A partnership between cryptocurrency platform, Luno, and a nonprofit organization, FoodForward SA is seeking to allow South Africans to make donations in cryptocurrency.
This development, according to the firm seeks to allow for transparency and accountability.
According to Luno, the use of Bitcoin in providing humanitarian assistance through the activities of FoodForward will allow for efficiency in the distribution of support to beneficiaries.
“Because Bitcoin transactions are public, you can be sure that the total amount of your donation goes to the cause. And the organization only has to pay the standard fee that the Bitcoin network charges. FoodForward SA gets all of the money given to them. FoodForward SA can help even more poor South Africans this way, “Christo de Wit, the South African country manager for Luno said.
On its part, Andy Du Plessis, the managing director of FoodForward SA said that the development will help in curtailing corruption while also lowering service fees.
“At FoodForward SA, we place a strong emphasis on both open communication and creative problem-solving in our business practices. Donors now can contribute to Bitcoin to support our efforts to ensure food security thanks to our partnership with Luno, the largest crypto platform in South Africa.
“The underlying technology stops corruption and lowers fees, which is essential for any non-profit organization,” he said.