A group of Canadian truckers turned to Bitcoin to raise funds (BTC) after a GoFundMe campaign was canceled. The fundraising site, on the other hand, had a disclaimer that read: “This fundraiser has been halted while we investigate whether it complies with our terms of service”.
Canada’s truckers turn to Bitcoin as GoFundMe ceases $9 million in donations
The platform has stopped a GoFundMe page that was raising money for Canadian truckers protesting COVID-19 limitations. Before the campaign was halted, it had received almost $10 million in donations. “This fundraiser is presently suspended and under evaluation to ensure it complies with our terms of service and applicable laws and regulations,” according to the platform’s disclaimer.
As a result of the suspension, a group of Canadians has taken it upon themselves to gather funds for the truckers through unconventional means. The group has decided to adopt bitcoin as a payment method. The Bitcoin network is decentralized, which means it is not controlled by a single body. Bitcoin, the network’s native asset, can be sent peer-to-peer between anyone who has a bitcoin address.
Jeff Booth, Greg Foss, Benjamin Perrin, and NobodyCaribou, all Canadian entrepreneurs and bitcoin proponents, are leading the charge. All of the bitcoin raised will be held in a wallet that will require several signatures to spend. Because no single person may move bitcoin, this eliminates a single point of failure and forces the group to coordinate how the funds are spent. At the time of writing, the fundraiser had raised about 1 BTC (around $41,500) only a few days after it began.
Tallycoin is being used for fundraising, as it allows the group to receive all bitcoin straight into wallets that they own the keys to. Tallycoin, unlike GoFundMe, does not have the option to hold back monies raised. Tallycoin enables bitcoin donations to be made both on-chain and through the lightning network.
The committee is debating the best way to disperse the monies to the truckers. Bitcoin services firms abound in Canada, allowing customers to use bitcoin to buy common goods and services. Initially, it appears that the focus will be on using bitcoin to assist truckers in purchasing diesel and food as they battle the bitter Canadian winter in their quest to abolish covid-19-related limitations.
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