Following the freeze of the GoFundMe fundraiser, a group of Canadians has started raising funds with Bitcoin (BTC) after raising donations for Canadian trucks protesting the COVID-19 ban.
Prior to the freeze, a total of over $9 million was donated to the campaign. Nonetheless, a disclaimer named “Under Review” was added to the fundraising site, which states that this fundraiser is presently on hold and is being reviewed to ensure that it obeys the Service’s conditions and applicable rules and regulations.
GoFundMe has made an announcement that it will not distribute the remaining $9M in the Freedom Caravan 2022 campaign because, allegedly, it was guilty of the violation of its conditions, citing that “calm demonstration is now in the form of an occupation.”
GoFundMe stated that all contributors can submit a full refund request by Feb 19, 2022, and the remaining funds will be sent to “GoFundMe certified charities.” For this reason, truckers have no access to funds, which is why a group in Canada chose to use Bitcoin to raise money for truckers from alternative sources.
The BTC network is dispersed that’s why it cannot be controlled by a lone entity. What’s more, the native digital currency of the network can be transferred peer to peer with a bitcoin address between a sender and receiver.
Using Tallycoin, the movement is in a position to receive all Bitcoin directly into the wallet. In this way, they can keep control of the keys. As a result, unlike GoFundMe, Tallycoin has no ability to withhold funds. Additionally, using Tallycoin, BTC donations can be made to both China and Lightning networks, allowing more performance.
Within days of its launch, the movement had collected about 1 BTC (approximately $41,500) after the advertisement of this story. All bitcoin collected will be kept in a wallet which will require many signatures to spend the collected funds.
This way, the wallet abolishes a point of failure. It also ensures that the group should cooperate on how the fund is to be used as no one is capable of transferring bitcoin.
The group is going to discuss the most useful way to distribute funds to truck drivers. Canada is home to the distinct choice of BTC services companies, enabling consumers to use BTC to purchase daily goods and services. It looks like Bitcoin will be used to buy fuel and food for the truckers as they are facing the bitter cold of Canada to lift sanctions.
