GiveCrypto.org, the crypto charity mentioned by Armstrong, will be raising funds from cryptocurrency possessors, and distribute small payments to people who are in dire need all over the globe, all through cryptocurrency. First in the list to receive the funds are people who are in third world countries, especially those who are going through fiscal crises.
The said charity has three goals, namely: to help people who are in need by sending money to them directly; to advance real-world usage of cryptocurrency along with its benefits; finally, to provide universal access to an open financial system.
“I’m not alone [in this endeavor]. Many who invested early in cryptocurrencies understood it could make the financial system more efficient, lower fees, and reduce transaction times. We saw the potential to create more innovation, with a universal currency on the internet. And we realized it could bank the unbanked of the world — the billions of people who are locked out of the financial system and trapped in poverty as a result.”
He continued, saying that most of those he respects and knows in the crypto ecosystem believe that they have a responsibility to help this blockchain technology and cryptocurrency reach a wider audience.