In a move that blends innovation with philanthropy, the American Cancer Society (ACS) has embraced web3 technology by partnering with Gitcoin, a leading figure in open-source funding, according to a statement shared with CryptoSlate.
This strategic collaboration signifies a milestone for the ACS as it steps into the decentralized world of web3, leveraging Gitcoin’s expertise to drive its ACS Cares program and the Crisis Response Fund.
The ACS round, distinct and independent from the regular seasonal Gitcoin Grants program, is designed to benefit the ACS Cares program and the Crisis Response Fund directly. This initiative is crucial, as donations will be channeled towards groundbreaking cancer research, advancing health equity initiatives, and bolstering patient support programs.
Additionally, it will aid in providing essential lodging for cancer patients undergoing treatment. This venture represents a crucial intersection of technology and philanthropy, where blockchain’s potential is harnessed for impactful healthcare outcomes.
The initiative represents a continued interest in decentralized open-source funding by a renowned non-profit organization utilizing Gitcoin technology. The first instance was a significant QF collaboration pilot with UNICEF in 2022.
Gitcoin and decentralized funding.
The significance of Gitcoin in the realm of open-source funding cannot be overstated. Since its inception, Gitcoin has played a pivotal role in the web3 ecosystem, mainly through its utilization of Quadratic Funding (QF). This innovative funding mechanism has enabled Gitcoin to disperse over $50 million across more than 100 rounds, empowering organizations like UNICEF and now the ACS in their mission-driven endeavors.
QF is central to Gitcoin’s strategy, a crowdfunding approach that values the number of contributors over the total donation amount. This method fosters widespread community involvement and ensures equitable allocation of funds to projects that resonate most with…
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