- The Manny Pacquiao Foundation is set to use the Shibarium blockchain for its fundraising and operational activities.
- Shibarium, a Layer 2 blockchain solution, offers enhanced transaction efficiency and has recovered from its initial launch issues to process thousands of transactions daily.
Manny Pacquiao Foundation Leverages Blockchain Technology
The Manny Pacquiao Foundation, led by the celebrated eight-division World Boxing Champion Manny Pacquiao, has announced its decision to utilize the Shibarium blockchain. This strategic move aims to optimize the foundation’s fundraising efforts and streamline operational processes.
The Foundation’s Mission and Blockchain Adoption
The Manny Pacquiao Foundation is renowned for its commitment to providing urgent assistance to those in need around the world. According to Jon Sisson, Executive Director of the foundation, the integration of Shibarium will enable the organization to scale up its operations and extend its reach to millions more in need.
Understanding Shibarium: The Chosen Blockchain
Shibarium, a Layer 2 blockchain built atop Ethereum, is designed to facilitate more cost-effective and swift transactions. Layer 2 solutions like Shibarium operate off-chain, resolving bottlenecks and enhancing speed, which is critical for organizations like the Manny Pacquiao Foundation.
Overcoming Initial Setbacks
Initially faced with a botched launch in August, Shibarium has since demonstrated resilience and efficiency, now processing thousands of transactions daily. This recovery underscores the blockchain’s reliability and suitability for high-volume transactional activities such as those undertaken by charitable foundations.
Shiba Inu Ecosystem’s DeFi Ambitions
The Shiba Inu ecosystem, from which Shibarium originates, is making strides in the decentralized finance (DeFi) sector. With its popular SHIB token, inspired by the Shiba Inu dog breed and Dogecoin, it has emerged as a major player among meme coins since its inception in August 2020.
The Future of Blockchain in Charitable Foundations
The Manny Pacquiao Foundation’s adoption of Shibarium might set a precedent for other non-profits and charitable organizations. By leveraging blockchain technology, these entities can improve efficiency, transparency, and the overall impact of their philanthropic efforts.