxfam study recently revealed that 62 individuals own half the wealth in the world while billions of people live on less than $2 a day. This extreme inequality is caused, to a large degree, by the way that the fiat currency and banking system work. Grantcoin is an alternative cryptocurrency in which money is distributed into circulation as grants for social good by a transparent and democratically controlled non-profit organization. We believe that access to the money supply is a universal human right. Money should work in a way that is sustainable and encourages social and economic justice — lifting people and nations out of poverty, incentivizing environmental protection, and promoting equality of opportunity in the global economy. Grantcoin is working to make this vision a reality.
On what makes Grantcoin different
Grantcoin is not just a cryptocurrency charity; it is a charitable cryptocurrency. Grantcoin itself is designed to help solve the problems of global poverty and inequality by distributing the money supply according to a philanthropic mission. Grantcoin is the first cryptocurrency to be managed and distributed by a U.S. government recognized 501(c)(3) tax-exempt nonprofit organization. This means that when people in the United States donate to the Grantcoin Foundation, they can take a charitable deduction on their taxes. Donations to our organization back up the value of Grantcoin, so that when we give the currency as grants, the grants have real value. Furthermore, when you give to the Grantcoin Foundation, we will match your donation with Grantcoin to the charity of your choice.
On past, current and future Grantcoin projects
In early February, we launched GrantMarket, a website, and blog where we’ll write about charities, nonprofits, artists, socially responsible businesses and more. People can give microdonations of Grantcoin or Bitcoin to the worthy people and organizations that we profile on the site. Later this year, people will also be able to buy things with Grantcoin on GrantMarket. In March, the Grantcoin Foundation plans to launch a Universal Basic Income Grant program. Everyone who wishes to participate should be able to receive some Grantcoin on a regular basis — including the poor, who cannot afford to buy or mine it — so that Grantcoin can financially empower all the people of the world.
For more information about Grantcoin and GrantMarket, visit the Foundation’s website.