Religious institutions rely on offerings and donations from the faithful to sustain their operations. Like other organizations, churches incur fixed and variable costs. Following the inflationary pressures and dwindling economic fortunes of the faithful, the Church has to diversify its sources of income to stay afloat. One way this can be achieved is by embracing Crypto.
The Roman Catholic Archdiocese of Washington DC is now at the forefront of accepting Crypto donations. The faithful in the vast diocese will be able to transfer Crypto from their private wallets to the Church’s wallet. The Church has partnered with, Engiven, a platform that supports Crypto donations.
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Crypto is Transforming the Concept of Donation
Countries such as Finland have set the way for Crypto donations by selling impounded Crypto to raise money for Ukraine. However, according to Joseph Gillmer, the Church now allows parishioners to support spreading the gospel in exciting ways. The Executive Director of Development in the Archdiocese of Washington adds that Crypto is advanced, ready to use, and offers flexibility for the faithful.
The archdiocese straddles the expansive Washington DC metro and includes over 300 parishes, schools, hospitals, and other church institutions.
The Crypto platform will enable users to donate Crypto to specific initiatives such as Community Food Security Program, Education, and more.
Catholics are Divided on Crypto
Religions such as Islam have a tough stance on Crypto because of the aspect of speculation of value. On the other hand, Catholics are divided, and the Vatican has not expressively stated its point of view according to the National Catholic Register.
Nonetheless, some Catholics believe that some Crypto investors have become wealthy at the expense of others. They then use the digital assets they did not work for in a developing country, perpetuating injustice. The author of Thank God for Bitcoin, J.M. Bush J.M., believes that Crypto is the better alternative for fiat money. A few people can manipulate the latter to the disadvantage of the rest of the population.
In the meantime, the Vatican is embracing the Web3 MetaVerse as an NFT gallery. Artworks by Raphael, Van Gogh, Michelangelo, Gauguin, and Picasso are now on Blockchain.
Besides churches and ministries, the platform also offers its services to organizations and nonprofits. Its clients include the Salvation Army, Saddleback Church, Samaritan’s Purse International Relief, Ronald McDonalds House Charities Southern Arizona, and more.
The platform is secured and insured and supports over 95 Cryptocurrencies which is among the highest in the Crypto Asset Service Providers (CASPs) industry. BTC, ZEC, DOGE, SOL, and more are included.