The developer of the world’s biggest encyclopedia stage, Wikimedia Foundation, has disclosed that it has stopped accepting any more cryptocurrency donations. The developers of Wikipedia announced that it has already shut its BitPay account.
This information was revealed shortly after the company engaged with 400 community members, following which the publisher of Wikipedia, Molly White, suggested a vote to decide whether cryptocurrencies should be allowed as a donation by the Wiki Foundation.
Over 70% of participants were for discontinuance of every form of cryptocurrency donations. An update from the organization reveals that Wikimedia has decided to stop any direct receipt of all types of cryptocurrency as a donation.
Wikimedia started accepting cryptocurrencies in 2014 after requests from the donor community and volunteers. But the recent decision was based on fresh feedback from the community members.
Wikimedia had initially added cryptocurrencies as an option for donations as they believed that it would make contributions both simple and wide-ranging. The foundation cooperated with Coinbase initially to accept cryptocurrency donations before moving to BitPay, thus adding more cryptocurrencies.
Wikimedia: The Major Argument Against Crypto Is Environmental Sustainability
The debate on using crypto donations started in January 2022. Over 400 members were part of the debate. But several accounts were created with the sole purpose of dissuading Wikimedia from accepting cryptocurrencies.
But many blockchains have entered the market that is energy-efficient and does not use the energy-guzzling proof-of-work mining.
Donors favoring crypto donations also argued that cryptocurrencies facilitated anonymous donors, especially in nations where Wikipedia is censored or illegal. Those favoring cryptocurrencies as a means of donating pointed out that Bitcoin is accepted as legal tender in the Central African Republic and El Salvador. In these countries, Wikimedia should permit donations in cryptocurrencies, they said.
Its exposure to cryptocurrencies was barely significant before the ban. The foundation received donations in Crypto from just 347 different donors.
