Australian charities are increasingly curious about whether they should accept cryptocurrency donations and if they do, are considering whether or not they need a crypto policy.
But what is cryptocurrency and how does it work? According to Matthew Jones, major donor senior relationship advisor at Médecins Sans Frontières Australia and Médecins Sans Frontières New Zealand (MSF), crypto is a unit of currency known as coins or tokens.
“They are de-centralised and non-government controlled and each token or coin is a specific piece of algorithmic code which cannot be duplicated or tampered with,” he explains.
“It is virtually impossible for a transaction to be intercepted, so it is extremely secure.”
The code for each coin is documented on a digital ledger, known as block chain technology.
Why crypto?
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