(Tea Party 247) – The Catholic church has officially jumped into the blockchain and cryptocurrency world.
Welcome to 2019.
ICOX Innovations Inc. designs, builds, and manages digital currencies so that organizations can attract, engnage, and retain customers through the creation of their own digital currency.
They recently announced a new customer, Cathio, a public benefit corporation founded specifically to service the Catholic economy.
Cathio is using blockchain technology to offer payment solutions for the needs of the Catholic community, non-profits, and institutions.
Their website explains:
Cathio was founded in 2018 and is working to transform the way the Catholic community moves money. By bringing innovative technology and best practices from the tech world, Cathio is providing a turnkey solution for Catholic organizations to bring their financial transactions into alignment with their beliefs. Cathio was created to address the needs of the Catholic church.
— Catholic Blockchain (@cathblockchain) June 3, 2018
A blockchain-based charity and non-prot cryptocurrency, Catholiccoin seeks to provide an all-in-one solution to how we donate transparently on the Ethereum Blockchain. We are aware of the disruptive power of Blockchain technology and that the adoption of cryptocurrencies will significantly influence how we donate to charity in the future. As a result, Catholiccoin aims to play a tremendous impact on this innovative period of fundraising.
“We are excited to announce our new customer Cathio, which will provide the first of its kind payment, remittance, and funding platform that will enable the Catholic economy to save money and position it to provide greater transparency of financial transactions and to connect the Catholic community,” said ICOx Innovations President Bruce Elliott in a press release.
This is a pretty noteworthy step for an organization as massively wealthy as the Catholic Church to take.
While Cathio tries to make clear that this crypto currency will make payments and donations easier for Catholics across the world, we simply can’t help but wonder why they are also trying to grow their wealth by doing so.
It’s actually difficult to say exactly how much wealth the Catholic Church really controls, and their secrecy surrounding the capital of the centuries old institution don’t help.
The Vatican likely takes in hundreds of millions of dollars alone, while individual holdings in the Vatican Bank in total is around $15 billion.
Property owned by the Vatican may be worth over a billion dollars, and the church owns the largest store in the world of priceless art.