Bitcoin adoption rising in NGO sector: Report

A new report by Nonprofit Tech for Good suggests that cryptocurrencies are quickly gaining ground as a way of donating funds. 

The 2019 Global NGO Technology Report, published last month, polled 5,721 NGOs and charities in 160 countries. 

It found that, since last year’s study, the number of organizations that accept cryptocurrency donations has increased by up to 100 percent.

But the numbers are still small. While the number of charities accepting crypto donations has doubled in North America, Europe and Australia, cryptocurrencies still form only 2 percent of total donations. 

Africa has the largest amount of NGOs accepting crypto with 5 percent, Asia follows with 4 percent, while Latin America trails with 1 percent.

The report signals that NGOs throughout the world are waking up to the fact that cryptocurrencies present major opportunities, as well as challenges for their sector. But they suffer from a poor understanding of both how the technology works and how it can…