Blockchain technology might only be around for a mere decade but it might have set it’s sights for another institution that has been here Before Christ. Literally.
In 2018 we saw an increase in blockchain based technology to organized and traditional religions.
And we’re not talking about some spin-off Church of Bitcoin. We’re talking about the big guns! Recently companies that are hell bent on providing some enlightenment to the millions of people that follow the tenets of religions such as Christianity, Buddhism and even Judaism!
Most are your average and run of the mill platforms that want to provide services in compliance with religious doctrine and others aim to provide safe and orthodox ways to bring in donations. However, since nothing in the crypto world is without it’s share of controversy, there are those platforms which have a slightly devious and unconventional agenda.
Crypto coins are being used as an incentive for faithful followers to perform their daily obligations but who or what they’re faithful to is an entirely different question altogether. Critics have observed that while some crypto cash might be just the perfect kind of push needed for people to pray on time, it might not be the right way to promote God’s word.
However, it isn’t all bad and as misunderstood as Crypto technology has been in the past, many of these “spiritual” ventures are actually doing good in their communities!
Here’s how the top 3 religions of the world have opted for the Blockchain bandwagon;
Based in London, BitCoen is one such intiiative that focuses on providing reliable tools to religious communities so they can carry out their day to day activities and has been launched as “the first blockchain-project for the Jewish community.”
However, keeping true to the message of altruism and the greater good, BitCoen President David Dyshko stated in an interview to Cryptonews.com that the ultimate “aim is to unite communities all over the world.”
BitCoen is a platform for all but it is a safe avenue for Jewish businesses and communities to buy and sell kosher goods and services throughout the network. In February of 2018, it ended its ICO with sales over USD 2.5 million.
Gratias, however has another agenda entirely. In the words of it’s CEO and co-founder Alenas Gumuliauskas, this Ethereum powered enterprise “will offer the possibility for 24/7, absolutely transparent and community-auditable two-click giving around the globe.”
The platform which launched in June of last year allows users to first purchase their tokens which can then be donated to religious institutions and charities.
Since the popularity and trust ratings for churches and religious charities have dwindled in recent years according to Gumuliauskas, the platform aims to provide the public with records of all donations. “Currently we are targeting Generation Z, Millennials, Generation X and other […] smartphone users, (along with) Christians who want transparency, accessibility and ease in giving.”
However, how successful this will be is yet to be seen since neither Gratias nor the Ethereum blockchain can do much once funds are taken off-chain and converted into regular currency.
Buddhism and beyond
The most unique crypto venture in the world of organized religions however has nothing to do with charitable donations or safe transactions. Platforms like Lotos and Life Change hope to help connect entire religious and more importantly, spiritual communities for a higher purpose.
Lotos considers itself as “a complete Buddhist and secular meditation ecosystem on the Ethereum blockchain.” And although one of it’s tasks is to further the act of transparency of religious donations and funding, the real agenda consists of activities such as linking Buddhist scholars with students and yet again incentivizing spiritual meditation.
Life Change is pretty similar as it rewards the faithful with it’s own brand of cryptocurrency called Christ Coins for “reading” the bible.
Whether or not blockchain technology will be the best way to preach the importance of religious activities to the masses is yet to be seen. But one thing’s for certain, the road to high adoption is paved with less investors.