Charitable organizations move the world. From funding cancer research to providing food and shelter to the underprivileged. Organizations and foundations for humanitarian missions are always not for profit and rely on donations for working.
One would understand that such good causes should be promoted at all levels, yet there are fundamental issues that plague the charity sector. First, the donations made are routed through (and to) banks and other financial institutions that charge for their services. Secondly, the money collected itself is not guaranteed to find its true use. Every year, there are reports on mismanagement of resources by big charity organizations. Thirdly, funds transferred to governments and nations for improving their citizens’ life is again, a grey area when it comes to auditing fund usage.
This has had a great impact on credibility of charity organizations and their missions in the eyes of the public.
Greed Secure And Intentions Pure: Giftcoin
Giftcoin is a Blockchain based charity organization that utilizes the secure and transparent nature of decentralized ledgers to ensure end to end tracking of donations made to charity organizations and missions.
The plan is very simple, yet extremely effective. First, the issue of greedy and money making financial institutions are eliminated from the equation by using cryptocurrency as a means of making donations. The decentralized digital money is directly sent from a donor to the charity of his or her choice. Without the banks being involved, there are no high transactional charges and the full amount is received by the charity.
Secondly, with all kinds of transactions on record and open for public scrutiny, money sent cannot be illegally diverted either by greedy charity employees or corrupt government officials of receiving nations.
The platform allows for smart contracts to be set up by donors, where, instead of all fund being released to charities in one go, restricted amount of currency is released in stages as milestones are achieved. In case of charity not fulfilling its commitment, the donation is returned to the doner.
Partnering With Big Names
In order to bring transparency to the charity sector, Giftcoin has announced a collaboration with Charity Checkout, a charity payment provider that has more than 2000 charities on board. A number of leading UK and international humanitarian causes have also joined up with Giftcoin, such as English Heritage ( an organization dedicated to the preservation of over 400 historic sites all over the UK) and OURMALA (a yoga based therapy organization for people who have been abused and trafficked).
Giftcoin As A Transparent Currency
Giftcoin, as a token of transferring monetary value, is made to be as transparent as possible through Blockchain’s inherent public records. This gives donors the ability to access how exactly their money is being spent.
The token will be available to accredited backers through its generation event that will start on 20th of March. The platform hopes to raise $10,000,000. Minimum backing of 0.25 ETH is acceptable with pre registration getting a 10% bonus. There are further discounts of 25%, 15% and 5% within the first 24 hours, first week and second week respectively. The tokens are available at an exchange ratio of 1 GIFT per $0.10
For more information visit the website:https://www.giftcoin.org/