What if you had a bitcoin wallet that gave you an automatic income stream and a way to donate directly to charities?
That would be the premise of an ambitious project from a California-based charity, called The Jeff Bezos Charity.
The group, which aims to raise $1 billion by 2020 by offering free gift cards to people in need and to pay its own employees for their services, is raising $500,000 from investors including eBay co-founder Pierre Omidyar.
A key selling point of the charity, which will offer free gift card vouchers to donors in need through January 2018, is that it will use bitcoin to operate.
In a press release, the group said it will “provide an automated platform for people to make donations to the causes they care about.”
It is not yet clear how the company will pay its employees, though it may be by offering bonuses to those who donate.
“We’re hoping that we’ll be able to use bitcoin for our payroll, our rent, our energy, to make sure that we’re able to pay our employees and contractors,” CEO Matt Mather said in the release.
The charity is also promising that it is working on a “digital wallet” that will allow donors to transfer their bitcoins into another wallet, so that they can give to a variety of charities, such as veterans’ groups, the U.S. Navy and a non-profit organization in Honduras.
Mather said that The Jeff Amazon is planning to use blockchain technology to manage all of its operations and that it intends to build a “global infrastructure” to manage its fundraising.
It will be up to its members to “decide how they want to use their bitcoin to support their charities, or to contribute to other charities,” Mather wrote in the press release.
It is unclear if any members of The Jeff Store will be able access bitcoin, or if they will be given a gift card code.
In the past, charitable giving has been difficult for some people, particularly women.
Mather noted in the announcement that The Bezos Charity is using “a blockchain-based platform that enables our members to donate anonymously without fear of having their identities revealed to third parties.”
He said that the donations will be sent to the address in the bitcoin wallet.
The Jeff Bezos Trust, the nonprofit’s parent company, is listed as the registered agent on its website, though its current website does not list an agent.
The Bezos Charity said in its press release that the gift cards will be distributed to a “limited number of beneficiaries, each of whom will be eligible to receive a voucher equal to $1,000,” and will be delivered on January 15.
The nonprofit also announced that it plans to open a crowdfunding campaign for the project on January 11, with an aim of raising $1 million by December 2019.