The Internet Archive, a US non-profit organization behind the large digital archive Wayback Machine, has received a $ 10 million cryptocurrency donation from the Filecoin Foundation.
According to a Friday Announcementthe Filecoin Foundation has donated 50,000 Filecoin (FIL) tokens to the Internet Archive, worth more than $ 10 million at the moment of writing. The grant is intended to help the Internet Archive increase access to its online library, including books, data, web pages, music and software.
In addition to the endowment, Internet Archive founder Brewster Kahle and partnership director Wendy Hanamura have joined the advisory boards of the Filecoin Foundation and the Filecoin Foundation for the Decentralized Web.
A digital librarian and computer engineer, Kahle Founded the Internet Archive in 1996 with ‘daring attempts to record the entire Internet’. He expects new technologies such as Filecoin will help further transform digital libraries by making them more decentralized:
“Libraries have always used the technology of the day, be it cuneiform writing in Sumerian-Babylonian times, or papyrus paper or microfilm. Today the internet archive is built on hard drives. We hope that new technologies like Filecoin will revolutionize the storage market and decentralize it. We are delighted to partner with an organization that shares a like-minded approach. “
The Internet Archive is an early adopter of cryptocurrency. The nonprofit is accept donations in major cryptocurrency Bitcoin (BTC) since 2011. Since its inception, the Internet Archive received a whopping 880 BTC to the publicly available Bitcoin address, with a total balance of 4.5 BTC, or about $ 270,000 at the time of writing.
The Internet Archive is now accepting donations in altcoins such as Ether (ETH XRP, Zcash (ZEC) and Bitcoin Cash (BCH) from publicly available addresses. The nonprofit, too allows donations in some other altcoins such as Dogecoin (DOGE) via cryptocurrency exchange Changelly.
The Filecoin Foundation’s donation to the Internet Archive comes amid Filecoin is experiencing a huge price increase, with the FIL token breaking through to the top 10 cryptos by market cap on April 1. After hitting its new all-time high of over $ 230 yesterday, FIL subsequently dropped below $ 190, according to data from CoinMarketCap. When published, the token is trading at $ 203, still up more than 100% in the past seven days.