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Barclays to allow charities to accept bitcoin -- but why?
British bank Barclays has announced that it would allow charities to accept bitcoin, reports Coindesk.
Banks have been jumping into bitcoin as some kind of savior for financial services and the monetary system. Banks, the ultimate intermediary, are hawking the anti-intermediary.
But the truth is, they just haven't found any really great uses for it yet. The best case for it so far has been Silk Road. And, well, we know where that led. Argentina is another case where bitcoin is gaining traction -- the monetary unit there is so subject to inflation, who would want to hold it for more than a nanosecond?
It's just not clear why a donor would prefer to donate to a charity via bitcoin. Does anyone have any thoughts?