As we sunset the 12 Days of Coinbase, we are thinking deeply about our role in building an open financial system. We do that by highlighting a variety of developments in crypto and impacting the future of blockchain development. That’s why our final announcement is about what crypto can do now, and our hopes for a more inclusive blockchain.
Throughout the , we’ve donated crypto to communities underserved by traditional finance. We’re culminating our campaign by donating $25,000 worth of Bitcoin to help more than 60 survivors of domestic violence on their path to independence and safety.
The donation directly supports survivors connected with , a non-profit that helps domestic abuse survivors achieve financial stability, reducing the chances they return to abusive homes. According to Sonia Passi, CEO of FreeFrom, 98% of domestic abuse also involves financial abuse, in which abusers control access to bank accounts and cash. Because of this, FreeFrom typically couldn’t provide cash assistance until after someone has already left their abuser. Cryptocurrency can change that.
With crypto, FreeFrom can better provide financial support to survivors still stuck in the cycle of active domestic abuse. Crypto isn’t just money for survivors, it’s money that only they can control with easy draw-down options and discreet access. For this population, the security of cryptocurrency literally could be lifesaving.
Building an open financial system requires connecting talented people with technical training. Borders–physical or economic–should never limit someone’s ability to shape the foundation of blockchain technology. Today, we’re also announcing educational funding to make the future of blockchain more inclusive.
Our funding will start off by supporting scholarships to cover the cost of completing . These scholarships will go to members of three organizations that are working to diversify technology, including:
, Afghanistan’s first coding school for women;
, an organization that provides mentorship and technical training to young people living in conflict zones in the Middle East, and;
, a networking organization for Latinx professionals in tech.
The future of blockchain will be brighter if people across the globe take part in building it. Last week, as part of the , we shared our vision for the . With this educational funding, we hope to be one step closer to making sure the future of finance is inclusive and empowers communities that other innovation waves may have left behind.
Dec 5, 2023
Dec 4, 2023
Americans’ #1 objection to using cash in the current financial system is that there are too many fees to access and move their money. Stablecoins offer consumers all the benefits of cash without the drawbacks, including being cheaper and faster to move.