As blockchain technology and cryptocurrency continue to refashion the world around us, we are usually offered a new case study on the advantages of the technology. One major example of this is the story of a sexual assault survivor using the payment processor ‘Seeds’ to crowdfund cryptocurrency anonymously.
In September 2018, a woman used Seeds to raise $500 worth of cryptocurrency successfully for supporting her while she took time to process the traumatic assault.
Seeds is a cryptocurrency-based payment processor startup which is aimed at growing your business, increasing customer satisfaction, and helping those in need across the world. The company allows the application developers to integrate donations as well as contributions to their apps.
How Does It Work?
When a user wishes to make an in-app purchase at one of Seeds’ partner applications, then the payment is turned into a microloan for the sexual assault victim in need. Seeds challenges to increase in-app purchase by up to 60% and says that its users spend four times in comparison to any typical buyer.
When it comes to using Seeds, anyone with a Seeds Ethereum-powered token can request for help and be matched with a microloan from one of the partner applications. In such case, the survivor got a Seeds token from the found Rachel Cook, so that she may post a “Request for Help” to 30 different applications.
This request for help was met with support from a number of application users who assisted the women in raising the necessary funds in just three weeks of time. Using Seed platform, the sexual assault survivor was able to crowdfund financial support without needing to provide a government identification card or bank account.
Rachel Cook told, “Survivors have trouble giving themselves permission to ask for money. The next logical extension I saw in that [#metoo] was we need to talk about how this economic [crypto] system can meet this need.”