W12(ICO)- RESOLVING MARKET PROBLEMS IN A BLINK
For the people
Charity organizations, like any other, have to pay their employees, train acquire and staff people attention. Research has proven that up to 50% of the donation is spent as administrative expenditure (approximately $360 billion)Similar to ICO, a sizable chunk of funds is paid for acquiring the attention of the contributors, in addition, charities have to pay that money upfront - hence small charities are not able to get public attention and shut down, even though their social impact may have a higher level of efficiency (per $). [22] W12 provides a more reliable way of raising donations. Any charity can list itself on the attract and platform donation. No upfront cost is required, and the W12 shall charge a 0, 5% success commission.
A large proportion of charity expenditure falls on administrative staff and costs training. W12 provides the infrastructure for a decentralized campaign consensus. Social contributors will be able to synchronize their donated time with the project milestones and roadmap. Such a decentralized approach would decrease the management costs of any campaign and increase contributor participation, which is penultimate for a high level of charity activity.
According to research, the younger generations (≤48 yr.) are sensitive to donation transparency. The younger use social networks to follow actively, repost, comment and message on posts of the Charity organizations they support. [20] The younger generation requires two-way communication with charity organizations, where the fund recipients show, how their life improved due to fund contributor activity. At the brief moment, every charity has to set up their own channels of communication, and only large-scale charities are able to maintain a continuous two-way information flow. W12 proposes the charity roadmap and Oracle system as a template for transparent and fraud-resistant communication between the fundraisers and charities. Charities will be in tight connection with their contributors always, and the donators will be able to see the impact of their fund contribution always. The Oracle system will provide a continuous audit of the charity milestone and roadmap accomplishment; hence the donors will be able to receive sufficient and transparent information of the charity campaign.
A novel approach
The charity patterns vary between generations. Whilst the elderly and baby boomers (49+ years) are used to the traditional way of charity advertising and fund collection; the young generations prefer to donate through mobile websites and phones. Furthermore, the younger generations find traditional ways of charity advertising (direct mail solicitation and personal contact) highly intrusive and repulsive.W12 ensures that social entrepreneurs shall always be able to raise donations and will always reach their audience, whilst the fund contributors shall be able to receive proof of impact and if not, will be able to return their funds securely. Any Charity campaign can be built through on the W12 protocol. A charity presents a detailed road map and chooses the token sale scenario (12 Oracles, 51% voting or every individual decision making). After than W12 campaign tokens are assigned and created to a smart contract. The society donates cryptocurrency that is kept within the W12 system and operated through a smart contract. The campaign receives the first tranche and starts operating in according to its roadmap. The society confirms that the campaign is not fraudulent and continues to release funds.
The difference from the full blockchain scenario appears only after the W12 campaigns tokens are issued, to that prior, all procedures are similar. The W12 campaign tokens are created once, W12 shall start accumulating fiat currency on its bank account. The charity campaign will receive funds in exchange for the remaining tokens as soon as the W12 oracle network confirms milestone accomplishment and roadmap conformity.
For more detailed information about the project, I recommend to visit the links below:
| Website | https://tokensale.w12.io/ |
| WhitePaper | https://tokensale.w12.io/W12-en.pdf |
| https://twitter.com/w12_io | |
| https://www.facebook.com/w12.io/ | |
| Telegram | https://t.me/W12BountyChat |
| ANN Bitcointalk Thread | https://bitcointalk.org/index.php?topic=3220425 |
| Author Bitcointalk ID | oscarclows |
|---|---|
| BTT link | https://bitcointalk.org/index.php?action=profile;u=1769225 |
| ETH ID | 0x74fC3dD1Ce23826800e7675e039fAb8F1cC37390 |