This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The American Cancer Society (ACS) has partnered with Gitcoin, a leading figure in open-source funding, to leverage web3 technology for philanthropic purposes. This collaboration marks a significant milestone for ACS as it enters the decentralized world of web3 and utilizes Gitcoin’s expertise to drive its ACS Cares program and Crisis Response Fund. The ACS round, separate from Gitcoin’s regular Grants program, aims to directly benefit the ACS Cares program and Crisis Response Fund by channeling donations towards groundbreaking cancer research, health equity initiatives, patient support programs, and essential lodging for cancer patients undergoing treatment. This partnership represents the intersection of technology and philanthropy, harnessing the potential of blockchain for impactful healthcare outcomes. Gitcoin, known for its pivotal role in the web3 ecosystem, has dispersed over $50 million through its innovative Quadratic Funding (QF) mechanism, which values the number of contributors over the total donation amount. By utilizing Gitcoin, ACS gains access to a vibrant community of technologists and crypto enthusiasts passionate about driving positive change. This collaboration combines Gitcoin’s blockchain expertise with ACS’s commitment to cancer research and prevention, creating a powerful synergistic effect in the fight against cancer. The ACS round powered by Grants Stack presents a unique opportunity for individuals and organizations to contribute to the fight against cancer using blockchain technology. The collaboration has garnered enthusiasm from Kyle Weiss, Executive Director at the Gitcoin Foundation, and Nicole d’Avis, Protocol Lead at the Public Goods Network (PGN). PGN, operating as a low-cost Layer 2 OP Chain, directs net sequencer fees towards public goods, providing a cost-effective alternative to the Ethereum mainnet for users and developers while generating funds for public goods. Gitcoin and PGN have revolutionized how public goods are supported, creating sustainable and reliable funding sources for initiatives that serve the greater good. ACS’s venture into web3 with Gitcoin not only serves as a fundraising initiative but also showcases innovation in the philanthropic world. By adopting blockchain technology and community-driven funding, ACS is advancing its mission to combat cancer and setting a precedent for other non-profits to explore the transformative potential of web3.