New York, July 23, 2018 (GLOBE NEWSWIRE) -- RootProject has distributed funds to its first three campaigns and early nonprofit partners: Cocoon House, Cycle Kids and Tech Goes Home. All three of these nonprofits partnered with RootProject prior to RootProject’s Token Generation Event. RootProject is proud to have completed its first round of successful funding campaigns with these nonprofits, all doing incredible work in their communities.
RootProject co-founder and CEO, Nicholas Judge, said, "These nonprofits joined us, back when RootProject's pre-ICO had just ended, and 99% of people had never heard the words 'crypto' or 'blockchain.' We are now just three months out from the Token Generation Event, so it is very exciting to already be producing real, tangible results with this new funding paradigm. Cocoon House, Cycle Kids and Tech Goes Home are all great organizations and we are thrilled that we were able to support their programs."
Cocoon House, located in Everett, Washington, serves homeless and at-risk youth with the mission to empower young people, families and the community to break the cycle of homelessness through outreach, housing and prevention.
CYCLE Kids is committed to strengthening the emotional and physical health of children by teaching them the skills necessary to lead active and healthy lifestyles through riding bikes. Their programs address the issues of inactivity and poor nutritional habits of students, families and school staff.
Tech Goes Home (TGH), founded in 2000, is a national award-winning initiative empowering communities to access and use digital tools to overcome barriers and advance lives. TGH is focused on tackling the entrenched barriers to technology adoption and Internet access in Boston and across the US.
Thanks to the generous support of the RootProject community, RootProject has been able to help unsheltered young people gain access to safe and supportive housing options, strengthen the emotional and physical health of children by teaching them the tools of an active and healthy lifestyle, and close the technology divide by empowering communities to access and utilize digital tools.
RootProject provides a new way to crowdfund, harnessing the power of cryptocurrency for social good. Blockchain technology is applied to a class of economic models for the first time. The result is a new funding paradigm for the social good– one that aligns the interests of investors, donors and nonprofits.
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