The American Cancer Society (ACS) has made a groundbreaking move by partnering with Gitcoin, a leading figure in open-source funding, to leverage web3 technology for decentralized cancer research funding. This partnership marks a significant milestone for the ACS as it steps into the decentralized world of web3, using Gitcoin’s expertise to drive its ACS Cares program and the Crisis Response Fund.
The ACS round, separate from Gitcoin’s regular seasonal Grants program, is aimed at benefiting the ACS Cares program and the Crisis Response Fund directly. This initiative is crucial, as donations will go towards groundbreaking cancer research, advancing health equity initiatives, and bolstering patient support programs. Additionally, it will help provide essential lodging for cancer patients undergoing treatment.
Gitcoin has played an essential role in the web3 ecosystem, primarily through its use of Quadratic Funding (QF). This innovative funding mechanism has allowed Gitcoin to disperse over $50 million across more than 100 rounds, empowering various organizations in their mission-driven endeavors. In the case of the ACS round, QF promises to channel resources efficiently towards breakthrough cancer research, health equity initiatives, and patient support programs.
Azeem Khan, Head of Impact at Gitcoin, stated, “By using Gitcoin, the American Cancer Society gains access to a vibrant community of technologists and crypto enthusiasts who are passionate about driving positive change. This partnership combines Gitcoin’s expertise in blockchain with the American Cancer Society’s commitment to cancer research and prevention, creating a powerful synergistic effect in the fight against cancer.”
The collaboration between the ACS and Gitcoin is more than just a fundraising initiative; it represents a beacon of innovation in the philanthropic world. By adopting blockchain technology and leveraging the power of community-driven funding, the ACS is furthering its mission to combat cancer and setting a precedent for other non-profits to explore the potential of web3 technology.
Ultimately, the partnership between the American Cancer Society and Gitcoin demonstrates the potential for blockchain technology to revolutionize philanthropy and drive impactful healthcare outcomes. It is a powerful example of how technology can be harnessed to advance the fight against cancer and support critical healthcare initiatives.