Bitcoins have been hugely mistrusted by many of the famous financial regulators, but fortunately, many fans of Wikipedia have already started using the virtual currency. From last week, Wikipedia has also started to accept the Bitcoins as donations.
Every year, Wikipedia used to collect donations for its free service and also for its financial issues such as server maintenance, worker wages and so on. The annual fund-raising program has already started in the Wikipedia websites, till now $140,000 has collected by the fund-raising program. Wikipedia founder, Jimmy Wales adds a banner on the each page for a fund-raising program.
Wikipedia stated in its blog post:
We’re adding one more: Bitcoin. For those unfamiliar with Bitcoin, it’s a relatively new digital currency, currently being accepted by a growing number of institutions and merchants throughout the world. Members of our community have asked the Foundation to start accepting Bitcoin. These requests, coupled with recent guidance from the US Internal Revenue Service, encouraged the Foundation to once again review our capacity to accept Bitcoin.
$140,000 is only a fraction of funds raises by Wikipedia, Wikipedia accepts payments in terms of credit card option, PayPal and also it accepts stock market share too. But this time, Wikipedia has opened door for Bitcoins users, since most of the users of Wikipedia are tech-savvy users. This is turn will show the effect in Wikipedia Foundation fund-raising programs. Wikipedia don’t store the stockpile of Bitcoins, as soon as the transactions are processed, the Bitcoins are converted into US dollars.
Wikipedia has a total budget is $58.5m for this year plan, the organization will provide funds for creating new projects and also involves the creation of new sources for the internet users. In some nations, Wikipedia organization has planned to broaden its access by subsidizing the mobile date access, this enables the users to access the Wikipedia for free of cost without paying a single penny to the operators.
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