BitPay to Help The New York Stem Cell Foundation Get Donations via Bitcoin

Bitcoin has a reputation of being the currency of the, to put it politely, “privacy concerned,” but over the past two years it has slowly developed a human face.

BitPay, the company known as “PayPal of Bitcoin,” is one of the companies responsible for making Bitcoin more acceptable in the US. Now, BitPay has teamed up with the New York Stem Cell Foundation (NYSCF) and enabling potential donors to send their donation via Bitcoin.

Commenting on the collaboration with BitPay, the Chief Executive Officer of NYSCF, Susan L. Solomon, commented that “through bitcoin, we can embrace new forms of giving to meet our donors where they are, wherever they are worldwide. As a private philanthropic organization NYSCF’s nimbleness and flexibility allow us to fund and conduct the most current and high-reward research. Working with BitPay allows NYSCF to extend our flexibility to our supporters.

Founded in 2005, the New York Stem Cell Foundation (NYSCF) works as an independent organization and focuses on speeding up stem cell research in the United States in order to cure patients. Its key research unit the NYSCF Research Institute and it operates in the state of New York, where NYSCF has around 50 researchers working to better understand how stem cell can be used to provide remedy to suffering patients.

Some of the key areas the NYSCF is focused on the ALS (Lou Gehrig’s Disease), Alzheimer’s Disease, Bone & Tissue Engineering, Cardiac Research and Repair, Diabetics, and Parkinson’s Disease. They have recently developed the NYSCF Global Stem Cell Array™, which is for the first time, creates and manipulates stem cell lines in a massively parallel process using automation.

Rory Desmond, the Business Development Director at BitPay, said in a press release that “NYSCF is taking an important lead in enabling donors to use bitcoin in their support of medical research in its field.”

“We’re excited to see how it will use this technology to make donations more affordable, more secure, and more accessible for international supporters,” he added.

Getting donation via Bitcoin would enable the NYSCF to open up a new channel for accepting donations and accelerate their research to find cures for some of the major diseases of the day.