Humancoin - The Cryptocurrency of Kindness

What do you get if you combined the power of philanthropy, the strength of e-commerce and the innovation of cryptocurrencies? An awesome unique project called Humancoin. Today I will be talking about this project that is focus in growing, developing and creating new possibilities all thanks to blockchain technology. Of course, as in most blockchain projects, one of the main purposes of companies is to tackle the problem of the middleman and eradicate the need for them once and for all. The way that Humancoin achieves this is very particular.

So what’s Humancoin?

To understand what humancoin does, we must understand the problems it addresses. The project is focused in united 3 industries: the charity industry, e-commerce and the cryptoindustry.

The problems in the charity industry is the technology deployed in it. It’s still rudimentary compared to other industries, if we compare it to the e-commerce industry, both have their own flaws though. Donors most of the time don’t have clear where their funds are going and if they are truly being used for the cause they donated to. There’s limitations in donating to foreign projects as well so, in other words, we can say that transparency and flexibility is what mainly prevents charities to thrive. To solve this, Humancoin will implement blockchain technology to facilitate financial transactions at a global scale, while providing transparency and efficiency to the whole charity industry.

Now the problem with e-commerce is that is highly saturated with competition, but not only that, also centralized in big players that don’t let small business fully thrive and instead force them to join them if they want to succeed. This highly competitive market doesn’t let small companies differentiate with a social responsible program because they are more worried to focus in attractive price so a strategy like that is not viable in most cases, not affordable in other words. The solution is to integrate a loyalty program that bridges charities with retail stores, reinforcing the stores value proposition and the charity’s reach.

Humancoin aims at solving these issues through the Humancoin project.

How does it work?

The project will associate and partner with charities. Donors can contribute to charities and receive Humancoins as loyalty points from this action. Then, Humancoins can be converted to points, miles, bonuses, coupons from existing loyalty programs all across the globe. Donors won’t face the problem of cross-payments thanks to Humancoin technology that integrates most fiat and cryptocurrencies into the method of payment for the charity. This makes the whole process transparent and efficient, that lets the company charge only 5% for them, instead of the conventional 20-30% that normal systems charge.

The platform will have a mobile app, a built-in messenger, translated content for a global reach, online reports in a convenient dashboard, ranking projects functionalities, integrated wallet and much more!

You can see the following diagram to have a more visual understanding of the methodology of Humancoin:

This is an Ethereum based project that will use the benefits of smart contracts to trace every transaction in real time, supply the tokens for the token sale, issue additional tokens through the proof of charity concept and to verify the integrity and transparency of how the funds are used after being collected.

Token Sale

It’s an exciting time to be part of the token sale. The total supply of the token is 6 billion tokens, 3.055 of which will be available to be purchased in the token sale event. The team is expecting to raise between 1 million dollars to 6 million. There’s also something to take in mind. All unsold tokens will be burnt. The company is serious about the crowdsale, I encourage you to read much more in detail the white paper where they lay out the information you need to know. It’s amazing the professionalism this project has, proposing a detail and clear roadmap about the development of the platform as well as how the funds are used in the future, milestones, KPIs, all is included in the white paper which you can read here http://docs.humancoin.net/HumanCoin_whitepaper_en.pdf

Conclusion

As always, I try to review projects that are innovative and have a really unique value proposition, and that’s exactly the case with Humancoin. I will be looking forward for the development of this awesome platform and I’m positive about the team direction to move the project forward.

Be part of the community!
https://t.me/HumancoinChannel

Visit their website

https://www.humancoin.net/

Or engage in social media

https://medium.com/@humancoinnet
https://www.reddit.com/user/humancoinnet
https://bitcointalk.org/index.php?topic=4469466
https://www.facebook.com/Humancoinnet/
https://twitter.com/humancoinnet
https://www.linkedin.com/company/humancoin-net/
https://www.youtube.com/channel/UCS1GlmbfnzwarRd46xi-7yQ
https://www.instagram.com/humancoinnet/

For further development of the project visit their GitHub

https://github.com/Humancoinnet/humancoinICO

Disclaimer: Keep in mind that I’m participating in the content creation bounty campaign. You can join any campaign you would like to participate here: https://bitcointalk.org/index.php?topic=4471521
I’m participating with my bitcointalk account - https://bitcointalk.org/index.php?action=profile;u=882182
and ETH address - 0x92D4c328EBE32B2826FfbB4aAbcD69f58Fe0a946
Therefore, I’m not giving investing advice, this article is purely educational in regard to Humancoin.