Mozilla Foundation Removes Support For Proof-of-Work Crypto Donations

CryptoMode Iran Bitcoin Mining Multimine Kazakhstan Proof-of-Work Foundry USA

It is interesting to see how companies approach the concept of handling cryptocurrency donations. Mozilla, a well-respected non-profit, has recently updated its policy on which currencies to accept. Removing support for proof-of-work assets sends a strong signal to the industry, although it remains a curious decision. 

Mozilla Foundation And Crypto Donations

A recent blog post on the Mozilla Foundation website explains a pressing matter. The Foundation stopped accepting crypto donations in early 2022, surprising many people. After all, this option had worked fine since 2014, with support for various currencies rolling out ever since. However, the team decided that accepting crypto transactions conflicts with their climate commitments, forcing them to rethink their approach to this matter. 

Last week, a new update was provided with some good news. The Mozilla Foundation will resume cryptocurrency donation support, although some crucial changes will be made. No proof-of-work currencies will be accepted from this point forward. That includes Bitcoin, Ethereum, Litecoin, Dogecoin, etc. However, the Foundation will support proof-of-stake currencies as they have a much lower environmental impact. That may indicate Ethereum support will resume after the transition to proof-of-stake. 

That decision is influenced by the Mozilla Foundation’s commitment to our climate and reducing its carbon footprint. Proof-of-work currencies are very energy-intensive and are deemed harmful to the environment by many. Those claims have been proven wrong multiple times, yet the Mozilla Foundation does not acknowledge that evidence whatsoever. 

However, one can acknowledge the Foundation’s efforts to achieve and exceed a net-zero emission commitment. Expanding that vision to how people donate to the project makes sense, even if the decision is influenced by factually incorrect and heavily biased research. If this is how they want to operate moving forward, all the more power to them for being transparent about it.

What Does it Mean For Proof-of-Work Currencies?

The impact of the Mozilla Foundation decision is negligible. To date, the entity receives nearly all of its donations through other payment means, including credit and debit cards. The fact those payment methods are far more energy-intensive is seemingly irrelevant. One has to look beyond Visa or Mastercard to gauge the true environmental impact of payment cards. The banking system used to process payments is very electricity-hungry, yet no one seems to mind that. 

Whether entities want to accept proof-of-work currencies or not is their decision to make. There is no right or wrong decision, but the information leading to either outcome needs to be correct. It is not, and probably never will be, factual information influencing these decisions and discussions. 

That is unfortunate, as one would expect higher standards from an entity like the Mozilla Foundation. Proof-of-work currencies will truck along as they are programmed to do, and they do a more efficient and environmentally-friendly job than the banking system. 

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.