Yesterday, the cutting-edge of medicine met avant-garde technology as the New York Stem Cell Foundation announced that they would be accepting donations through bitcoin payment company, BitPay.
Since its foundation in 2005, the NYSCF has become a leader in using stem cell research and technology to find cures for a range of diseases, from heart disease and diabetes to Alzheimer’s and Parkinson’s. As a non-profit, private philanthropic organisation, they rely on private donations to fund their work – currently being undertaken by 140 scientists.
The offer of a fast, secure, global method of payment will be key to expanding the funding opportunities available to the NYSCF who would otherwise be limited to traditional forms of financial contribution. With this opportunity provided by BitPay, the NYSFC can continue to develop pioneering methods of combating life-threatening conditions, such as engineered tissues for use in cardiac repair and linking the development of ALS (also known as Lou Gehrig’s disease) in human and animal models.
BitPay, as a major bitcoin payment company, has ties with high profile companies and investors such as Microsoft, PayPal and Sir Richard Branson.