The Peoples’ Alternative Choice Coin ($Pac Coin), a cryptocurrency company is airdropping $5 every day to Venezuelan refugees to help them cater for themselves. $Pac Coin said their aim is to bring about mass adoption of the virtual currency. This is by actively engaging in charities where people can be educated about this digital asset through its real-life application.
Cryptocurrency Funds Charity projects
$Pac’s charity is called Community Chosen Charitable Trust. Here, the community votes on a weekly basis on which charity they will like to see funds sent to. Based on the charity with the highest number of votes, the company then funds it. So far, $Pac Coin has sent funds to less privileged children in India as well as those living with cancer in Venezuela.
Robin Matthes, Director of $Pac coin’s Charity said, to encourage the widespread use of cryptocurrency, the product has to earn the people’s trust. Therefore, they are educating Venezuelans on how to use its digital asset while also learning how the local community works. This is made possible by setting up charity initiatives to reach out to these people.
Cryptocurrency Company Donates to Refugees
Robin Matthes also revealed that while they focus on other regions as well, their priority at the moment is on refugees living in Venezuela. According to the Director, 50,000 refugees cross a bridge every day in Cucuta, a Colombian city. These are people that find it difficult to cater for their daily needs. As such, the company airdrops $5 on a daily basis to them.
But first, these people have to partake in a quiz after they have been taught about Blockchain technology. Their ability to get all the answers correct on the first test or after retrials earns them the cryptocurrency. They can then use it to make purchases from a merchant in the area who accepts $Pac Coin.
Venezuelan Currency is Declining in Value
The Director also said the Venezuelan currency is declining in value in comparison to the monopoly money. Therefore, to help improve the economy, $Pac Coin is teaching these people how to grow mushrooms. These are crops that are fully grown within 25 days and as such, they can yield profit within a short period.
In regards to that, workshops have been set up where refugees can grow these crops. As a result, they will be able to make ends meet for themselves. In the company’s opinion, instead of giving them only fish, they are also taught how to fish. This will be more beneficial to them in the long run.