KryptoPal, a blockchain technology company, announced they are opening up a cryptocurrency donation channel for help2kids, a Swiss NGO helping children in Tanzania and Malawi gain access to education, food, and healthcare – paving the way for global charities to do the same.
The KryptoPal token sale begins on August 18th.
“We’re very excited about this year-long pilot program that we will be conducting with help2kids because not only will it enable people across the world to donate and improve the lives of children in Africa, but by also using cryptocurrency the flow of the financial transactions is transparent until the actual usage of the funds on site in Africa” said Venkat Nallapati, Founder and CEO of KryptoPal.
There are currently 750 children in Tanzania’s capital city Dar es Salaam being provided for via the help2kids network.
One of the charity’s notable initiatives is providing quality education support for 440 students in Bajeviro Primary School located in Mbezi Beach, a suburb in Dar es Salaam.
While primary school education is often free in Tanzania, the cost of mandatory school uniforms and supplies often make it impossible for children from impoverished families to receive an education.
“I think this new cryptocurrency donation channel will be a great additional help for us to raise funds in our priority areas, especially when it comes to providing healthcare services and nutritious food to children in need. Every child should have a fair opportunity to education and we want them to focus on learning without facing obstacles like hunger and illness,” said Harriet Smith, an on-the-ground Field Manager for help2kids in Dar es Salaam.
As part of this program, KryptoPal will set up a public key and obtain Know Your Customer (KYC) information for each help2kids project, in addition to conducting full background checks for the initiative.
KryptoPal will also integrate its software development kit (SDK) into help2kid’s website to enable the charity to accept donations in cryptocurrency, which will be traceable and kept safe with top-notch security.
“We hope to offer help2kids a framework to accept cryptocurrencies that will pave the way for other large international charities to follow,” said Nallapati.
“We hope KryptoPal’s solution can help more nonprofits like us easily access the funds we receive, and distribute them in an efficient matter. I think this solution can effectively reduce our overhead costs by
10 percent, which allows us to send 90 percent of our donations to the children in need,” said Frank Hakenjos, President & Founder, help2Kids.
The goal at the end of the pilot is to expand the program into other continents, primarily to Asia and South America.
