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Cryptocurrency: revolutionizing the world of philanthropy

Electroneum’s mining reward system allows WONDER Foundation to receive funds to transform women and girls’ lives through education.

The ETN-Network joined WONDER as a partner in 2019 and has since raised over £40,000 in support of our partner projects in India and Nigeria. Together, we are working to make education more accessible for women and girls across the world.

What is cryptocurrency and blockchain? 

As a quick rundown, blockchain is essentially a digital ledger, recording various, non-specific money transactions that everyone can opt to view or even regulate. This technology is gaining popularity because it’s difficult to change, tamper with or hack. Cryptocurrency is a digital asset that is built on blockchain technology and inherits its security advantages. More specifically, cryptocurrency is the currency that is used in these recorded transactions.

WONDER raises funds by validating the Electroneum blockchain network in exchange for mining rewards. These rewards are monetary in the form of Electroneum cryptocurrency, ETN. In 2020, the ETN-Network also launched their donation platform ETN Donate, which allows WONDER Foundation to receive ETN from ETN users, which are then converted to funds used to support our partner projects.

How is does our corporate partnership transform the lives of young women?

Since partnering with ETN-Network, WONDER has seen an increase in donations. Between 2019 and 2020, WONDER received roughly £40,000 in blockchain mining rewards. These funds have been used to support women and girls in India and Nigeria.

In India, the ETN-Network has helped fund scholarships and mentorships for 100 women for three years. In Nigeria, ETN donations have been instrumental in supporting students and teachers at Wavecrest College of Hospitality to continue their teaching and learning during the COVID-19 pandemic.

We have provided internet data for 110 students as well as five laptops for teachers and twelve smartphones for students to continue their studies through an online platform. The donations not only provide students with access to virtual learning as a temporary measure but also valuable skills and knowledge in information technology to further support their education at Wavecrest College, as well as in future employment opportunities.

What’s next? 

The ETN-Network shares WONDER Foundation’s vision of improving the lives of marginalized women through education.

Through its partnership with WONDER, the ETN-Network aims to help provide young women and girls with quality education and close the global gender gap. By providing women with the financial resources for pursuing education and employment, WONDER is working to break the cycle of poverty and boost the livelihoods of young women as well as the greater community.

Blockchain technology has evolved into an invaluable fundraising tool for NGOs and it has unlocked a world of new possibilities for philanthropy. WONDER’s partnership with the ETN-Network continues to help women and girls across our partner organizations to become the agents of change in their communities.

To make an ETN donation to WONDER, please visit the ETN Donate platform.

If you are a business and would like to learn more about partnering with WONDER, please get in touch to speak to a member of the team at: engagement@wonderfoundation.org.uk

Author: Kenenna Chukwuma, volunteer at WONDER Foundation