The Roman Catholic Archdiocese of Washington, DC, is expanding its ministry and support for 139 parishes and regional initiatives to help those in need by accepting donations in cryptocurrency. These donations will be facilitated through Engiven, an enterprise donation platform that uses blockchain technology to enable non-profits to receive cryptocurrency donations. Engiven has already helped more than 400 faith-based groups to accept crypto donations, including a $10 million Bitcoin donation, the largest single BTC donation ever recorded.
Archdiocese of Washington introduces cryptocurrency donations
Joseph Gillmer, the Executive Director of Development in the Archdiocese of Washington, noted that introducing cryptocurrency donations is intended to increase their ability to engage with parishioners and enable them to fulfill their mission better. Engiven’s cryptocurrency donation platform will be instrumental in this process, allowing donors to donate digital assets such as Bitcoin to over 300 parishes, schools, and ministries in the Washington D.C. area — while enabling anonymous donations from individuals across the globe. Despite this being part of a broader trend of acceptance of blockchain and cryptocurrency use within non-governmental organizations, the Vatican has yet to issue clear guidance on the matter or officially acknowledge their usage.
In November 2022, the inaugural Catholic Crypto Conference was held in Valley Forge, Pennsylvania. It brought together over 250 participants from diverse backgrounds, including theologians, philosophers, cryptocurrency advocates, and financial services professionals, to discuss and advance the relationship between Catholicism and cryptocurrencies. In addition, the conference explored the potential opportunities and risks associated with crypto-assets and how the Catholic Church should view blockchain technology and its use beyond the financial industry, such as securely storing parish documentation.
Blockchain technology is an immutable, distributed ledger that can precisely store and track assets such as coins, documents, or artifacts according to their origin. However, this could provide safe storage for parish funds or documents, helping to prevent fraud by maintaining accurate records of who accessed them and when.
In 2019, Pope Francis said, “a better world is possible through technology if it is accompanied by ethics and guided by a vision of the common good.” His sentiment emphasizes how technological advancement can be beneficial as long as it advances public welfare.
While the Roman Catholic Archdiocese of Washington is currently embracing technological developments and cryptocurrencies, the United States is cracking down on crypto companies. The U.S. Securities and Exchange Commission (SEC) recently issued a Wells Notice to Paxos, which issues the BUSD stablecoin, claiming it is an unregistered security.
Source: https://www.cryptopolitan.com/roman-catholic-archdiocese-washignton-engiven-crypto-donations/