Wikimedia to Stop Accepting Cryptocurrency Donations

Wikimedia Foundation has been asked to cease taking cryptocurrency donations. Editors of Wikipedia have stated that Bitcoin and Ethereum’s proof-of-stake system saps too much energy.

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During the poll, The community was asked if the site should stop accepting bitcoin donations in a vote. 326 users participated in the poll within which 71.17 percent or 232 voted yes, which according to Wikipedia administrator Vermont is one of the most significant support.” And as a consequence, the Wikimedia community asks the Wikimedia Foundation to contain assuming the donations of cryptocurrency.

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The Wikimedia Foundation operates and observes the allocation of the multilingual online encyclopedia Wikipedia. It conducted a three-month-long survey lasting from January 10 to April 12. As a result, it came out that the majority of its community members dislike cryptocurrency donations.

71 percent of voters argued, “environmental sustainability issues related to the endorsement of cryptocurrencies comprise an unstated acceptance and risk of the issues surrounding cryptocurrency donations.”

The Wikimedia Foundation started accepting Bitcoin in 2014 and received $140,000 in the first week. In the recent fiscal year, the foundation received less than 0.1 percent crypto donations of its total revenue, worth $130,000, which is amounting to around $150 million in 2021.

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Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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