Catholic church jumps head first into blockchain technology and cryptocurrency

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ICOx Innovations Inc., which designs, builds and manages digital currencies so organizations can grow their businesses by attracting, engaging and retaining customers through the creation of their own digital currency, announced today a new customer, Cathio. Cathio is a public benefit corporation founded specifically in service of the Catholic economy.

Cathio is applying blockchain technology to offer an easy-to-use payment solution that responds to the needs of the Catholic community, non-profits, and institutions.

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. Cathio‘s website

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. –Steemit

“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 according to an ICOx press release. 

Through our ecosystem of services with a user-friendly interface, Catholiccoin connects the non-prot and charity community while enabling traceability and full transparency of donations. –Steemit

That’s a pretty big step for an entity as wealthy as the Catholic Church. While Cathio is attempting to make it very clear that this cryptocurrency will make payments and donations easier for Catholics worldwide, one can’t help but wonder just why they need more money, to begin with.

No one really knows how much wealth the Catholic Church controls, and the organization’s secrecy and obfuscation of the facts surrounding its wealth continue to confuse many. The Vatican’s cash flow is in the hundreds of millions a year, individual holdings in the Vatican Bank total perhaps $15 billion, property held by the Vatican may be worth over a billion dollars, and the Church owns the largest store of the world’s most priceless art.