Catholic believers in the United States can now donate cryptocurrencies to support the activities of their church. But what is the position of the Vatican regarding digital currencies?
While most religions are thousands of years old and full of outdated nonsense, one archdiocese (the sector over which the archbishop is in charge) has demonstrated that it is getting modern when it comes to giving. He has embraced 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 ministry and strengthen its digital governance initiatives.
Catholics around the world do not have a consensus on the moral approach to the use of cryptocurrencies. Other religions such as Islam favor the use of certain cryptocurrencies such as the Islamic coin.
According to the National Catholic Register, the Vatican has not commented on the use of cryptocurrencies: “No curial institution has issued any official moral assessments or guidance.”
Some observers, however, say that early crypto investors became immensely rich without working: to the point of poverty.” And they think it’s unfair.
Other Catholics believe that cryptocurrencies can actually solve a lot of the problems of the poor. In Thank God for Bitcoin, author J.M. Bush argues that the US monetary system “can 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 get.” actually own it.” As some critics point out, this type of inflationary monetary policy has the greatest negative impact on the lower classes, who tend to tie much of their wealth to cash rather than to more stable assets such as land and capital.
The author of this article first bought BTC in 2017. Cryptocurrency, he said, “brought monetary control out of the hands of a privileged few by establishing an immutable system that forced all participants to play by its rules and adapt to them, rather than bend it to their will.”
Vatican art and its NFT
However, the Vatican is familiar with everything related to Web3. In fact, Vatican art will soon be found even in the metaverse in the form of an NFT gallery, and VR company Sensorium is responsible for creating this virtual world with Humanity2-0.org. You will find there, among other things, works by Van Gogh, Michelangelo, Picasso, Gauguin and Raphael.
Cryptocurrency donations to the Catholic Church
Joseph Gillmer is Executive Director of Development for the Archdiocese of Washington. On this topic, he said, “The Roman Catholic Archdiocese of Washington, D.C. is committed to using technology to engage members in new and exciting ways to empower believers to fulfill the mission of the Church, which is to spread the light of the Church. The gospel of Jesus Christ to the world. Engiven helps us fulfill the mission of the Church by providing a cutting-edge yet easy-to-use platform for cryptocurrency donations, empowering parishioners to support more than 300 wards, schools and ministries overall in Washington DC.”
On the platform, the Church offers many donation options; ministries menu. For example, there are initiatives such as the Community Food Security Program.
James Lawrence, CEO of Engiven, said: “The Engiven platform was designed to provide enterprise-scale cryptocurrency donation solutions for just such implementations…”
Engiven says its technology “allows government departments and non-profit organizations to securely accept and liquidate crypto donations while eliminating the complexities and risks associated with crypto transactions.”
So what is the exact stance of the Vatican on cryptocurrencies? It seems as long as it remains undefined.
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