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According to the founder of Airdrop Venezuela, the charity that aims to donate US$1 million worth of cryptocurrencies to Venezuelans, the nonprofit has registered 60,000 beneficiaries and raised $292,000 in donations so far. Moreover, bitcoin cash (BCH) has led the pack as far as the most donations are concerned with roughly 670 BCH ($194,900) gifted to date.

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During the end of 2018, a cryptocurrency fundraiser was initiated to help citizens of the crisis-stricken South American nation of Venezuela. The charitable effort, dubbed Airdrop Venezuela, was created by the digital currency startup Airtm, a nonprofit that aims to raise $1 million in digital assets for Venezuelans. The leader of the campaign, economics professor Steve Hanke, announced during an interview on April 21 that the project has more than 60,000 registered beneficiaries and has raised $292,000 since the launch.

The humanitarian aid campaign hopes to onboard Venezuelans into the world of cryptocurrencies. The Airdrop Venezuela project started on Nov. 27, 2018, and has continued to raise money for Venezuelans in need for the last few months. Hanke explained this past weekend that the main reason for the venture is to provide citizens with economic freedom.

“There’s really no particular political motivation. It’s just to help people to give them some purchasing power — The money comes from private donations,” Hanke explained during his interview. The economist added:

[Airdrop Venezuela] will be a demonstration of how relief agencies all around the world can easily deliver aid and relief to people in need.

The beneficiaries of the fundraiser will be a total of 100,000 ID-authenticated Venezuelans and the funds donated, no matter which cryptocurrencies they are, can be quickly converted to dollars. Since the crowdfunding started, donors have been able to send bitcoin cash, airtm, ethereum, litecoin, bitcoin core, zcash, dash, dai, komodo, and a few other coins. During his discussion, Hanke said the method used to fundraise eliminates inefficient donation schemes like “driving a pickup truck around filled with cash that you’re giving away or filled with medicine or clothing or food.” Hanke revealed that beneficiaries can simply use the Airtm platform to exchange the cryptos for U.S. dollars and use the proceeds to buy food, medicine, and other necessary supplies.

“When the currency in your country is literally melting in your hand and — knowing that, the key is getting people hard currency that they can actually use to purchase something — So that was the general attraction,” Hanke stressed. “And the technology of using this internet platform is just what the doctor ordered.”

According to the Airdrop Venezuela website, the most donated cryptocurrency by far is bitcoin cash (BCH). In addition to 670 BCH donated, other leading cryptocurrency donations include airtm, bitcoin core, zcash, dai, and ethereum. When the project distributes the funds to registered Venezuelans, the cryptos will be donated on a weekly basis to recipient Airtm wallets. Hanke noted this method of donating funds is not only more efficient but a “very safe way” to distribute money to individuals who need it most.

What do you think about the Airdrop Venezuela project’s accomplishments? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Pixabay, Airdrop Venezuela, and Steve Hanke.

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