Sweet Jesus! The Catholic Church accepts cryptographic donations

Catholic faithful in the United States can now donate cryptocurrencies to support their church’s activities. But what is the Vatican’s position on digital currencies?

While most religions are thousands of years old with a slew of outdated nonsense, one archdiocese (a sector for which the archbishop is responsible) has shown that it is getting modern when it comes to giving. He has adopted a new asset class by partnering with Engiven, a cryptocurrency donation platform.

The Roman Catholic Archdiocese of Washington, DC will use the funds raised to expand its ministries and strengthen its digital management initiatives.

crypto-cathos

Catholics around the world do not have a uniform opinion on the moral approach to the use of cryptocurrencies. Other religions, such as Islam, have approved the use of some cryptocurrencies such as the Islamic currency.

According to the National Catholic Register, the Vatican has not commented on the use of cryptocurrencies: “No official moral evaluation or guidance has been issued by any curial office.”

Some observers claim, however, that early cryptocurrency investors became immensely rich without working: to poverty. ”And according to them, this is unfair.

Other Catholics believe cryptocurrencies can actually solve many problems for the poor. In Thank God for Bitcoin, author JM Bush argues that the US monetary system “can most likely introduce new money into the system at will, manipulating the value of money and potentially distorting the relationship between the work people do and the wealth they actually own.” As several critics have pointed out, this type of inflationary monetary policy has the greatest negative impact on the lower classes, who tend to have more cash-related wealth, than more stable assets such as land and capital.

The author of this paper first bought BTC in 2017. According to him, crypto “took monetary governance out of the hands of a privileged few, establishing an immutable system that forced all participants to play by its rules and to adapt to them, rather than bend it to their own will “.

Vatican art and its NFTs

That said, the Vatican is no stranger to anything related to the Web3. Indeed, Vatican art will soon also find itself in the metaverse in the form of an NFT gallery, with the virtual reality company Sensorium responsible for creating this virtual world with Humanity2-0.org. You will find, among others, works by Van Gogh, Michelangelo, Picasso, Gauguin and Raphael.

Donations of cryptocurrencies to the Catholic Church

Joseph Gillmer is the executive director of development for the Archdiocese of Washington. On this issue, he said: “The Roman Catholic Archdiocese of Washington, DC seeks to harness technology to engage parishioners in new and exciting ways to enable the faithful to carry out the mission of the Church., Which is to spread the light of the gospel. of Jesus Christ to the world. Engiven helps us fulfill the mission of the Church by providing an advanced yet easy-to-use cryptocurrency donation platform, giving members the flexibility to support over 300 parishes, schools and ministries throughout the Washington area. A.D”.

On the platform, the Church offers a number of donation options; a “menu of ministries”. For example, there are initiatives such as the EU food security program.

James Lawrence, CEO of Engiven, said, “The Engiven platform was designed to enable enterprise-scale cryptographic donation solutions for this exact type of implementation …”

Engiven says its technologies “allow government departments and nonprofits to securely accept and settle cryptocurrency donations while eliminating the complexity and risk associated with crypto transactions.”

So what is the exact position of the Vatican on cryptocurrencies? It remains indefinite for the moment, it seems.

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