Pennsylvania-based pharmacist Kenneth Kim had all the time “wished to do one thing with crypto” that would “make the world a greater place”.
In 2019, he based what is thought right now as Crypto for the Homeless (CFTHL), a New Jersey registered non–revenue group, which has fed greater than 5,000 homeless folks world wide by means of using digital currencies.
“I all the time had the will to get entangled with some type of venture in crypto… if it made the world higher that might be the absolute best situation,” Kim advised Cointelegraph.
While he was a pharmacy pupil at Temple College in Philadelphia between 2018 and 2021, Kim would stroll previous scores of homeless folks simply on his route between the campus and his house.
It was additionally round this time that the brand new Blade Runner 2049 film was launched, depicting a dystopian future the place individuals are augmented by know-how, however the hole between wealthy and poor are as vast as ever.
As an alternative of begging for cash, the homeless had been begging for digital credit.
“I assume the film is attempting to convey that we’re to this point sooner or later that even the homeless folks have utterly adopted this new approach of utilizing forex.”
How crypto suits into the image
It was then that Kim bought the idea of using crypto to gather and distribute funds to assist these in want.
“Mainly, after that, I used to be pondering what if I can make the most of that to extra effectively acquire funds for the homeless folks, and possibly I can exit and provides them meals?”
On April 28, 2019, Kim delivered his first 4 meals to the Philadephia homeless. Three years later, this group has celebrated its third anniversary, feeding 1000’s globally by means of the assistance of crypto donations and a tireless volunteer community.
Kim mentioned one of many most important causes he chose to use crypto was due to its decentralized nature. Funds can’t be frozen or locked away by authorities.
“The primary cause I truly started the venture with crypto is that I had actually unhealthy experiences with PayPal.”
The pharmacist mentioned there have been various events the place PayPal would shut down or freeze accounts for various causes.
“I did not like the concept that there is a central energy that at any second can try this […] So I used to be pondering, if I take advantage of crypto, it is actually unimaginable for that to occur. I’ve final management of it.”
The secondary cause, is that it considerably cuts down the hurdles to reimbursing his volunteers internationally, mentioned Kim.
Volunteer from nicaragua doing nice deeds. That is what crypto can do to raised the world#Crypto #cryptocurrencies #bitcoin #BitcoinCash #philadelphia #ethereum #Philanthropy #BCH #BTC #homeless #homelessness #charity pic.twitter.com/AiChElkNFq
— Crypto for the homeless (@CRYPTOFTHL) March 22, 2022
CFTHL’s mannequin works by reimbursing volunteers who purchase sizzling meals and hand-deliver them to homeless folks of their native areas. Volunteers would supply receipts to proof the meals they bought, and footage of the homeless folks receiving it. Upon verification that the act was genuine, Kim’s group would reimburse the volunteers with the crypto of their selection.
“We have had a reasonably vital quantity of individuals volunteer for us abroad, and since we use crypto, I used to be in a position to simply not likely fear about any type of wiring payment or something like that.”
The human facet
In an announcement about CFTHL’s three-year anniversary, Kim mentioned his group “by no means got down to clear up homelessness”, however relatively to re-introduce the human facet of charity – one thing which was “sorely lacking from most different initiatives.”
CFTHL volunteers are required to hunt out homeless folks and ship meals to them personally as a way to be reimbursed.
“[It’s about] bodily [being] there handing the meals out, like irrespective of the place they’re, particularly if it is the center of the freeway, or like below a bridge of their tent.”
Kim felt that many charities “lacked the human facet” to it, which is one thing that all the time bothered him.
“It felt like a number of them had been actually chilly, you realize, they lacked the human facet to it. If I donate to a soup kitchen or Crimson Cross, I wouldn’t actually see the results of it. I do not suppose they put up on social media or put up footage or something like that, so I am not even certain what’s occurring with the cash.”
CFTHL tracks each donation acquired by the group from its beginnings and offers a public ledger permitting these to see how the funds are being spent.
New put up: Information at a Look: Whole Donations https://t.co/0tNM5zegtz #Crypto #cryptocurrencies #bitcoin #BitcoinCash #philadelphia #ethereum #Philanthropy #BCH #BTC #homeless #homelessness #charity
— Crypto for the homeless (@CRYPTOFTHL) June 6, 2022
Crypto for the Homeless continues to be a comparatively small group, with solely two full-time staff and round 10-20 volunteers working regularly. His group has collected near $75,000 in donations since being based.
Kim runs the group alongside working as a full-time pharmacist at CVS Pharmacy in Pennsylvania. The founder is hoping to push for a further 3-5 volunteers over the subsequent few years and to develop his operations to extra nations.
To this point, his group has fed homeless folks in the USA, Canada, Australia, New Zealand, Nicaragua, Paraguay, Thailand, India, and lots of others.