OmiseGo in collaboration with Ethereum co-founder, Vitalik Buterin, donated $1 million in cryptocurrency to an East-Africa based charity called GiveDirectly.
GiveDirectly is a non-profit organization that operates in East Africa to help families living in extreme poverty by making unconditional cash transfers to them via mobile phones. The organization funds people living in Kenya, Rwanda and Uganda.
At present, Uganda is dealing with a fresh influx of asylum seekers from the Democratic Republic of Congo, that is, about 236271 refugees, who are feeling from inter-communal violence in the country’s volatile Ituri region. This has led to an emergency situation for asylum seekers in Uganda, which crossed the one million mark and became a host of the world’s fastest-growing refugee crisis last year, along with South Sudanese refugees. The rapidly increasing number of refugees has led to a reduction in food and income and in turn leading to poverty.
The donation of $1 million by OmiseGo and Vitalik Buterin is an experimental scheme aimed at providing 12,000 grants to families in Uganda.
OmiseGo focuses mainly on decentralization of banking and providing privileges to those parts of the world which are shut down from ready financial access.
Athea Allen, ecosystem growth lead at OmiseGo says,
“We have a strong desire to support GiveDirectly’s unconditional cash transfers on the OMG network in the future when it becomes possible.”
Ju Hasegawa, CEO of Omise says,
“We hope the fortunes made in the crypto space will lead not to an extravagant lifestyle but to extravagant generosity.”
Catherine Diao, Head of Communications of GiveDirectly says,
“While cash transfers have been used in humanitarian contexts before, this initiative is a significant departure from the status quo because we’re giving families transformative amounts of money versus small, subsistence amounts.”
Josh Kent, a cryptocurrency enthusiast says,
“This is a great move by Vitalik and OmiseGo. The crypto space will always be the first to change the way the world functions.”
Through this initiative, people will receive the cryptocurrency in the form of local currency thereby reducing the reliance on intermediaries.