Internet Archive Welcomes Bitcoin Cash and Zcash as Donations

November 21, 2017 by Akshay Makadiya 0 Comment 2939 Views

The Internet Archive, a non-profit digital library, has added Bitcoin Cash and Zcash as donation possibilities for benefactors. This makes three cryptocurrencies in total that the organization accepts, leading it to become a high-profile proponent of cryptocurrencies.

Also read: You Think an $8,000 Bitcoin Price Is Cool? Wait Until We Hit $12,000 in January

Expanding Presence as Interest Grows

The Archive has accepted bitcoin donations since 2012. However, the library’s latest addition of two more cryptocurrencies shows the organization’s support towards virtual currencies is growing.

The non-profit organization announced in a company blog post that they’re “now accepting donations of Bitcoin Cash and Zcash.”

The decision was taken after Twitter user “UKcryptocurrency” requested the Internet Archive accept Bitcoin Cash as a donation option in a November 14th tweet:

@internetarchive Please consider accepting #BitcoinCash Donations along side #Bitcoin. The low fee of #BCH compared to #BTC may result in more donations from fans. See https://t.co/zC1DQDwsPO for more information.

— UKcryptocurrency (@uk_c_c) November 14, 2017

IA Thinks the Cryptocurrency Movement Isn’t Going Anywhere

Within two days of the Twitter request, the non-profit organization got Bitcoin Cash and Zcash wallets set up to accept donations.

Internet Archive not only provides their digital archival function for free, but also advocates for free internet access worldwide. The company aims to make sure all books, software, and web pages are available on the internet for free and made open to the public.

Accepting cryptocurrencies, then, is a way for the Archive to keep this mission alive. They’ve already started experimenting with paying employees in bitcoins, for example.

In their new announcement post, the company stated: “We are big fans of the cryptocurrency movement and have been trying to do our part to test and support alternative means of commerce.”

And Internet Archive is not the only organization that supports Bitcoin Cash. Many other global companies also accept BCH as a mode of payment. For example, Air VPN — a company that defends net privacy and neutrality — accepts Bitcoin Cash.

“Accept Bitcoin Cash” Initiative

Bitcoin Cash, a hard fork of Bitcoin, has seen a spike in supporters since its birth on August 1st, 2017. At present, Bitcoin Cash (BCC or BCH) is the 3rd largest cryptocurrency with a market cap of $20,115,416,188, outranked only by Bitcoin and Ethereum.

Supporters of Bitcoin Cash have started the “Accept Bitcoin Cash Initiative.” This grassroots campaign aims to grow the virtual currency’s popularity internationally. Additionally, the community also revamped BCH’s website to make it more user-friendly.

According to the Bitcoin Cash community, the virtual currency sticks to the original promise of cryptocurrency as “Peer-to-Peer Electronic Cash.”

With the rising popularity of Bitcoin Cash, a conflict’s brewing between it and Bitcoin.

At the end of the day, Bitcoin Cash is just a three-month-old cryptocurrency whose price recently doubled overnight. Crypto experts believe its success points to the ongoing scaling strife within the wider BTC community.

Despite the growing popularity of Bitcoin Cash, its value is still not even near a quarter of one bitcoin.

Only time will tell if BCH will succeed in garnering further acceptance and price discoveries.

Worth Noting: Internet Archive Chooses Zcash Over Monero

Interestingly absent from the Archive’s new listed donations are top 10 market cap heavyweights like Ethereum and Monero.

Like Bitcoin Cash, ether can also be moved affordably and cheaply — seemingly making it an attractive option for the organization.

And the Archive chose privacy coin Zcash over the more infamous Monero — suggesting that the organization sees Zcash as being more reputable and in line with their own project’s mission.

With their openminded approach to community suggestions, however, it’s likely the Internet Archive will begin accepting more of the most popular cryptocurrencies in the weeks ahead.

Do you think more companies would accept the Bitcoin Cash and other cryptocurrencies as a payment option? Let us hear your thoughts on the same in the comments section below.

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Images via Disruptive Asia, Democracy Now, Internet Archive