The Freedom of the Press Foundation (FPF) has expanded its donation methods to include five cryptocurrencies, calling the move a natural fit, the non-profit announced on Monday.
According to the organization’s executive director Trevor Timm, the funds will be used to support journalists covering different issues within governments.
Announcing the expanded methods of raising funds, Timm said that the organization will accept donations in Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Zcash. The organization has virtual wallets for direct donations but the ultimate goal is to use a payment processor which will automatically convert the virtual donations to fiat money.
Timm hailed the decentralized technology as having the capabilities to prevent censorship and unwarranted surveillance by different parties. The executive was categorical that the organization will benefit from the enhanced payment methods as it will mitigate the risks of financial censorship from different financial institutions and payment processors that enjoy almost near monopoly when it comes to fund transfers. Timm explained to CoinDesk:
If cryptocurrencies can lead to more awareness about anti-censorship, and also make it easier for potential supporters to support non-profits like Freedom of the Press Foundation, then I hope many other similar organizations follow suit in the coming months and years.
Enhanced Surveillance on Journalists
According to Timm, journalists are currently facing enhanced surveillance and arrests due to the kind of stories they cover. It is thus imperative that supporters of press freedom have numerous options to raise funds to support the journalists and fight back the increased surveillance and muzzling of the media. Timm explained,
We live in a time when journalists around the world have never been at greater risk of surveillance, arrest, or worse, and it’s incredibly important that supporters of press freedom have all the available options to them to fight back,
The efforts to accept crypto donations have already started to yield positive results, as blockchain venture Mainframe has already sent the first crypto donation of 1,000 ether (about $495,000) to the organization.
FPF is highly regarded in the world and already has big names like the NSA whistleblower Edward Snowden as vocal (and financial) supporters. The organization says it will use the donations to enhance its operations around the world with a promise of unearthing different governmental secrets that are important to the public. The organization also promises to recruit more journalists from various parts of the world to join its network and fight for more journalistic space and independence.
Do you think the move by the Freedom of the Press Foundation (FPF) will encourage more people and institutions to donate more funds? Should other not-for-profit organizations adopt crypto funding methods? Let us know in the comments section.