Warning: The Cryptocoin Charity Craze is Hiding Something
In the 11th century Pope Urban II issued the earliest known “Indulgence” — a document certifying that a petitioner’s good actions in life would shorten the required penance beyond the grave for offenses they had committed. In short — you were paying the church for forgiveness of your sins. These penances allowed the Catholic church to increase its treasury and relieve its believers of much guilt. It became a pretty robust market and shakedown frankly.
1000 years later we find ourselves in a similar moral quandary: many upstart cryptocurrencies compensate for lack of any real world use case by giving to charity.
The hype-coin scene has given birth to a new slate of exciting “investment” vehicles. Some of these have distinct utility and other can be categorized as “meme coins” — coins which require a following to remain alive. This trend has also seen a host of tokens dedicate funds to charitable giving as a means to garner praise and support — but also, we assume, to truly give back.
ElonGate, Orfano, Happy, Save Planet Earth, Yummy, Word of Waves… the list goes on. Some coins choose charity as a side project others marry the…
