In recent years, charity projects in general did gain a bad reputation when it became clear that a relatively large part of the donated money was not used for what donors were told it would be used for.
One of the advantages of blockchain technology is the possibility of transparency. Transactions can be made public and the money can be tracked on a public ledger. For charity projects, this is an ideal way to win back the trust of their donors.
PAWS is such a charity project that has chosen to use blockchain technology for their activities. I came across the project because they have recently been listed on CoinMarketCap. PAWS is an acronym for Pets Animals Wildlife Society and its mission is to provide animals with the basic necessities for a happy and healthy life, including love and care. PAWS is built by animal lovers for animal lovers. With the use of blockchain technology.
But transparency is not the only utilization for PAWS. Once completed, Paws is going to provide a platform to better initiate and organize pet and animal care activities by utilizing a variety of innovative solutions based on blockchain. You can think of:
• Cryptocurrency and payment system
• Open and transparent ledger
• Rewards and savings system
• Social media platform and forum
• Crowdfunding platform
• Donation tracking tool
• Pet-friendly locations directory
• Unique pet identity
• Pet tracking registry
• Pet tracking technology pet collars
• Animal Cruelty rescue hotline
Yet transparency is an important theme that is consistently implemented in everything PAWS does. A lot of information is shared on their social media channels, the team behind the project is known and very active and open, there is a clear roadmap with achievements available and recently PAWS is also KYD verified. What is KYD? Well, KYD stands for Know Your Developer and is a prestigious project that is responsible for carefully verifying the legitimacy of a project to protect investors and supplier for scam and fraud.
Mid November the PAWS-team also announced a strategic partnership with their first Trusted Partner, named Carebit. But an attentive reader will have seen that Ian Cubitt, CEO and co-founder of PAWS, is also General Manager of Carebit.org. So that partnership probably was a logical step. Carebit already launched their donations tracking tool, which will also become available early 2019 for the PAWS project.
The 2nd co-founder and CTO of PAWS is Jules Dubois, a young engineer from France who is also working for Carebit.
These guys clearly have their heart at the right place and they are truly aiming to bring charity to the blockchain. This is not a pump and dump crypto-project designed to gain some big wins on short notice for the dev team.
PAWS has chosen to create a cryptocurrency, as it is one of the best modern methods for instantaneous transactions and minimal transaction fees. We feel that this allows for contributors and donors to be able to have more of their donations directly support the cause or campaign to their choosing, rather than getting gouged by third party service fees. Utilizing blockchain technology allows for transactions to be more easily tracked on an open, public ledger. Now, everyone can see exactly how much funding or resources are sent, received, and where they go.
PAWS utilizes masternodes as a way of validating transactions on the blockchain. This not only provides a more safe and accurate way to verify data, but also creates a faster network. Members are able to set up a masternode(s) and contribute to the network. In return, they receive rewards that are paid in PAWS.
Summary of the coin specifications (token metrics):
• The coin name will be PAWS.FUND with ticker PAWS
• It is a Community backed, fully pluralistic governance model.
• Heavily Secured, efficient, frictionless, Proof-of-Stake, blockchain powered, with masternodes!
• They offer a fully transparent blockchain explorer and tracking for any and all use of PAWS funds.
• There will be a total supply of 21 000 000 PAWS of which 500 000 PAWS are pre-mined.
I'm a huge fan of Masternodes, because of their passive income aspect. Setting up a PAWS Masternode requires 1000 coins (with todays price that would be an investment of ~$750) and in return you will not only earn rewards yourself, but at the same time you are actually donating to charity. 10% of the block rewards are reserved for donations, while another 10% will be added to the operational fund.
People who are not able to purchase a full Masternode can instantly start earning rewards by joining a shared Masternode on StakingLab. They don't require a minimum deposit, so even with only a few coins in your bag you can still reap the benefits. We are convinced that the use of blockchain technology helps to restore and gain confidence in charity projects again. Transparency allows donors to clearly see what happens to their donation, which will also make people more generous. And that is in favor of all the animals that are being taken care of by PAWS.
In addition, due to the rewards the masternodes most likely will generate, it is also interesting to invest in this project though the masternode option. It takes less than a month to double the number of coins you have, so this provides you with a good opportunity to collect yourself a bag of PAWS. You can earn by doing good.
Keep an eye on this project, because within 5 years you will encounter PAWS everywhere in the world. Can PAWS also count on your support? For more information visit their website, their Discord channel or check their forum for all the news and the latest updates. A white paper is promised to be released around Christmas.