What is GiftCoin?
GiftCoin is a platform that is aimed at creating the world's first transparent platform for holding charitable events. The platform is revolutionary in itself as it can encourage more and more people to take part in such events and give the charitable platforms something they are in dire need of, trust. The platform will not only help people to trust such events but other new social workers to quickly build trust among donors. Given the possibility of frauds, charitable platforms take a lot of time and effort investment to build trust, even in a small community.
To create a world in which every time you give money to charity and good causes you can have total trust that your funds are going exactly where you want them to.
Giftcoin Architecture (Proposed)
How it works?
After the donor sends a donation to the address, he can track the transaction in the blockroom. After the addressee pays for the goods or services to which the funds were allocated, a report is added to the detachment showing the donors what the money was spent on.
The use of smart contracts will eliminate the possibility of fraud on the part of the recipients. For example, if the money is intended to pay for the child's schooling, then they can not be spent on anything else.
In addition, smart contracts will be used to finance charitable projects. Each project will be divided into certain stages and its executors will get access to money gradually - as the work is done and intermediate goals are achieved. If the project fails or the work "rises", then donors will be able to return their money and donate them to something else.
At the same time, developers understand that it will be possible to ensure full transparency only after even the workers on the ground start accepting crypto currency as payment for work. Therefore, independent auditors will be used as an intermediate option, which will confirm that this or that intermediate goal of the project was achieved. And in the case of paying for the education of the child from the example above, for example, the management of the educational institution will be able to confirm the fact of payment.
Because of the need to monitor the use of funds at the final stage of the movement of funds, the Gifcoin blocker will be able to operate in a "partially offline mode." In this connection, the developers plan to use a private blocker rather than a public one. The main efforts of the team will be focused on adapting R3 Corda, as the most suitable for technical requirements. As an alternative, Ethereum is considered.
In addition, the developers refused to mine - all koin will be in circulation from the very beginning of the work of the detachment. This should help reduce volatility and increase the stability of the coin, which is critical for the needs of charity.
Token Name: Gift
Price: 1ETH = 10000 GIFT
Platform: Ethereum blockchain
Accepted currencies: BTC and ETH
Soft Cap: 25,000,000 GIFT
Hard Cap: 100,000,000 GIFT
Total supply: 1 000 000 000 Tokens
Minimum purchase: 0.251 ETH
Start date: 20th March, 2018
End date: 19th April, 2018
Use of proceeds
Tech development - 47%
Overheads - 5%
PR, marketing and sales - 29%
Legal and accounting - 12%
Admin - 7%
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