Restoring Trust In Charitable Giving With Blockchain Technology!
Did you know that 1 in 3 people donate to charities worldwide? However, most people do it just for the feeling it gives them as they know the majority of the funds do not reach their final destination. As nefarious as it sounds, big companies create front-operating charitable foundations just for money laundering.
Sometimes this is done in plain sight as with a slew of taxes that incur from the transfers only a fraction gets to the actual people in need or cause they are donating to. The reputable charities are also having a hard time because of these rackets by putting all organisations in the same basket. Blockchain technology can solve these issues by implementing a distributed architecture of the operation!
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Humancoin: Innovating the way we think about charity!
The team behind Humancoin have developed an ecosystem where people can donate to their favourite causes and charities while making sure that the funds arrive in full at their destination. By primarily using a blockchain donators can bypass any taxation, and their entire sum is being transferred to the receiver.
As charitable giving is a tax-deductible transaction, Humancoin can provide blockchain receipts that users can then prove to the authorities where their funds went precisely.
With the distributed ledger architecture comes an unparalleled level of transparency and security as every transaction is stored and can be queried if needed. Humancoin is continuously searching for charities to add to their platform as causes worldwide can participate.
What is “Proof of Charity”?
Whatever donation you make through the Humancoin ecosystem the system will give back 50% back in tokens to the users, and this would be considered the “mining” process of the platform. If the Humancoin gets traction, with the help of “Proof of Charity” the operation will scale automatically. Users then have more options to use their tokens; they can exchange them for their store of value or benefit from the special offers that the platform has with multiple e-commerce brands where they can receive special bonuses.
This way, the retailers benefit from the increased intake of new customers, and charities get more donations as more people join the platform. Here are some of the causes that Humancoin will serve, but not limited to:
- Education
- Humanitarian relief
- Healthcare
- Religious purposes
- Sustainable living
The cryptocurrency space and blockchain technology are relatively new and sometimes controversial, but projects like Humancoin can bring trust into the market by having a noble cause behind it that works. The Smart Contract of Human is built to trace any transaction in real time, oversee the token emissions and the “Proof of Charity” system once the token sale event is over.
You can already purchase tokens as the presale period is in full swing ending on the 15th of August. Next time you think about making a donation, consider the Humancoin project as it was never more comfortable and more convenient to do good deeds and visit our Website, ANN and Bounty Thread
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