6 Questions for Pat Duffy of The Giving Block – Cointelegraph Magazine

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!


This week, our 6 Questions go to Pat Duffy, co-founder of The Giving Block — a crypto donation solution that provides an ecosystem for nonprofits and charities to fundraise Bitcoin and other cryptocurrencies.


Pat is co-founder of The Giving Block, and has raised over $100,000,000 in crypto for nonprofits in the last year. From 2020 to 2022, Pat and his co-founder Alex Wilson grew The Giving Block from a four-person team into one of the fastest growing companies in the nonprofit sector, with thousands of nonprofit clients and the world’s largest crypto donor community.

1 — What is the main hurdle to mass adoption of blockchain technology?

People say education, and I think that’s wrong. When people say “education,” I think that leads to people getting up on stages and explaining blockchain to people who don’t even understand how their microwaves work. It feels very puritanical to me and it’s been stunting progress on adoption. I think people are too addicted to decentralizing everything, including crypto adoption, which leads to a lot of people creating “educational” content instead of building intermediary companies and encouraging beginner-level crypto ownership that doesn’t require staking yams. I’d love to see people stop trying to explain how the pistons fire in the engine block so we can focus more energy on creating a level of crypto access that requires zero technical understanding.


2 — What has been the toughest challenge you’ve faced in our industry so far?

Teaching young crypto owners about the tax incentive to donate crypto. It’s so hard to explain to a group of people who hodl at all costs that they actually end up with larger crypto positions when they donate crypto versus donating cash (they donate the crypto, then use the dollars they would have donated to buy crypto at today’s cost-basis. Voila — they…


Read More

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *