Stellar Ecosystem Mobilizes for Brazilian Flood Relief with Crypto Fundraiser
The Stellar network, a decentralized protocol, is lending a helping hand in the Brazilian flood relief efforts through a crypto fundraising campaign. CheesecakeLabs, a Brazilian engineering firm within the Stellar ecosystem, is facilitating donations to aid affected families, schools, shelters, and charitable organizations.
By leveraging the Stellar blockchain, the fundraising campaign allows for crypto donations in USDC and XLM, enabling zero-fee and instant transfers. This initiative showcases the power of blockchain technology to make a significant impact during times of crisis.
Marcelo Gracietti, CEO of CheesecakeLabs, believes that the transparency and efficiency offered by blockchain technology are crucial for ensuring that donations reach their intended targets. Furthermore, the use of Stellar’s network removes geographic barriers, allowing a wider donor pool to contribute to the relief efforts.
Stellar was specifically designed for cross-border transactions, making it an ideal choice for facilitating international assistance during disasters. The network is cost-effective and accessible to anyone, regardless of their location or financial status.
The recent use of Stellar for crypto donations in Brazil is just one example of the network’s potential. Last year, the United Nations High Commissioner for Refugees (UNHCR) utilized Stellar’s platform to send donations to Ukraine, showcasing its effectiveness in disbursing funds for positive social impact.
At present, XLM is valued at $0.0991, with a market cap of $2.8 billion and a trading volume exceeding $63 million within the past 24 hours.
Overall, this collaborative effort within the Stellar ecosystem showcases how blockchain technology can empower individuals to make a tangible difference during times of crisis.