Who Needs GoFundMe If You Have Crypto? Millions of Canadians Move to Decentralized Cryptocurrencies
Canadian truckers protesting the strict lockdowns are turning to crypto after being censored from the centralized, fiat-based donation platform GoFundMe. Many crypto enthusiasts are calling GoFundMe’s decision a great advertisement for cryptocurrencies. But what exactly happened, and why is it good for Bitcoin and crypto?
Everyone knows that cryptocurrencies can be very profitable, but the focus on profit can sometimes make us forget about other benefits of crypto. Now, millions of people have a chance to learn that the main advantage of cryptocurrencies is the fact that they are decentralized, open, inclusive, uncensorable and truly democratic.
For the past couple weeks, Canadian truckers have been exercising their human right to peaceful protest. The “Freedom Convoy” has become famous around the entire world, and gained massive global support.
However, not everyone was happy with this peaceful protest. GoFundMe, a US-based crowdfunding platform, has decided to pull the plug on the “Freedom Convoy Campaign” donation. Originally, GoFundMe didn’t even intend to reimburse all donors without a special request, but after a tremendous backlash, the platform decided to refund the campaign supporters automatically.
The campaign was massively successful before it was taken down. It managed to gain over $9 million in funding, which makes it the 5th largest campaign in GoFundMe’s history.
Crypto enthusiasts believe that GoFundMe’s decision to censor the “Freedom Convoy Campaign” might be a breakthrough for crypto adoption not only in Canada, but around the world as well. But how exactly is that possible?
After being censored by GoFundMe, a new crowdfunding campaign for the Freedom Convoy was launched on the decentralized, Bitcoin-based platform Tallycoin. The campaign page states specifically that cryptocurrencies are ”a truly censorship resistant method of communicating value” and they “cannot be politicized and clamped down upon”.
The decentralized crowdfunding campaign managed to quickly gather bitcoins worth over $370,000. Thousands of crypto owners from around the world have participated so far, with the single largest donation of more than 2 BTC — over $80,000!
So far, the rate of cryptocurrency adoption in Canada was rather underwhelming. Depending on estimates, only between 5% and 17% of the Canadian population owns crypto. Now, this situation might improve quickly as millions of people are learning first handed about how useful cryptocurrencies can be.
Cryptocurrencies are widely known as an excellent hedge against inflation, but they are also open, inclusive and truly democratic. Crypto welcomes everyone, and doesn’t exclude anybody. Because of that, crypto can be a great tool that empowers communities to stand up for their human rights.
As crypto is getting more popular and more significant than ever, it’s extremely important to educate people about cryptocurrencies and blockchain technology in an accessible way. That’s why Grand Time was designed specifically with crypto newcomers in mind — it’s a beginner-friendly cryptocurrency platform which helps millions of people get into crypto by proving that blockchain doesn’t have to be complicated!
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