Nowadays, not everybody can donate money for charity. Moreover, the majority of people who donate money are sure that these funds will not be used as they are supposed to. It should also be mentioned that some charity funds use a share of donations to survive.
In order to rule out all the downsides of charity organizations, the decision to create a unique Giftcoin platform was made.
Goals of Giftcoin project
Founders of Giftcoin project created a brand new platform that will be able to change the system of donations completely. They want to create a platform that will make every person who donates money sure that the money is transferred to the right people. Not only will this solution help restore the level of trust to charity organizations but also to attract more caring people.
A platform of this kind is much required in time of frequent calamities, crises, wars and significant division between the poor and the rich. It will not only help change attitude to donating, but also attitude to cryptocurrencies and blockchain technology so needed for the world.
How it works
Giftcoin platform operation covers absolutely all stages of the process of donation. This is done by using a distributed ledger and blockchain technology. This technology allows to track donated funds up to the moment when they are used to buy specific goods or as payment for work. The platform’s working principle is as follows:
- donations are acquired as Giftcoin coins;
- the acquisition is registered with the help of blockchain technology;
- charity organization receives the funds in Giftcoin;
- the funds are used to pay for necessary goods and services;
- a block that supports the action is created;
- an entry regarding the way the funds were spent is created.
Giftcoin also intends to offer its own app similar to Acorn that will allow to round the expenses to the closest dollar and accredit the rest to personal account. Thus, when buying products in a supermarket, the sum will be rounded to a dollar. The money that was supposed to be a change will be transferred to user’s personal account in Giftcoin system. This will allow to help people in needed without spending money from your monthly budget. This solution will make the process of donation automated and simpler.
ICO dates and details
To create a viable product and test the platform, the developers will need some funds that they plan to obtain from ICO. The sale officially started on March 20, 2018. According to the statement made by the developers, 1 billion GIFT coins will be release.
Original cost of the coin is 0.1 US dollars. During ICO, payments in BTC and ETH tokens will be accepted. Minimal amount of purchase is 0.251 ETH.
Project’s soft cap is 2.5 million dollars; hard cap is 10 million dollars. If the soft cap is not reached after ICO is completed, all funds will be paid back to the investors.
Discounts are offered as an incentive for the investors:
- during preliminary sale – 50%;
- within the first 24 hours – 25%;
- within the first week of sale – 15%;
- within the second week of sale – 5%;
- for public sale – 10%.
With increase of the number of investors, the cost of the token will be increasing. According to the developers, GIFT will be put up for sale on crypto exchanges in October 2018.
Conclusions
Giftcoin project is rather perspective. It will help people who donate money for charity to be sure that the money goes to the right people.
Application of blockchain technology will allow to restore trust of many people to charity organization and will make the process of donation more popular and automated. Moreover, this project will help to increase popularity of cryptocurrencies.
The site and all the documentation can be found at the links below:
Site | Whitepaper | Telegram | ANN
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