These Companies Are Using FinTech and Bitcoins to Change the World

If you got into business because of that image of Scrooge McDuck swimming in money, I may have some bad news for you: Those coins are being replaced by bitcoins.

 

 

Yes, bitcoins. Although in 2015 it appeared like the buzz around this currency was overdone and bitcoins were going to fall, they surged back and are once again on the market’s lips and stock picks.

The primary reason for their (re)emergence? China. This country is heavily invested in the area and most of the bitcoin trading is being done by large Chinese conglomerates like Huobi and OKCoin.

Although the phasing out of gold coin currency might be bad for Scrooge McDuck, it is excellent news for many non-profits who use the technology to easily amass donations.

WaterAid is a company that works to provide potable water to people living in areas where access is not guaranteed. Thanks to a partnership with BTCX, a Swedish bitcoin company, it is now easy for people to donate bitcoins to help their fight. Just by going to the BTCX webpage, people can easily donate bitcoins to the cause.

Hotelgo24.com is another institution using bitcoins to fund charity, although in a slightly different way: People who use the service to make bookings are rewarded with bitcoins—the reward amount is listed on the website at the bottom of the listing—and can choose to transfer these bitcoins to a charity organization (including WaterAid).

This seemingly simple act of making it easier to donate to charity is huge, as many people don’t believe they have the time or money to really make a difference. True, because of the conversion between $ and bitcoin you may not fully understand how much you are donating, but the money is still getting through and these organizations are doing good work with the bitcoins they receive.

It may still be a while yet before we see the end of real (paper and coin) money, but the movement to the FinTech world is not one to be feared. It brings with it so many advantages that will lead us to the day when we shake our heads and laugh at the thought that we used to have wallets full of bills and coins.

 

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