In a press release, the Apache Software Foundation or ASF in short, announced that it is going to accept Bitcoin in donations. The all-volunteer developers, stewards, and incubators of more than 200 Open Source projects and initiatives, ASF came up with the latest decision to accept donations through the Bitcoin virtual monetary system has not surprised many though.
The company says that its decision to accept Bitcoin donations was in response to an email request it received on 26 August. A lot of Bitcoin supporters have been pressing the company to embrace the digital currency and within 48 hours of opening its Bitcoin wallet, more than 90 transactions reflecting 5.35915909 BTC i.e. more than US$2,600 were donated to it.
Talking to media professionals Upayavira, Vice President of Fundraising at the ASF said that accepting Bitcoin allows donors to The Apache Software Foundation the benefit of digital currency exchanges, no matter where they reside. Thus, a lot of donors who wanted to donate to the organization but could not due to location issues can now do so without any hassle.
He added that as a United States 501(c)(3) not-for-profit charitable organization, his organization welcomes donations of all amounts from our global community of users, developers, and enthusiasts. The decision to accept Bitcoin donation will give an additional choice for donors who wish to contribute with their digital currency.
The Organization Needs Money to Run Its Many Not for Profit Works
So far, the ASF has been receiving donations via check, electronically, through Amazon Payments and PayPal, etc. It also accepts vehicle donations with America’s Car Donation Charities Center; however, the latest decision to accept Bitcoin which offers flexibility for donors, particularly those in regions with local banking limitations is going to help it lot.
In the last couple of years, Bitcoin a peer-to-peer, digital token currency which operates on a distributed system of trust, using a cryptographically-verified, secure transaction ledger that is jointly maintained by the currency’s users, has become a popular payment option. Users like to pay in Bitcoin as there are almost nil transaction and processing fees.
The decision by the ASF which was established in 1999 is going to help the organization fund its activities efficiently as it would be able to fetch more donations than ever. As it provides support for the Apache community of open-source software projects, which provide software products for the public good, always needs money to run operations smoothly.
To contact the reporter of this story: Deepak Tiwari at email@example.com