Giftcoin introduces blockchain to charities

What does Giftcoin aim to achieve and how?

Blockchain start-up Giftcoin aims to introduce trust and transparency to charities. The token sale to launch this platform has began in December last year.

The technology behind Giftcoin seeks to revolutionize charity as we know it. This mainly implies with regard to tracking, as well as the relation between donors and charities. A major keyword here is: trust. Namely, with this platform donors can have a comprehensive understanding of how and where their donations are used.

How does it work in practice? Each donation is converted into Giftcoin’s cryptocurrency. So, with each purchase, the platform rounds up the amount and converts the extra to Giftcoin. Thus, with the use of blockchain, the user can precisely track the later route of the donation. Also, the use of blockchain provides clear evidence of each transaction. A Giftcoin user can automate their monthly donations, let their cryptocurrency accumulate or select different charities manually each month. When the user’s Giftcoin accumulates, they can select which charities to support on the platform. Every donor receives a notification on when and how their contribution is spent. Furthermore, the technology behind Giftcoin elevates fundraising by boosting sharing on social media. That way, every donor becomes a public advocate of an individual charity and helps raise awareness.

Additionally, Giftcoin aims to decrease transaction fees. Most of major fundraising websites charge up to 5%, plus credit card fees. The feeless system behind Giftcoin means that the entirety of the donations will go to the charity organization.

The Giftcoin platform user will have more donating opportunities, especially with the micro-donation option in which purchases get rounded up to the dollar and are used to buy Giftcoins for chosen charities. For owners of cryptocurrencies, this will also create the possibility of direct donations.

Who is behind Giftcoin?

The team behind Giftcoin consists of experienced entrepreneurs and societal change-makers. In addition, its advisors and supporters include experts in the fields of charity, non-profitable endeavors, investments and blockchain.

Who has come on board?

The Optimum Health Clinic Foundation, Enhance the UK, Ourmala, English Heritage, Grief Encounter, Best Beginnings and Scotty’s Little Soldiers. These are only some of the partner charities that became involved with Giftcoin.

Some quotes about Giftcoin

Jon Duschinsky, entrepreneur and social innovator, stated that Giftcoin represents a potential way to bridge the gap between making donations and their spending. He added that this platform could effectuate an entirely new manner of social contribution.

Lady Astor of Hever, a 20-year charity veteran, involved with the likes of the National Autistic Society and Parkinson’s UK highlighted Giftcoin as a revolutionary concept. She went on to add that this platform marks the clear path from donation to a specific project. “It is an open, protected and satisfying digital method of giving,” Lady Astor said.

Giftcoin co-founder Alex Howard stated that his main focus when establishing it was to build trust and connect with the public. He underlined transparency as the main feature which differentiates this platform, and the fact that blockchain can be the tool to achieve that.

Further steps and conclusion

Giftcoin seeks to become a platform that helps create a different world. One in which giving to charity would imply complete trust and control.

It also provides the user with a wide variety of reputable charities, low commission and precise tracking of their donations. Thereby, unlike other charity platforms, the user would receive opportunities to help the neediest, in the most precise and controllable manner.

Giftcoin’s token sale had begun on December 11 2017. The aim is to use the funds to develop the prototype platform, which will be released in May of 2018.

Next step in the Giftcoin roadmap is the First Token Event, scheduled for March 2018. Namely, Giftcoin will begin selling on March 20 2018. Finally, the full version of the Giftcoin platform is planned for next October.

We are looking forward to this date. Not least because its founders have announced it as a seismic shift in the way we think of and conduct charitable endeavours.

For more visit : https://www.giftcoin.org

SHARE