If you buy and then sell a certificate, you aren’t funding the charity, the ultimate holder of the certificate is. They will only buy the certificate if they are interested in funding the charity.
You could pretend you are funding the charity, but that wouldn’t be true—the person you sold the certificate to would otherwise have bought it from someone else, perhaps directly from the charity. So your net effect on the charity’s funding is 0. I could just as well give some money to my friend and pretend I was funding an effective charity.
(I’m setting aside the tax treatment for now.)
You would pay an employee with certificates for the same reason a company might pay an emplyee in equity. If there is no secondary market, this can be better for the company for liquidity reasons, and can introduce a component of performance pay. But even if there is a secondary market (e.g. for Google stock), it can still be a financially attractive way for a company to pay a large part of its salary, because it passes some of the risk on to the employee without having to constantly adjust dollar-denominated salaries. (There are also default effects, where paying employees in certificates would likely lead to them holding some certificates.)
If you buy and then sell a certificate, you aren’t funding the charity, the ultimate holder of the certificate is. They will only buy the certificate if they are interested in funding the charity.
You could pretend you are funding the charity, but that wouldn’t be true—the person you sold the certificate to would otherwise have bought it from someone else, perhaps directly from the charity. So your net effect on the charity’s funding is 0. I could just as well give some money to my friend and pretend I was funding an effective charity.
(I’m setting aside the tax treatment for now.)
You would pay an employee with certificates for the same reason a company might pay an emplyee in equity. If there is no secondary market, this can be better for the company for liquidity reasons, and can introduce a component of performance pay. But even if there is a secondary market (e.g. for Google stock), it can still be a financially attractive way for a company to pay a large part of its salary, because it passes some of the risk on to the employee without having to constantly adjust dollar-denominated salaries. (There are also default effects, where paying employees in certificates would likely lead to them holding some certificates.)