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Wednesday, March 21, 2018

Crypto for charity...

Currently, there's two interesting stats at odds with each other.  Charitable donations are at a high of $500 billion per year. While at the same time, polls suggest trust in how charitable organizations use their funds is at an all time low.

What better way to address this than with blockchain technology?  Accountability, and the lack of the ability to 'fudge the numbers' are among the most widely discussed advantages of the tech, and applying it to a sector suffering from public mistrust presents a win/win opportunity for both those donating, and the legitimate organizations seeking donations.

So today we're taking a look at a company addressing these issues with a cryptocurrency based platform that takes these issues head on.  The company involved is called "GiftCoin" and they propose a better way to do things.

The platform works like this:  First, provides a place for charities to list their projects, individuals as well (think GoFundMe) these will be browseable online for anyone to see.

Then, they facilitate the donation process, in cryptocurrency or USD.

Lastly, Giftcoin promises to "show you exactly when and where your money is spent."

"By giving absolute trust and confidence, we believe donors will choose to give more money to the causes they care about. At a time in history of seemingly endless natural disasters, the refugee crises in the Middle East, and a greater divide between rich and poor than ever before, the need has never been greater for such a platform." explains the company.

They're kicking off with some impressive partnerships as well, with charties already signing on to use the platform when it goes live in October including English Heritage, Optimum Health Clinic, Enhance The UK, Grief Encounter and more.

Giftcoin's token sale is live now at https://www.giftcoin.org

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Author: Adam Lee
Asia News Desk