The Internet Archive, the American non-profit organization behind Wayback Machine’s digital archives, has received a $ 10 million donation from the Filecoin Foundation.
According to Friday’s announcement, the Filecoin Foundation has donated 50,000 Filecoin (FIL) coins to the Internet Archive for over $ 10 million at the time of writing. The scholarship is designed to help the Internet Archive expand access to its online library, including books, data, web pages, music, and software.
In addition to the donation, Internet Archive founder Brewster Kahle and Partnership Director Wendy Hanamura have joined the Filecoin Foundation and the Filecoin Foundation’s advisory boards for the decentralized network.
Kale, a digital librarian and computer engineer, founded the Internet archive in 1996 with “a bold attempt to register the entire Internet.” He expects new technologies such as Filecoin to further transform digital libraries by making them more decentralized:
Libraries have always used the technology of the time, be it cuneiform in the Sumerian-Babylonian period, papyrus or microfilm. Today, the Internet archive is created on hard drives. We hope that new technologies such as Filecoin will revolutionize the storage market and decentralize it. We are happy to work with an organization that shares like-minded people. ”
The Internet Archive was one of the first to introduce cryptocurrency. The nonprofit has been accepting large cryptocurrency (BTC) donations since 2011. Since the beginning of ts, the Internet archive has received up to 880 BTC to a public bitcoin address with a total balance of 4.5 BTC, or about $ 270,000. while. …
The Internet Archive now accepts donations in alternative digital currencies such as Ether (ETH), XRP, Zcash (ZEC) and Bitcoin Cash (BCH) via public addresses. The nonprofit also allows donations of a number of other altcoins such as Dogecoin (DOGE) through the Changelly cryptocurrency exchange.
The Filecoin Foundation’s donation to the Internet archive is due to a sharp increase in Filecoin prices: On April 1, the FIL token entered the top 10 cryptocurrencies by market value. Less than $ 190, according to CoinMarketCap. At the time of publication, the token is trading at $ 203, which is still over 100% over the last seven days.