Until now, Wikipedia accepted donations in several cryptocurrencies such as Bitcoin, Bitcoin Cash or Ethereum.
Wikipedia's parent company, the Wikimedia Foundation, has announced in a lengthy document that it will no longer accept cryptocurrency donations. Until now, the company accepted donations in Bitcoin, Bitcoin Cash, and Ethereum.
The Wikimedia Foundation considers cryptocurrencies to be a high economic risk, while noting that Wikipedia should not participate in the use of cryptocurrencies. technologies that are “inherently predatory.”
The statement goes on to note that Cryptocurrencies do not align with the Wikimedia Foundation's commitment with environmental sustainability. In this regard, they point out that Bitcoin and Ethereum, the two most widely used cryptocurrencies, use Proof of Work consensus mechanisms, based on mining, which have very high electricity consumption.
On the other hand, users who are in favor of continuing to accept donations in cryptocurrencies have pointed out that most large projects are using Proof of Stake consensus mechanisms and renewable energy sources, which do not harm the environment. Among the arguments in favour of continuing to accept cryptocurrencies are those that point out that they are a vehicle for obtaining financial freedom and that, in oppressed countries or with economies in danger, they are a tool for economic growth.
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The Wikipedia community against cryptocurrencies
The decision to stop accepting cryptocurrencies has been taken by the community itself. In this sense, it was the users who presented this debate, in which they have almost 400 users participated, which began in mid-January and ended in mid-April. The final vote was 232 to 94, meaning that 71,17% of users prefer not to accept cryptocurrencies.
In this sense, what will the Wikimedia Foundation to close its Bitpay account, meaning it will no longer be able to accept cryptocurrency payments directly. However, Wikipedia's statement also noted that the Foundation will remain flexible and will continue to listen to the requests and needs of its volunteers and its community, as this is a constantly evolving scenario, so the decision could be reversed in the future.
In this regard, the Wikimedia Foundation began accepting cryptocurrencies for donations in 2014, as volunteers and users began to demand the implementation of crypto for such actions.
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