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9.27.20
Crowdfunding Help

Blockchain Is Helping Abuse Survivors Gain Financial Independence

November 16th 18__Kristin Houser__Filed Under: Blocknik
Victor Tangermann

Funding Life

Cryptocurrency has the potential to not just change lives, but save them.

A story recently published in CoinDesk describes an anonymous woman who used the crypto-powered payment processor Seeds to crowdfund $500 after a sexual assault left her temporarily unable to work.

And while no one should need to rely on crowdfunding to cope with the aftermath of such a trauma, her case is an example of how crypto can improve the way survivors receive potentially life-saving help.

Financial Independence

While the $500 the woman in the CoinDesk story raised might not seem like much, for some people it could be the difference between freedom or staying in an abusive, potentially life-threatening situation.

“The main reason why women stay in abusive relationships is because they are dependent upon their partners,” a domestic abuse survivor and blockchain developer who spoke on condition of anonymity told CoinDesk.

Fear of retaliation from an abuser can prevent victims from attempting to gain financial independence through work, leaving them little choice but to turn to online crowdfunding.

If they use a traditional platform such as GoFundMe, though, they must submit a government-issued ID or share bank account information that could expose their identity. By raising funds through a crypto platform like Seeds, they can remain anonymous and avoid this risk.

An Imperfect World

The woman who used Seeds is just one of several abuse survivors described in the CoinDesk article as using crypto to improve their living situation.

And, of course, in an ideal world, abuse survivors would have no need for crowdfunding at all — there would be social safety nets in place to help them get out of bad situations.

But we don’t live in that world, so we need to make sure we help one another whenever we can. And right now, cryptocurrency platforms have the potential to facilitate that.

READ MORE: Sexual Assault Survivor Uses Crypto to Crowdfund Anonymously [CoinDesk]

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