Crypto community leads in sustaining vital support to Ukraine humanitarian efforts

• New solution launched to sustain donations for charities in Ukraine
• Launch follows crypto donations skyrocketing by 1,500% in 2021 
• Launch is accompanied by a 500,000 ADA donation from Cardano builders, Input Output Global

 A new initiative has been launched to ensure sustained donations and support for the Ukraine crisis by building on the significant rise in global charitable donations from the cryptocurrency community. 

The project, created by the leading research and development company behind Cardano, Input Output Global, and leading Crypto philanthropy platform, The Giving Block, allows Cardano (ADA) holders to give their tokens to organizations participating in the Ukraine Emergency Response Fund, supporting humanitarian relief in the area.

The initiative is designed to draw attention to the continued humanitarian crisis in Ukraine  as the war falls down the news agenda, ensuring that much needed aid still reaches organizations working on the ground. The Ukraine Emergency Response Fund is an Impact Index Fund that allows crypto donors to donate to numerous organizations that are helping with the humanitarian crisis, including Save the Children, the International Medical Corps, Forgotten Children and many more. 

As part of the initiative, IOG has also donated $250,000 worth of ADA to the Ukraine Emergency Response Fund, which will be shared amongst multiple charities. 

Crypto donations to charitable causes have skyrocketed in recent times, with The Giving Block seeing an over 1,500% rise in donations in 2021 ($69.6m) compared to 2020 ($4.2m). At the same time, the average cryptocurrency donation was $10,445 in 2021, 82 times higher than the average online cash donation.

Harnessing blockchain technology and crypto donations can provide a range of benefits to charities and those they are helping. The technology allows displaced people to retain their identity and personal information, while also giving them access to savings and a transferable currency when they may not be able to access funds or resources through traditional means such as banks.

Charles Hoskinson, CEO of IOG, said: “The power of blockchain and the crypto community to do good in the world shouldn’t be underestimated. Through this initiative, we are all able to provide charities with access to new sources of income which will go a long way to help the people of Ukraine in these incredibly difficult times. 

“We have been to the Polish-Ukrainian border and seen first-hand the fantastic work all the charities are doing to help people affected by the ongoing war and I’m proud that now, through The Giving Block, we can do even more to help them continue to provide humanitarian relief. This doesn’t just apply to the work going on in Ukraine, but can be embraced by charitable causes going on all over the world, ensuring more money reaches those who need it faster.”

Pat Duffy, Co-Founder of The Giving Block, said: 

"We want to thank the entire team at Input Output Global for their generous donation of 500,000 ADA to our Ukraine Emergency Response Fund. This donation will be split amongst eight organizations and help thousands of people on the ground in Ukraine by providing life changing resources. Crises across the globe often require continued attention beyond early headlines and we are thankful for the crypto community's dedication to assisting those affected.”

Ettore Rossetti, Lead Advisor of Digital/Marketing/Innovation at Save the Children, said: 

“Save the Children has supported children and families in Ukraine since 2014 and scaled up services in response to the escalation of violence earlier this year. We will continue working alongside local partners distributing food, water, hygiene items, psychosocial support and cash assistance to children and their families in dire need in Ukraine and the surrounding region. Save the Children is grateful for the generosity and technology of Input Output Global and the collaboration with The Giving Block. We are proud to be part of the Ukraine Emergency Response Fund and one of The Giving Block’s first clients since 2019.”

Watch a video of the Input Output Global team’s visit to the Ukraine-Poland boarder to shine a light on the efforts being done to support those in need: