French Government Open to Crypto Donations for Notre Dame Reconstruction Says Minister

French Government Open to Crypto Donations for Notre Dame Reconstruction Says Minister

 

The French government has shown its willingness to accept crypto donations for the reconstruction of the Notre Dame cathedral. According to Cédric O, the Minister of State for the Digital sector, the government is ready to partner with cryptocurrency platforms willing to donate crypto for the reconstruction.

The Notre Dame was razed down by fire on April 15 which reduced the medieval cathedral to a shell of its old self. The last three days have seen well-wishers donate over $1billion (900million Euros). The fire is said to have almost destroyed the world landmark.

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Dedicated Notre Dame Website

The Digital sector is under the Economy and Finance ministry headed by Bruno La Maire who noted that the newly created Notre Dame website was hurriedly set up with no provision for cryptocurrency donations.  However, this should not deter cryptocurrency platforms from making their contributions.

The website connects four approved organizations that are authorized to collect donations on behalf of the cathedral. At this point, Cédric O adds that the government is “open to discussing with others” to make the fundraising efforts successful.

Conditions Pegged to Crypto and Fiat Donations

Once cryptocurrency hops in, the conditions for their donations will be the same as the ones for government-issued currencies. The minister goes on to warn that donations should not attract any commissions. Consequently, the collected funds and data for tax deduction purposes should be channeled through the organizations authorized to collect the donations.

Already, an international blockchain firm, BlockShow has an event running to raise funds for the reconstruction of the Notre Dame. Binance exchange, through their charity channel, has also set up a fund under the exchanges’ Blockchain Charity Foundation (BCF).

According to minister Maire, the government is keen on embracing the blockchain technology as a priority. He also noted that the local blockchain regulating body spearheaded by the PACTE Act, which was passed by the National Assembly at the beginning of the month as positive indicator wards working with crypto platforms of repute.

Handsome Donations: Crypto Vs Fiat

Cryptocurrency ecosystems are known for their generosity when it comes to donations. For some platforms, the Notre Dame Reconstruction donation call might see the same generosity expressed from across the various cryptocurrency outfits.

It is also an opportunity to put the blockchain high-speed transactions into practice, a good use case for responding to disasters and helping out the affected populations. The banks also have a chance to prove blockchain technology wrong when it comes to sending money across the borders.