The Internet Archive, the nonprofit digital library dedicated to providing "open access to all knowledge," has spoken out on why it accepts – and holds onto – the bitcoin donations it receives.
In a recent blog post, the organisation spelled out that it includes the cryptocurrency on its balance sheets – alongside other means of donation, including zcash – "to be a living example of an organization that is trying this innovative internet technology."
The post continued:
As a nonprofit, the archive has been accepting bitcoin donations since 2012, and has offered the digital asset as a salary option to employees since 2013. Local businesses around the Internet Archive office have also been encouraged to accept the currency – sometimes with success.
Rather than immediately exchange its bitcoin donations for fiat currency, however, the Internet Archive attempts to find ways to use them.
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"What we are doing is trying to 'play the game' and see how it works for non-profits," the organization said. "It is not an investment for us, it is testing a technology in an open way."
Internet Archive server image from John Blyberg/Flickr