Stacks Foundation Jumpstarts New Program Providing Financial Relief for Women in Afghanistan

by Claire Topalian on July 6, 2022
It has been long known that crypto can be used in tandem with philanthropy to provide financial aid to marginalized groups. The Stacks Foundation has taken this a step further and created an innovative social good program that leverages yield from cryptocurrency, specifically STX, to fund thousands of women in Afghanistan seeking financial relief. The program is in partnership with the Stacks Foundation, Women’s Entrepreneurship Day Organization, and OpenGrants.

With the recent Taliban takeover, many women and their families are in need of resources to build up localized strength and financial independence. This new program is seeded by the Stacks Foundation with 1 million STX tokens which will be Stacked. All bitcoin rewards generated from Stacking will go to these women and their families, securing critical resources while they face a crumbling banking system. All funds will be immediately directed to women and families and will be converted into their local currency.

Cryptocurrency donations are uniquely suited to address common issues with financial relief campaigns in this region. Commonly, oversight and accountability issues arise with giving programs in this area, but a crypto-fueled campaign will ensure that aid and funding is directly received by these women, with accountability as a key component. Social entrepreneur, humanitarian, and CEO of the Women’s Entrepreneurship Day Organization, Wendy Diamond will spearhead this new direct aid program alongside OpenGrants which has already set up wallets for more than 100 women.

“Beyond a single campaign, we’re working toward a robust, user-friendly platform that will allow more people to easily participate in campaigns such as this, as well as set up their own campaigns to support charitable causes,” said Mitchell Cuevas, Head of Growth at the Stacks Foundation. “Because the causes are supported with the bitcoin yield generated from Stacking, individuals and businesses can continuously support a variety of causes in a sustainable way. This campaign with OpenGrants and Women’s Entrepreneurship Day is just the beginning of a new wave of charitable giving and social good powered by crypto and its communities.”

In the future we hope to make this funding model available to other charitable campaigns so people can use Stacking to support causes they care about.

About OpenGrants
OpenGrants is on a mission to deploy modern financial infrastructure to support efficient, equitable, and transparent grant funding processes.

About Women’s Entrepreneurship Day
Women's Entrepreneurship Day (WED) and Women’s Entrepreneurship Day Organization (WEDO) were started by social entrepreneur and humanitarian, Wendy Diamond, to empower, celebrate, and support women in business worldwide. WED and WEDO work globally to lead and inspire women and girls to become active participants in their local economy. Together, they have ignited a powerful network of women leaders, innovators, and entrepreneurs to initiate startups, drive economic expansion, while advancing communities around the world. In order to achieve this ambitious goal, WED and WEDO build and catalyze the vital networks of like-minded individuals and organizations that women business leaders need in order to realize their full potential and to change the world.
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