Announcing the Nakamoto Fund
Today it’s a pleasure to announce the Nakamoto Fund is live. The fund helps people in a completely transparent way using bitcoin and the blockchain.
How it works
100% of all receipts donated to the fund go directly to recipients. Also, as each recipient is selected, we share their stories as well as their personal bitcoin addresses so others can help too. Through this process, people can be helped long after, without the Nakamoto Fund being involved or handling any money. This allows donations to go directly to recipients in its purest form — one person directly helping another. It’s a shame in this day and age, that stories are heard so often about large amounts of money being donated, only to hear that very small percentages actually reach the people they were intended for, due to organizational overhead, or even worse, selfishness, greed or corruption. We hope our efforts with the Nakamoto Fund help catalyze a change toward a model others are also adopting that will become the basis for all forms of charitable giving in the future — one person directly helping another.
When I first got into bitcoin, years ago, I was drawn by the freedom and independence that it offered its users. I could have a bank account in my pocket. Any bitcoin user could be his or her own bank. In years prior I had seen the 2007 subprime mortgage crisis in the United States — how toxic CDOs, mortgage backed securities and other debt instruments lead to the insolvency of financial institutions like Bear Stearns, Lehman Brothers, Washington Mutual, and many state and regional banks. These insolvencies lead to the printing of hundreds of millions of dollars and quantitative easing programs, that arguably could be said to have made everyone’s money worth less. Why should something we’ve worked for become worth less, because of bad decisions that people we don’t even know made in an office or board room? The financial problems that originated in the United States in 2007 have since spread to many other countries. The nonperforming loans placed into financial instruments were sold by European banks, to European governments. As a result, we’ve seen huge economic problems in countries like Cyprus and Greece, with others in tow, followed by the same process of printing more money that falls on the backs of those who have done nothing wrong. Austerity programs have delivered serious financial hardships to millions of people. These events are part of what fuel me to work in the Bitcoin space. Over the years I’ve contributed to several projects, like Bitcoin.org, Bitcoin Core and Mastering Bitcoin, in addition to working with companies like 21, Blockchain, BitPesa and Canaan Creative to name a few. Each day I see the news and think about different people who need help. Each week and passing month it seems to get worse. I wonder what would happen if people came together and used bitcoin to help. Would it make a difference?
I think it would.
Let’s find out.
Let’s find some people together that we can help.
Please join our community if you have questions or want to take part.