Several industry insiders believe that, in fact, donations made in cryptocurrency are a quick and significant way to give financial aid in times of crisis.

This was proved by the devastating earthquake in Turkey and parts of Yemen in February. Blockchain technology analyst Chainanalysis may have donated about $5.9 million to support relief operations in the region in the month since the flooding.

Organizations such as the Turkish Ministry of Internal Affairs earthquake activities humanitarian assistance theme activities the Turkish Red Crescent Society Save the Children and the Education Foundation have received contributions under the encrypted currency. In addition, several cryptocurrency trading centres, including Binance, Tether, Bitfinex, OKX and KuCoin, have donated more than $9 million to support victims in the region.

Cointelegraph contacted Chainanalysis to unlock the way to regulate login password donations to support the fight against disasters in Turkey and Yemen.

Kim Grauer, head of scientific research at Chainanalysis, says the company uses a combination of people intelligence information collected by its authoritative experts and unique heuristics to identify regulatory inflows into cryptocurrency services. It mainly includes organizations that accept donations and their frauds that try to embezzle donations from unwitting supporters.

Grauer believes that, in fact, the speed of buying and selling and the international nature of cryptocurrency transactions are an important way to provide rapid currency support in times of crisis:

The cryptocurrency's cross-border e-commerce, timeliness and liquidity make it the best technology to raise money and immediately send it to the areas where it is most needed.

Grauer also elaborated on the ability to accurately regulate blockchain data, which is another strong argument for the effects of cryptocurrencies in promoting donations and support in the wake of major emergencies such as disasters:

The clarity of blockchain technology is a distinctive benefit of cryptocurrency, providing an opportunity to assist organizations in tracking donations and a good opportunity for law enforcement agencies to identify illegal schemes that try to make a profit in times of crisis.

Antonia Rupel, who is responsible for the actions of Save the Children Web3, told Cointelegraph that the group initially accepted BTC as a donation in response to Typhoon Haiyan that swept the Philippines in 2013. Since 2020, the charity has raised $7.4 million in encrypted currency donations.

Related: since the gradual conflict in Russia, the Ukrainian state has won a donation of 70 million US dollars for data encryption.

This continues with the group's earthquake relief efforts in Turkey and Yemen. Roupell describes some of the benefits of donations based on login passwords compared to donations required by law.

Most of our login password donors are first-time donors from Save the Children, so the login password gives us access to a new and growing number of supporters. "

According to Roupell, the role of blockchain technology has provided a driving force for regular donations. In 2021, Save the Children received a number of ethernet donations from NFT sales, some of which numbered future donations based on the smart contract role of special NFT.

Rupel also described the U. S. tax preference for donations of cryptocurrencies to charities, which led to an increase in donations at the end of the fiscal year. She also stressed that, on average, data encryption donations are much higher than those required by law.

While focusing on subjective factors, Rupel shows that the main drawback is that most of the cryptocurrency donors are polarized, which eliminates the ability to appreciate donors.

Rupel feels that distributed ledger solutions are of great value in facilitating and supporting efforts around the world, and that humanitarian spiritual organizations will play an increasingly vital role at the level of integration and expansion of underlying access conditions:

Cryptocurrency is a great donation tool, but its basic technology-point-to-point e-cash-is truly epoch-making for economic development tolerance.

The charity supports a variety of cryptocurrencies accepted by The Giving Block, a password donation service, and Roupell says it does not support, market or evaluate all specific dynamic passwords. It also accepts currencies and stocks in circulation around the world and gives priority to financing emergency assets to support the reflection of the humanitarian spirit around the world.