Rick Santorum a Former US Senator is a noted Catholic, has come out in support of a for-profit organization that will “provide efficient, secure, and transparent movement of funds within the Catholic world.” The organization is called Cathio.
According to Matthew Marcolini, Cathio CEO in a release: “Cathio’s platform is designed to enable all sectors of the Catholic economy to benefit from lower costs and transparent payments,”
A tweet on May 31st from the official handle of the company, @CathioHQ reads:
“We have to be there (for Millennials), we have to learn from successful tech companies, and we have to provide a universal solution that makes it easy for younger generations to engage with the Church.” Cathio Board Member former Senator @RickSantorum.
“The Church is living in a time of great challenges with the laity asking, ‘What can we do?’ Well, Cathio is a lay initiative that not only strives to save the Church money but positions it to provide greater transparency of financial transactions and the connectivity of people of good will with good works.” Jim Nicholson, Former Ambassador to the Holy See and Cathio Advisor stated.
Details of this crypto service are a bit shabby as it seems like a traditional fintech play with a blockchain chaser and a ploy or incentive to boost interest in church for kids. Reportedly, the Cathio network users pay 2% to run their financial transactions through the system and the priests can take donations without any of the money passing through the morally bankrupt Silicon Valley payment providers. The app is sort of a Moviefone for churches which is an added bonus, as it allows one post photos and mass times on Cathio’s map.
Notably, Rick Santorum is the CEO’s father-in-law – and on the board, he wrote in a tweet recently:
“Millennials don’t carry cash, they date on apps and watch on-demand entertainment. We have to be there, we have to learn from successful tech companies, and we have to provide a universal solution that makes it easy for younger generations to engage with the Church,” “I am very excited to be part of a company dedicated to helping the Catholic Church connect with younger believers.”
The Cathio board also features Cameron Chell, chairman of ICOx Innovations. Chell and his team brought us the exciting and successful KodakCoin.
Another notable thing is the fact that parishioners to know where their donations are going and beneficiaries know where funds come from goes in direct opposition to Christ’s teachings which is related to giving anonymously.
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