For most people of all cultures around the world, it is so hard not to be skeptical when it comes to generous acts, more specifically to give away money out of their pockets. Whether it is about helping a homeless person or contributing to the education of children from the Middle East, the truth is, no one will tell you exactly where your money goes. Indeed, some people trust charities, but most of us don't. Thanks to blockchain technology and its transparency, with Giftcoin you can now trust that your money is going to those people who are in need of it.
What is Giftcoin?
Giftcoin is a new platform created to revolutionize the charity world. Giftcoin believes that through absolute trust and confidence, people will be more willing to donate money to the causes they care about. When there is trust in the giving process, people will change their perceptions.
Why blockchain based?
“Blockchain offers an exciting opportunity to charities. By being more transparent, charities could significantly increase funds” says Alex Howard, co-founder of Giftcoin. Here are a few other reasons why blockchain represents an advantage for this project:
Blockchain allows donors to track the path of the funds donated to a charity or a good cause until the point it is spent.
The process of tracking the impact of donations will give charities the opportunity to build a deeper relationship with their donors.
Moreover, sharing these impacts and the value of their work via social media will inspire people to get involved, resulting in increased donations.
Thanks to the blockchain, donations made in Giftcoin have no fees. Unlike other platforms that charge you a few processing funds, with Giftcoin, you are not wasting any costs in the process of giving.
The Giftcoin system divides charity projects into key milestones. By utilizing a smart contract, donors can choose to donate money in stages, when the project they support has reached these milestones. If a project fails, the funds not yet release will be returned to donors.
The team of founders behind Giftcoin is made of five passionate and committed individuals who have the desire of making a change in the world. They are designers, entrepreneurs, engineers and blockchain enthusiasts. On the Giftcoin’s charity advisors list, you will find a few authors and successful entrepreneurs. For instance, Jon Duschinsky, co-creator of the very popular ASL Ice Bucket Challenge, who was recently voted as the world’s second most influential communicator in social innovation.
Giftcoin Token Sale
As any other platforms, Giftcoin needs public support. The Giftcoin ICO is estimated to start on 20th March 2018 with a goal of raising between $2.5 million and $10 million. This first sale is only available for pre-registered participants.
Would you like to know more? Visit the official website at https://www.giftcoin.org/ where you can learn how to accumulate giftcoins, how to donate and how to track your money.
Alternatively, you can download their whitepaper for more information here: https://www.giftcoin.org/GiftCoin_Whitepaper.pdf