Kylon Strengthens the Beneficial Relationship Between Crypto and Donations
Charities and nonprofits are more accessible than ever before. Nonprofits around the world that run projects in health, education, and more, and target people who don’t have access to certain services, need the help of charitable people of all ages.
Crypto donations have become much more popular now, especially with the Ukrainian State sharing their crypto wallet addresses on social media to continue their humanitarian activities during the war. Over $300 million in cryptocurrencies were donated to charities and nonprofits in 2021, and that amount continues to rise in 2022. There are many reasons why people are turning to donating with cryptocurrency instead of traditional methods.
The Useful Relationship Between Crypto and Donations
Nonprofits are rapidly adopting cryptocurrencies. By accepting payments with cryptocurrencies, these organizations can diversify both their donor base and income. Cryptocurrency investors know how many people in the world do not have access to very basic necessities because they have quick access to global news and keep up with new technology. This makes them both socially responsive and charitable. In 2020, 45% of cryptocurrency investors donated at least $1,000 to nonprofits.
According to Nonprofit Times and Lending Tree’s 2021 reports, the average cash donation is $574, while the average crypto donation is $10,455, almost 19 times that.
Crypto Donations Are Also Changing Donor Demographics
On the other hand, it may surprise you that the average age of people who donate to charities using traditional methods is 64. In other words, these institutions generally aim to appeal to the elderly audience and collect their donations. We mentioned that crypto investors are more willing to donate to charities, and it is known that 43% of US men between the ages of 18 and 29 invest in crypto.
With a total cryptocurrency market cap of $890 billion, charities that accept cryptocurrency donations aim to get the most out of this industry. The average crypto owner earns $111,000 a year, making it accessible to a younger audience who can donate.
What is Kylon Foundation?
Kylon is a social impact project that aims to use all the innovations and developed blockchain-based applications of Web3 for the benefit of the community and everyone who needs it. A portion of the supply of $KYLN, the native token of the project, was voluntarily donated to be delivered to those in need.
Kylon has made it its mission to play an active role in the field of social responsibility. The project, which was developed to create the largest donation system in this sector and to become the world’s largest crypto charity, by using the advantages offered by blockchain technology, wants to be among the elite projects in the crypto world.
Kylon Foundation’s mission is to develop lasting solutions for those in need by partnering with NGOs and voluntarily taking part in social responsibility projects. The ecosystem will encourage crypto investors to help anyone in need of any basic thing across seven categories worldwide. A functional, reliable and transparent donation system will seek to transform investors of all levels into charitable, donors individuals. The collected donations will also be donated to social responsibility projects selected by popular vote.
7 Aid Subject Categories
The Kylon Foundation divides its charity into 7 different categories to use donations and fees effectively. These categories are listed as follows:
- Health
- Children
- Education
- Environment
- Natural disasters
- Homeless
- Refugees
Health: Poor countries have great difficulty both in accessing safe food and drinking water, and in accessing medicines and treatments. Many of these countries also have a very serious shortage of doctors. Kylon aims to deliver the necessary treatments and medicines to these countries for the healing and prevention of diseases.
Children: In collaboration with Caritas and the Red Cross, Kylon believes that all children in the world have the right to be healthy, get an education and be protected. Your donations are very important for all children to grow up under equal conditions and be protected for a better future.
Education: Almost all of the underdeveloped countries are faced with the lack of classrooms, the inability to integrate children into education, the inability to send girls to school, the inadequacy of educational materials, the lack of teachers and many more. Kylon aims to provide equal educational opportunities for all.
Environment: Urban sprawl, solid waste pollution, deforestation, ozone depletion, marine and coastal pollution, erosion and the ensuing climate crisis are all global environmental problems caused by human impacts. It is thought that the diseases caused by climate change will cause the death of hundreds of thousands of people.
Natural Disasters: The vast majority of people living in low-income countries are still vulnerable to the ill effects of natural disasters. Kylon supports taking measures against natural disasters by improving life in these countries.
Homeless: According to the UN’s UN-Habitat programme, an estimated 100 million people worldwide do not have a home and live in conditions detrimental to their safety, health and well-being. By leading a global movement, Kylon aims to create a world that offers opportunities for autonomy and security to people living on the street.
Refugees: Kylon aims to work with crypto donors to provide opportunities for refugees who find it difficult to access even basic needs such as personal safety, food, clean water, shelter and health.
Kylon’s Use of Crypto Solutions to Donation Problems
Cryptocurrencies are based on blockchains, the best use case of distributed ledger technology. This ensures that all transactions with cryptocurrencies can be tracked transparently. You no longer have to trust charities unconditionally, you can simply see how Kylon uses your donations.
When transferring cryptocurrencies from one wallet to another, it does not need any middleman, central bank approval or procedure. This way, you can easily donate to Kylon wherever you are in the world.
They work with blockchain projects, advanced protocols, smart contracts, and DAO. This allows the Kylon community to have a say in deciding anything relevant to the ecosystem.
Kylon’s Goals
Kylon aims to be the most used Web3-based aid project by using all the possibilities of blockchain technology. Aiming to gather the advantages of the blockchain, such as NFTs, DeFi, and digital payment systems, on a single platform, Kylon aims to provide the best experience for people in need.
Kylon is a project that it currently has partnerships with and that keeps its door open for future collaborations that will benefit its products. The final result is to reach more and more people in need and to have a more positive impact on their lives. The crypto world will now have more space in the field of social responsibility thanks to Kylon.
Sources:
https://www.thenonprofittimes.com/technology/crypto-donations-skyrocketed-in-2021/
https://www.lendingtree.com/debt-consolidation/charitable-donations-survey-study/
