Environmental-friendly, ecological, and donating cryptocurrencies
While categorizing crypto projects for Researchly, I have come across a range of interesting observations in regards to crypto projects. One observation is the prevalence of environmental-friendly, ecological, and donating coins and projects.
There are quite a few coins that market themselves with some touch of being environmentally friendly, having a positive impact on society, or generally built with „good intentions“ in mind. Examples include EverGreenCoin, Burst, and FairCoin.
Such cryptocurrencies take environmental-friendly actions in one way or another. EverGreenCoin is one example
The EverGreenCoin describes itself as a currency that takes care of the environment “by helping to raise funds for environmental green projects“.
See environmental friendly currency for more tokens from this category.
Ecological cryptocurrencies are similarly coins that try to be environmental-friendly, but they are trying it through operational effectiveness. Examples include FairCoin and Burst.
Among other things, FairCoin describes itself as an ecological coin with „very low power consumption for transaction control“ and ethical as it „supports fair business values“.
According to Burst, they are “The Linux of Blockchain“ and distinguish themselves, among other things, by being energy efficient as “Burst is mined with low power hard drives instead of energy hungry CPUs, GPUs and ASICs“.
Donating cryptocurrencies donate a certain amount of their tokens to charities. Examples include BunnyCoin and PinkCoin.
BunnyCoin’s tagline reads as “AN INNOVATIVE NEW CRYPTOCURRENCY DESIGNED TO SPREAD LOVE, PEACE, HAPPINESS AND ECONOMIC FREEDOM WORLDWIDE“ (including caps lock). They try to live up to this mantra by donating 10% of minted coins to selected charities. Related to this is PinkCoin.
PinCoin is a platform where a certain amount of staked coins is automatically donated to selected charities.
UNICEF’s The Hopepage
Similarly, UNICEF with their „The Hopepage“ is using people’s PC’s computing power to generate donations by mining coins.
Conclusions from Green, ethical, and social cryptocurrencies
Regardless of how serious these projects are and whether they will succeed they lead to a few conclusions.
Cryptocurrencies for donations — regardless which kind
A blockchain’s publicity and immutability are well suited for donations because — provided payments stay on-chain — payment flows are fully transparent. This allows each donor to exactly analyze the use of her donations. Moreover, in addition to the above-mentioned donating cryptocurrencies that collect money for charities, cryptocurrencies are in general frequently used for personal donations. One example are bloggers who share their public keys to receive donations for their publications. Interestingly, it seems that this has become one of the cryptocurrencies’ killer apps that barely get noticed.
Cryptocurrencies for serving the unserved
The above-mentioned donating cryptocurrencies serve financially unserved people. Besides that, “serving the unserved” is, in general, a frequent blockchain use case, naturally enabled by its technical nature. In addition to the financially unserved, are “banking unserved” people („unbanked“), i.e. people without access to banking infrastructure. One example is Stellar which offers, among other things, “Services for the underbanked”. (Disclaimer: I own lumens, Stellar’s token).