What are the Main Features that Make Giftcoin the Best App for Charitable Giving

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As many of you know already, UK is a nation of charity givers of which about 80% of British consumers have been giving to charity in the previous twelve months. Although they are giving, studies found that most consumers are concerned whether their money will reach the right destination and some of them believe that donations are absorbed by at least 50% which goes on office rent, salaries, administration, and advertising.

Therefore, if charities were more transparent, then they could radically increase the size of their donations. Alex Howard, co-founder of Gifcoin, told the press that "Salaries and office costs are absorbing too much. It is disappointing that the charity sector must now address”. Giftcoin comes with a solution, firmly believing that transparency is the key to the problem and that blockchain is the right tool that will deliver it. Let’s find out how this App makes charitable giving trustworthy.

1. Give as you spend on daily purchases

Giftcoin wants to make accumulating coins as simple as going about your life. The app will enable users to earn Giftcoin by rounding up their daily spending to the nearest dollar and converting the difference into the Giftcoin Wallet. They believe that the idea of Giftcoin round-up will become a key way to get people accumulating currency.

It's really great when you realize you actually have the sources to make an impact in this world and automatically support the cause you care about by only collecting small amounts. Because at the end of the day, this is really the issue most charities face when a project fails: they don't have the funds. Think about that spare change that is always in your wallet, and you never used. $0.30 from your coffee every day could really make an incredible difference.

2. Building trust through transparency

If you have the chance to read their whitepaper, you will notice that Giftcoin is all about creating transparency and trust in the giving process. They mainly focus on having absolute confidence that your money is going exactly where you choose to go.

Thanks to blockchain technology, Giftcoin allows users to track the path of their funds right until the point when they are spent. After donating, they will receive regular updates from that charity, which gives them a powerful sense of connection to the particular cause he supported.

Therefore, transparency does not only contribute to a closer relationship between the donor and charities, but as donors share with the rest of the community the impact they have seen, the amount of money donated globally will increase dramatically. After all, it is expected that when you know exactly your funds are reaching the right hands, it makes you want to give more.

3. The Power of a Smart Contract

A third reason that makes Giftcoin incredible is the power of smart contracts. This stands at the core of their long-term vision, based on end-to-end giving process. Here is how it works:

By utilizing blockchain based smart contract in the token, Giftcoin gives the possibility of realizing funds in stages. This system breaks a project into major milestones. Funds are released in stages only when these milestones are achieved. If a project fails, the funds not yet spent will be returned to donors who can choose to donate these for a new project. Moreover, Giftcoin will eliminate an issue that's been in the charitable giving sector for a long time: transaction fees. Smart contracts will make donating possible without paying for operation costs and services of the organizations carrying out the campaigns.

To find out more information about Giftcoin, check out the official website at https://www.giftcoin.org/ and pre-register for the public sale. You can also download the whitepaper at https://www.giftcoin.org/GiftCoin_Whitepaper.pdf
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