Giftcoin yields the change in the charity model
Is the world charitable? It surely is. The donations are a part of a big industry and it could become even bigger. The US non-profit charity organizations have more than 2 trillion USD profit per year. Of course, not only wealthy or rich people give charity but also pretty average ones. The only thing that prevents donations from being bigger is a low transparency. If the charity system was totally transparent worldwide, the donation volumes would increase extremely. And that’s normal, while people wish to give more for good things when they are aware of what they spend their money on.
The philanthropic organizations are not unlimited in receiving their funds. They get funds by using different online services. But such services have pretty high fees, from 2% to 5%. Individuals still are able to give cryptocurrency as donation by means of converting funds to Bitcoin and donate them through Fidelity Charitable service. However, the system is still far from being perfect, it is not efficient and difficult to use. Besides, current platforms are very expensive.
The blockchain effectiveness could make the donations require no fees, i.e. you could exactly see where your money goes, as well as you would not have to spend any extra fees when donating. Giftcoin is going to make a revolution in the universe of donation and charity. The platform is going to solve the problem of millennial giving, while there is a huge issue of trust lack among millennials in the sphere of donation.
Giftcoin is formed for charities to create involvement and confidence with donors. It gives the opportunity to control the influence of the donations, thus, the sponsors are sure their contribution is used for the purposes intended. The tracking procedure has several stages giving a chance to feel the worth of the sponsors’ aid. The donors can also share the information in their social networks making other people become donors in future as well.
What is the concept of Giftcoin?
The platform gives each donor total security in the system he uses thanks to a safe and proved framework. The end-to-end donation feature allows donors to control each stage. Moreover, if the project fails, the contribution can be refunded to a donor. The donation is fulfilled in Giftcoin, a transaction is performed based on the blockchain technology, and the recipient gets a limited amount in Giftcoin. After that, there will be a record sent back via blockchain disclosing each purchase, so the donors can see how the contributions are spent, and the block will be added to the chain ensuring a transparent transaction record. At the very end, the money is used for discussed services or goods.
Giftcoin aims to avoid the algorithms of proof of work, have a semi-offline mode, and handle huge volumes of transactions.
What are the key features of Giftcoin?
- Huge volume of transactions
- Absence of PoW or public mining
- Not homogeneous ledger network
- Adapted for those networks having really low edge bandwidth
- Very low converting fees
The token sale is currently live; it started on the 20th of March. The exchange rate is 1 ETH/6.000 GIFT. The accepted currencies are Bitcoin and Etherum. Total supply amount is 1.000. 000. 000 Tokens.
Project Video:
I have personally waited something like this. Indeedly everytime I give to charity, I wonder how much of it actually helps the target. This might be game changer.
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