Technology has been aiding human life for centuries, making things simple, easy, and convenient. The conveniences that the world’s population enjoys today were deemed impossible by many. Every sector in the world welcomes a tech-powered solution that addresses many of its pain points almost every day. There is no aspect of this world untouched by technology. Pushing the world into a (r)evolution, technology is changing lives for the better, yet it has been a subject of extreme criticism. Many people, even some tech experts, are skeptical about advancements in technology as they believe it is leading to extreme dehumanization across the world.
As the world welcomes technologies such as Artificial Intelligence (AI), Machine Learning (ML), Blockchain, and several others, many of the labor-intensive jobs are fading away. But this is just one end of the spectrum. Fortunately, there are people, and even companies, working to prove that technology is no less than a savior, leading the world towards a brighter future.
ELONGATE, a charity cryptocurrency token, came into existence on March 25. The first-of-its-kind, ELONGATE originated as a social impact movement and cryptocurrency token. While on one hand, where the world was debating over whether this was a lucrative investment opportunity or not, ELONGATE brought a completely unique concept into the picture. It came as a charity cryptocurrency token with the aim to prove that technology can change the world for the better. It even pledged to give 80% of its income to charity. To serve its purpose, it charges a 10% fee on all transactions, half of which is given to token holders, while the remaining 5% is donated to charity. Within just a few months of its launch, this social impact movement has helped thousands of people.
Crypto as a Greater Power
Cryptocurrency is a buzzword in the investment world. This technology, built on the blockchain, has mostly received criticism, but not many were able to discover the power it held. Connecting this technology to welfare and leveraging its power to make this world a better place was more of a far-sighted thought. Showcasing crypto in its full power is ELONGATE, a community-driven crypto token. The purpose of this token is to leverage the general nature of crypto to contribute to charitable initiatives.
The cryptocurrency token, ELONGATE, built on Binance Smart Chain, originated as a parody of Elon Musk’s tweet about the Watergate Scandal. Today this has grown into a leading charity token, successfully raising $3.25m for well-known welfare organizations such as Children International, Human Relief Foundation, and Action Against Hunger. The Chief Marketing Officer, Gene Rhode Fuensalida Pantig, at ELONGATE discussed its purpose, stating, “Elongate has a concrete goal of serving as a ‘gate’ for digital initiatives to scale into the real world. The cryptocurrency space is an untapped power wherein its supporters – coming from all walks of life – are willing to help change the world.” She added, “Charity is integral to the Elongate ecosystem, and we aim to future proof this by expanding our offerings.”
The token was made available at the starting of 2021, and within a brief period, its community of holders has reached 350,000. Besides its considerable donation of $1 million to NGOs such as Children International, Action Against Hunger, and The Ocean Cleanup, within the first three weeks of its launch, it has donated over $3 million to Human Relief Foundation, Color the Spectrum, and GiveIndia. Not only this, ELONGATE live streams weekly charity parties on the Twitch platform. A few of its notable streaming events include one with Kevin Longino, National Kidney Foundation’s CEO. Its other large-scale donations include $150,000 funds to the EB Research Partnership.
ELONGATE has two different collaborative entities; EG Association and ELONGATE Global. EG Association, comprising Armin Keyani and Malik Bakrim, oversees all charitable events, fundraising, donations, and similar activities. Under the leadership of Hasan Aziz, Rani Barbara, Alexander Gambon, Brian Lobeda, and Austin Worrell, the global body focuses on introducing and implementing technology platforms and disruptive technological development. Both these collaborative entities work to ensure that all those in need have access to adequate resources at all times.
The way ELONGATE works proves that technology can be used to bring this world out of the dark times. Contrary to popular belief, technology products like ELONGATE will not lead the world into the darkness, but will help make this world a better place.
