Discover the World’s First Cryptocurrency for Charitable Giving
“Love is not patronizing and charity isn't about pity, it is about love. Charity and love are the same -- with charity you give love, so don't just give money but reach out your hand instead.”
These words, stated by the renowned nun and missionary Mother Teresa can motivate all of us and can teach us a great deal on charity.
The truth is that most of us have given money to charity, at least for a few times in our lives. Maybe you have done this even recently, online or to a fundraiser you met on the street, on your way home. But have you ever wondered where does this money actually end up? Or who makes the most of these donations?
Giftcoin - innovative platform that guarantees a transparent donation process
Giftcoin came to life for these particular reasons - so that every time you donate money to charity or nonprofits, you have absolute confidence that the funds are headed towards the objectives that were initially promoted and caught your attention. Why is confidence so important in this activity? Because trust in the charitable sector is at an all-time low; moreover, the research that Giftcoin made stated something worth mentioning: people would give 49% to good causes if they could see how their money is being spent. How much would this mean? $250 billion more that could potentially go to good causes, worldwide.
Blockchain technology offers a once-in-a-generation opportunity to fundamentally change the experience of charitable giving. By using the Giftcoin ecosystem, individuals will be able to easily and precisely observe how the money that they sent is being spent - this way, the transaction details such as dates related to certain phases or projects, stages reached, acquisitions will be displayed in a more transparent manner, in real time.
The importance of smart contracts
Moreover, through the use of smart contracts (for milestone payments), users will have confidence the charities are meeting the objectives they set at the beginning of funding campaigns or any type of new projects.
Smart contracts are used to that user can exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.
The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations (https://blockgeeks.com/guides/smart-contracts/).
When projects reach milestones, individuals will be able to vote if they are satisfied and only then will the charity be allowed to access the next stage of payments.
The team behind Giftcoin
The Giftcoin team is made up of seasoned entrepreneurs that have built multiple businesses and a charity with global reach.
Giftcoin’s collaboration with Charity Checkout, a leading charity payment provider, will allow this new platform to bring 2,000 charities to Giftcoin, from day one.
Learn more about this platform, how it will help donors and charities, find out all about the next phases of the project and the Giftcoin launch at:
For future viewers: price of bitcoin at the moment of posting is 8502.50USD