Hurricane Milton marched across central Florida after making landfall on the state’s west coast hours earlier, whipping up deadly tornadoes, destroying homes and knocking out power to nearly 2 million customers. A handful of Republican leaders have condemned hurricane misinformation spread by their own party. Meanwhile, we look into whether Bitcoin and crpto donations can actually help in these situations. Let’s dive right in.
Yes, Bitcoin and cryptocurrency donations can indeed play a significant role in helping Floridians as they face natural disasters. Web3 and fintech platforms have proven to be useful for facilitating donations, especially in urgent situations like hurricanes. Cryptocurrency donations can offer advantages such as fast, borderless transfers and lower transaction fees compared to traditional financial systems, making it easier for international donors to contribute directly to relief efforts.
Historically, Florida has seen crypto donations during past crises, such as Hurricane Ian in 2022, where nonprofits like Convoy of Hope accepted crypto contributions to support disaster recovery. These donations are also often more tax-efficient for donors, which encourages contributions. During emergencies, fast access to funds can be critical, and crypto platforms can offer that speed and flexibility
Moreover, blockchain-based platforms are also being explored to enhance disaster response systems. For example, systems using blockchain technology like Hyperledger and Ethereum have been proposed for managing data in disaster scenarios, enabling better coordination between insurers, government agencies, and other stakeholders
Although crypto donations may not yet be as widespread as traditional methods, their use is growing, and they can complement more conventional relief funds, like the Florida Disaster Fund, activated by the state for recent disasters(
FLGov).
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Omar Faridi