Giving Compass' Take:

• Fortune reports on GiveCrypto, a fund created by Coinbase CEO Brian Armstrong that aims to grow to $1 billion over the next two years, all in the service of ending poverty.

• Crytophilanthropy is still in its nascent stage and some fear the volatility that come with the territory, but bold ideas such as this one deserve attention, since blockchain contains the potential to break through traditional financial barriers. Is this the future of giving?

• Here's how cryptocurrencies are creating social change around the world.

The best way to help people out of poverty is to give them money — including cryptocurrency. That’s the thinking behind GiveCrypto, a new global endeavor to distribute bitcoin and other digital currency directly to people in need.

Donors will give the crypto funds to needy recipients, who can then decide to keep the funds in cryptocurrency or exchange them for traditional money. The charity aspires to raise $10 million by the end of this year, and grow to a fund of $1 billion in the next two years.

GiveCrypto is the brainchild of Brian Armstrong, the CEO of digital currency service Coinbase, who is launching the project with a personal $1 million donation, and is encouraging anyone who’s amassed crypto wealth — including Bitcoin, Ethereum, XRP, and ZCash — to kick in too.

“I started thinking about this last year when I saw all this money people were making in crypto,” Armstrong told Fortune. “The goal is to target people in poverty and economic crisis.”

Armstrong points to a growing body of research that suggests direct cash transfers are an efficient way to end poverty, as opposed to programs in which a large portion of resources may be consumed by administrative overhead. He also believes cryptocurrency is an ideal vehicle for transfers because it costs almost nothing to move money, and gives people who lack banking a way to control wealth with just their phone.

Read the full article about the new crypto charity fund from Coinbase CEO Brian Armstrong by Jeff John Roberts at fortune.com.