Coinbase came up with the 12 days of Coinbase, where each day is dedicated to announcements in relation to new features, support for cryptocurrencies and good deeds.
Today, December 11, 2018 is the second day of the crypto exchanges’ efforts and it has been revealed that on this day the Coinbase team donated Zcash amounting to $10,000 to over 50 Venezuelan families.
The donation was supposedly made through CEO, Brian Armstrong’s GiveCrypto.org, which is known to connect parts of the world that is lacking in access to cross-border payment systems. It was further noted that the $10,000 will be distributed through GiveCrypto.org’s project which targets Santa Elena de Uairen, Venezuela.
On Day 2 of 12 Days of Coinbase, we want to highlight incredible work being done by @GiveCrypto distributing crypto to families in need. In support, we’re donating $10,000 in $ZEC to their project in Venezuela. https://t.co/tfYVzh0UVM pic.twitter.com/yjCP5jHZKl
— Coinbase (@coinbase) December 11, 2018
In addition to the $10,000, the charity firm will also add $1USD to each of the over 50 families in Santa Elena for 3 months on a daily basis. This means families can get purchase food and basic necessities. As for the reason why cryptos were chosen as a mean of donation, the Coinbase team noted that countries like Venezuela – who’s been hit with a financial crisis – don’t always have access to reliable financial institutions!
Coinbase’s effort is clearly praiseworthy considering the differences they are making within the crypto sphere, while ensuring that those who don’t have access to basic commodities are taken care of.
To follow on what’s to come for Day 3 of 12 Days of Coinbase, go to: https://www.coinbase.com/12-days?utm_medium=blog&utm_source=medium&utm_campaign=12-days