In case of an event causing a disaster of sudden damage to a community, the people affected can only rely on the external help they can receive. Think of the refugee crisis or hurricanes. When these emergencies occur, charities and non-governmental organizations become a powerful and fundamental instrument into the lives of people in distress. However, the lack of funding can be very challenging for organizations around the world that are running projects to raise money. It’s understandable that even for the most reasonable causes, people still hesitate and always question whether their money will be used for what was promised beforehand.
About
Giftcoin is an innovative platform that was specially created to revolutionize the way people donate. By using blockchain technology-based smart contracts, it brings transparency in the process of giving. This system gives people a sense of trusting again in how charities work and finding the confidence they need when donating. Therefore, people don't need to worry anymore about how much of their donation will reach the destination. Not only that Giftcoin restores people’s confidence, but it also makes its system more accessible to a broader public, allowing more individuals to participate.
Their Promise
At Giftcoin, when donating money to a charity, you can have absolute transparency and confidence in how your money is being spent. Some of the things that Giftcoin claimed they would do for its users are listed below:
- redefine the relationship between donor and charity, based on trust
- offer the donor the ability to see the real value of a donation
- remove the usual transaction fees for charities
- give donors the possibility of multiple choices when donating (to automatically donate each month, select to donate each time to different causes or keep their giftcoins for future purposes)
- with the funds raised through Giftcoin’s token sale, the team wants to create a prototype product which is due to be launched in May 2018
The People behind Giftcoin
Giftcoin is established by a team of entrepreneurs whose previous ventures include The Optimum Health Clinic, Safer Technologies, Deutsche Bank and more. Among their investors and advisors, is Jon Duschinsky, the successful social innovator behind ASL Ice Bucket Challenge who raised $100 million for the cause. Duschinsky told Civil Society News that he believes Giftcoin “will start the next wave of social giving." He also said although he doesn't expect that people will immediately change from using cheque donations to Giftcoin, there is a “massive amount of money in cryptocurrency” from those individuals who invested a fortune and that money can’t be taken out from cryptocurrency and convert into dollars "for some reasons."
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