As part of a bid to preserve a historic park, a city in Japan is reportedly raising donations in bitcoin.
The city of Hirosaki, according to a report from national public broadcaster NHK, is collecting funds to maintain more than 2,000 cherry blossom trees, as well as a centuries-old castle.
Supporting the measure is Tokyo-based bitcoin wallet and exchange service Coincheck. According to figures posted on its website, 0.5749 BTC has so far been raised (worth roughly $720 at press time) from 40 contributors.
While small, the amount would no doubt help chip away at the expenses of the park in Hirosaki, as NHK reports the municipality spends hundreds of thousands of dollars per year on upkeep.
The broadcaster also suggested the digital currency has caught the attention of local officials who see it as a possible vehicle for addressing issues related to fundraising more generally.
“Deputy mayor Noboru Yamamoto says the virtual currency may provide a solution to other Japanese local authorities at a time when most are struggling to raise funds,” NHK reported.
Bitcoin has served as a donation tool for much of its history. Groups ranging from the Red Cross of America to Save the Children have turned the cryptocurrency into a way to collect contributions.
Hirosaki Castle Park image via Shutterstock
Coinbase Taps Twitter Vet to Bolster Customer Support Team
Cryptocurrency startup Coinbase has hired a former Twitter executive in an effort to shore up its customer support teams.
Tina Bhatnagar will serve as vice president of operations and technology, a
IMF Calls for International Cooperation on Crypto
The International Monetary Fund (IMF), an organization that aims to foster global monetary cooperation and financial stability, has called for global coordination on cryptocurrencies, warning of the r
Commodity Merchant Louis Dreyfus Trials Blockchain for Soybean Trade
Louis Dreyfus, a major commodities trading company, has announced that it has piloted a blockchain-based transaction system developed by a group of financial institutions including ING.
Bitcoin tanks more than 10% to below $11,000; South Korea announces details on crypto tax
Bitcoin and other major digital currencies dropped sharply Monday morning. Bitcoin briefly tumbled to a low near $10,234 on Coinbase around 11 a.m., ET, marking a loss of about 11 percent over
Vanguard chief: You will never see a bitcoin fund from us
Vanguard CEO Tim Buckley may think highly of blockchain technology, but he isn't planning in investing in bitcoin anytime soon. Buckley, who succeeded former chief Bill McNabb at the start of the
'I know you cheated on your wife.' Growing blackmail scam demands payment in bitcoin
"I know you cheated on your wife." Those chilling words were in a letter sent to Dave Eargle's home. The then-graduate student found the note in his mailbox and could not believe what he was
Canadian Research Body Pilots Ethereum in Transparency Push
The National Research Council of Canada (NRC), a government initiative, is trialing the ethereum blockchain for recording government contracts.
For the pilot, the NRC is partnering with blockchain
China Moves to Crack Down on Digital Currency Pyramid Schemes
China's public security ministry said on Friday that it will take aim at pyramid schemes in the country, including those that purportedly involve cryptocurrencies.
In a Jan. 19 statement, the Minis