US Foundation to Use Cryptocurrency in the Fight Against Amazon Deforestation

A New York based non-profit NGO is now extending its reach to parts of South and Central America, in a bid to use cryptocurrency and blockchain technology to fight against deforestation and forest fires in the Amazon forest. According to a publication on the official website of the Rainforest Foundation U.S., the organization is “calling out to members of the cryptocurrency community” for support.

The NGO further places some blame on the current Brazilian administration, suggesting that deforestation got worse under the regime:

“Since Bolsonaro took office in January, deforestation in the Brazilian Amazon is up 75% and forest fires in the Brazilian Amazon have doubled compared to the past year. As guardians of our rainforests, its animals and its people, we are working with The Giving Block to form a coalition of crypto sponsors, donors and media partners who will help stop this devastation.”

The post further mentions a “blockchain transparency pilot program which will allow all interested participants to easily track the progress of all the efforts being carried out in the Amazon Rainforest. Furthermore, Rainforest Foundation U.S.  is looking to use crypto as a reward system for local communities who are as committed as they are, about protecting their forests.

The foundation is accepting donations in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). On why the foundation is specifically asking for cryptocurrency donations, the publication says:

“In the United States, and many other jurisdictions, cryptocurrencies are classified as property for tax purposes (like stocks). This means that when you donate appreciated crypto directly to a nonprofit, you don’t owe capital gains on these earnings, and neither does the nonprofit. You can donate more, and pay less in taxes. It’s that simple.”

Image Credits: Stock Photo Secrets

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