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Bitcoin, the experimental online currency, is sparking intrigue and questions among business and technology leaders—but does it have a future in the nonprofit world?
A few nonprofits are already accepting donations in bitcoins, says Peter Vessenes, chief executive of the Bitcoin Foundation, an organization that is developing the currency approach. But now he says he wants to figure out how the idea can benefit nonprofits and donors.
If nonprofits want to set up the currency, they simply set up an online address, known as a “wallet,” to accept the bitcoins from donors. The idea of the coin is to find a secure way to make financial transactions without getting a bank or other financial institution involved.
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