Charities sentiment: All time low!
Charitable giving is a vital part of our society. Studies show that the vast public still believes that. However, this public support cannot be taken for granted. Since the monitoring began, back in 2005 the confidence levels have dropped from 67% to 57%. These levels should be a wake-up call for the people who support charitable giving and charity work. Some of the factors that contributed to this downfall might be:
• Poor fundraising awareness
• Lack of data sharing
• Damage to commercial relationships
• Veiled companies that extort money through charity
With these factors taken into consideration, significant charitable causes have a lot of work to do, to restore the public’s trust in their work. However, it’s not entirely their fault, the bureaucratical systems and laws in place sometimes impede the charitable giving process thus only the interested people get to donate to the causes they believe in! With the help of a disruptive technology such as blockchain, all of this could finally change!
Giftcoin: charity on the blockchain!
Giftcoin is a cryptocurrency that is designed to take the world of charitable giving by storm. With the current shattered confidence into the charitable sector, Giftcoin promises an unparalleled level of transparency by employing a state of the art trustless ecosystem and a decentralized distributed ledger that will account every transaction and every step taken. Think of giftcoin as more than just your average altcoin. The Giftcoin charitable system can transform the public’s attitude towards giving and even towards the space of cryptocurrencies as a whole.
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How much of your donation actually reaches the destination?
Say you donate a sum of money towards a cause you believe in, do you know what portion of that financial aid actually reaches the destination? Granted, these organizations are run by people that need to abide by an economic system that itself takes its toll on every transaction that we currently make. Not to mention those charitable funds that are acting like a façade for money laundering operations. With the help of Giftcoin, users can rest assured that the entire sum of money they donate reach the original destination as the blockchain technology takes dismal fees compared to the traditional financial system.
So how does the Giftcoin system work?
People register on the Giftcoin platform, and they can enable that every payment they make to be rounded up or simply choose a percentage of their purchase to be transferred into Giftcoins. Once they are happy with the accrued tokens, they can just select a cause they believe in and redirect the tokens to that specific cause. Users can use the monitor the entire route their money takes thanks to the blockchain technology embedded within the Giftcoin network.
The soft cap of the Giftcoin token is 2.5 million USD and a hard of 10 million USD. The total number of issued tokens is 100 million. The approximate price of 1 token is 0.10 USD. The first token sell is set to start on the 20th of March 2018!