PIVX, a community-driven cryptocurrency, today announced the launch of the PIVX Foundation from the United Nations headquarters in New York.
Leaders of the blockchain social impact community are convening for the second year in a row today to discuss how blockchain tech can forward the U.N.’s sustainable development goals (SDGs).
The PIVX Foundation aims to connect generous, innovation-focused philanthropists from the PIVX community to blockchain-focused impact projects for the U.N.’s sustainable development goals.
PIVX Global Ambassador and co-founder of the PIVX Foundation Dr. Bryan Doreian is a returning delegate of the Blockchain for Impact Summit, led by the U.N.’s Blockchain Sustainability Commission. Doreian will be sharing the PIVX Foundation launch with his fellow delegates during a series of roundtables and work sessions at the United Nations this afternoon.
The PIVX Foundation’s mission is to use innovation to create impact. An official registered charity, the Foundation acts as an extension of the PIVX community that focuses on providing financial, human and social capital to:
1) fuel blockchain education at leading international schools
2) grow cryptocurrency awareness and adoption in developing countries
3) developing blockchain tech that facilitates cross-border philanthropic giving and volunteerism.
Dr. Bryan Doreian (aka “Snappy”) is one of the catalysts who helped create the foundation to connect business development and global impact.
“The launch of the PIVX Foundation, an independent non-profit focused on supporting PIVX and the larger blockchain ecosystem, provides a massive opportunity for PIVX to grow. Donors can now leverage charitable contributions (charitable contributions can offset taxes they might otherwise be paying) – AND help support the PIVX ecosystem at the same time. This is a major win for community members who may have been donating to fund projects through PIVX in the past without a charity tax receipt.”
PIVX is a community-driven cryptocurrency that operates as a DAO (decentralized autonomous organization). This means that there is no CEO, no headquarters, no board of directors or legal entity. It is run by the people, for the people and the PIVX Foundation has been established in the same spirit.
When the monthly treasury budget doesn’t cover project needs, generous community members step up and donate several tens of thousands monthly. Now, these donors can fuel PIVX innovation and receive tax benefits for their gift.
The PIVX Foundation is currently 100% funded by generous community members who want to see the PIVX technology make an impact on a global scale, however, it is still under the governance of the PIVX community as a whole. In order to receive the budget to fund impact development programs, grant applications will need to run through the PIVX Proposal system and be voted on by the community to ensure the SDGs maintain top priority for all funded initiatives.
The first project funded by the PIVX Foundation is in partnership with Vendible and parent organization the SDG Impact Fund.
“Since the PIVX Foundation is a sub-component of the SDG Impact Fund, it is already taking part in leveraging its resources and insights to help build out some novel charitable donation platforms including the payment rails for the SDG Impact Fund and all affiliated charities to accept crypto donations,” says Dr. Bryan Doreian who is spearheading the project.
He’s aiming to create a payment processor with zero transaction fees so the project isn’t hit with the traditional 3-7% online charity processing costs.
]“All of this will be of incredible use for the philanthropic realms, as well as more tangibly align blockchain with charity, putting PIVX in the central focus. This, as many of us hold and know about the ethos of PIVX, is just an extension of that commitment to being of use for humanity.”
The entire PIVX Foundation is managed entirely in PIV (the symbol of PIVX currency), creating a full loop ecosystem where donors contribute in PIV and projects are funded in PIV.
PIVX leads as the first example of a cryptocurrency-fuelled foundation within the SDG Impact Fund, the only Donor Advised Fund partnered with the Foundation in Support of the United Nations (FSUN). The opportunity gives this formerly underground cryptocurrency community a spotlight at the UN as a leading impact technology.
The PIVX Foundation is a component fund of a Public Charity, The SDG Impact Fund, (Tax ID# 46-2368538).
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