Oliver Phelps, one half of the beloved Weasley Twins, has become the Global ambassador for Giving to Services, one of the world’s first cryptocurrency based donation platforms designed specifically to give back to public sector workers and use blockchain for good.
The new platform will utilize cryptocurrency staking to give money back to those working in our essential public services, starting with the initial rollout amongst UK NHS workers. Conceived in 2019, Giving to Services was built to recognise, reward and serve public sector workers who often face financial uncertainty due to pay cuts, and inflation linked salaries.
The new initiative will work in conjunction with a decentralised, Ethereum-based cryptocurrency called SVS. SVS is an audited digital currency owned and operated by Giving to Services which is currently trading on Uniswap – the largest decentralised exchange.
Through the platform, any user will be able to buy SVS cryptocurrency to store or stake the coins onto the cryptocurrency network using a process called staking*. When staking tokens, SVS token owners are rewarded with an appreciation value, meaning their staked tokens earn them a physical APY (annual percentage yield, which is similar to an APR amount on a traditional bank account).
As their investment grows a 4% administration fee is deducted and donated to Giving to Services who then redistribute it to public sector workers registered with a Giving to Services account as well as directly donating to trusts and associated charities such as Well Child. This means they can earn an extra income without purchasing or investing in SVS themselves – this is a passive income, which Giving to Services believe is absolutely required when so many NHS staff are financially vulnerable.
In addition to giving back to individual registered workers, Giving to Services will also be running a public donation grant scheme to support positive change and help people and projects in need of extra funding.
Oliver Phelps said the platform will provide a much-needed financial buffer to those in the public sector who work tirelessly for everyone else but themselves: “Public sector workers have always worked with the sole intention of serving our communities but often find themselves being poorly looked after, especially when it comes to remuneration. Giving to Services is leading the charge in crypto philanthropy by giving public service workers access to bespoke decentralised tools which allow them to generate a new passive income.
“As salaries remain linked to inflation and often only increase by single digit percentage figures, Giving to Services has been created to help provide a financial buffer to those who deserve it. Whilst we’re starting with NHS workers, in the future we’ll be rolling out the platform to all public sector workers, including education, government, armed forces, the police and fire services.”
The initial platform will be web-based, accessible through desktop or smart phone browsers, but Giving to Services also has plans to launch a smartphone-based app to make accessing funds and staking currency even easier.
Alongside the platform, Giving to Services plans to launch additional products including a decentralised pension pot accessible at any time not only at retirement age.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No People Reportage journalist was involved in the writing and production of this article.