Our vision is to create a world in which every time you give money to charity and good causes you can have total trust that your funds are going exactly where you want them to.
Giftcoin is a groundbreaking new system designed to revolutionise charitable giving. With confidence in the charitable sector being seriously compromised, never has cultivating trust with donors been more important.
Our vision
Our vision is to create a world in which every time you give money to charity and good causes, you have total trust that your funds are going exactly where you want them to. By giving absolute trust and confidence, we believe donors will choose to give more money to the causes they care about. At a time in history of seemingly endless natural disasters, the refugee crises in the Middle East, and a greater divide between rich and poor than ever before, the need has never been greater for such a platform.
For donors
We give them absolute confidence that their funds are being used for the purpose they donated.
For good causes
We offer the chance to build trust and confidence via greater transparency, bringing them more money to increase their impact.
Giftcoin is more than just another alt cryptocurrency. Giftcoin has the potential to radically transform the general public’s attitude not only to the process of giving, but towards the value of cryptocurrencies as a whole. We believe that Giftcoin is the crossover application of blockchain technology the world has been waiting for.
A revolution in charitable giving
Giftcoin is about creating transparency and trust in the giving process. Right now, giving money to charity is a one directional experience. You give money, and you hope it goes where you intended it. When you give with Giftcoin, you can have absolute confidence that your money is going exactly where you intended.
How charitable is the world?
Charitable donations are big business and we believe they could be bigger. Global total charitable donations are estimated to be in excess of $500 billion a year. In 2015 the US gave $373 billion
(1), Australia AU$134 billion
(2) and the UK £10 billion
(3). Not-for-profits in the US have an annual income exceeding $2 trillion. And, charitable giving is not just for the rich. Although high net worth donors in the US gave an average of $25,509 to charity in 2016, general population households still gave $2,520
(4). Charities also hold vast amounts in cash reserves, in 2015 the Salvation Army was holding $2.9 billion.
This is all well and good. But, we believe that with greater transparency, the amount of money donated to charities globally could increase dramatically. After all, when we know exactly what our funds are doing, it only makes sense that we would want to give more.
How Giftcoin works
The long-term vision of Giftcoin is end-to-end giving. That means, that using a distributed ledger and blockchains you will be able to track the path of the funds you donate to a charity or good cause right up to the point they are spent.
By using a cryptographically secure and tamper-proof system which has full public accountability you have utter confidence in the system you are using. Furthermore, by utilising a smart contract in the token, it is possible to release funds in stages only when projects reach key milestones. This means that if a project falters or fails, the funds not yet released can be returned to you as the donor to be donated to a new project.
End-to-end giving
End-to-end giving is a revolution in the charitable giving process that means you can track the path of your donation right up until the point it is spent. Here is how a distributed ledger and the blockchain makes it possible:
The power of smart contracts
End-to-end giving is our long-term vision, and we recognise this will only be fully possible when those at the end of the value chain (such as workers on the ground, or suppliers providing resources) can be paid in Giftcoin. Although this is technically possible now, it requires greater adoption of cryptocurrencies which is still several years away.
Therefore, as a stepping stone towards the potential of end-to-end giving, we will begin by offering a system where projects are broken into milestones and funds are only released when projects reach these milestones.
This means that we can deliver an initial, working version of the system that delivers some core value and utilises the power of smart contracts as a stepping stone to our eventual vision.
THE GIFTCOIN BUSINESS PLAN
Roadmap
We are preparing for a big day when you will be able to participate in our cause. Giftcoin will start selling on 20th March to sophisticated and high net-worth investors.
Token Offering 1 - 20th March 2018 1 billion tokens of Giftcoin will be minted.
The hard cap for Token Offering 1 is to sell 10% of the tokens (100 million tokens) at a price of $0.10 a token. If a minimum raise of $2.5 million is not achieved all funds will be returned to participants.
An incentive schedule will be offered to support Token Offering 1 with the following discounts:
• 50% in the pre-sale
• 25% first 24 hours
• 15% first week
• 5% second week
• 10% bonus are available for advanced whitelisting for the public sale.
The token on sale at ICO 1 will be a placeholder token that will be exchanged for Giftcoin. This exchange will need to be done before the token can be sold on an exchange, which we anticipate being possible very soon after ICO 2 in October 2018.
Token allocation
• Token Offering 1: 10%•
Token Offering 2: 35%
• Giftcoin Foundation reserves: 25%
• Founders and team: 15%
• Undefined: 15%
• Undefined tokens will be retained for distribution for community initiatives, business development, academic research, education and market expansion.
Founder coins will have a one year lock-in and vest for a further five years allowing founders to sell no more than 20% of their allocation each year.
The Giftcoin vision is to offer a feeless system for end-to-end giving. This means that all funds that exist within the Giftcoin system can move without any fees. To ensure a viable business model for the long-term and to make sure the platform can sustain beyond the planned token offerings, a small charge (anticipated to be 1%) will be levied for exchanging fiat into Giftcoin and vice versa. This will also incentivise users to keep funds within the Giftcoin system.
For charities concerned about the volatility of Giftcoin and the risk this might present to funding pre-committed projects, an additional feature will be offered (for an anticipated fee of 1%) to exchange Giftcoin for a fiat token which maintains the integrity of the smart contract but pegged to the dollar.
Token
Token Name: Gift
Price: 1ETH = 10000 GIFT
Platform: Ethereum blockchain
Accepted currencies: BTC and ETH
Soft Cap: 25,000,000 GIFT
Hard Cap: 100,000,000 GIFT
Total supply: 1 000 000 000 Tokens
Minimum purchase: 0.251 ETH
ICO
Start date: 20th March, 2018
End date: 19th April, 2018
The Giftcoin exchange
In addition to building the technology and platform that underpins Giftcoin, Giftcoin will act as an exchange to provide liquidity in the market. The reserves used to support the exchange will be owned and held by The Giftcoin Foundation, an independent entity which will have its own independent oversight committee. Any movements of funds between the Foundation and the exchange will be handled via the blockchain and be transparent on the public ledger. This will be to ensure there is no risk of Gift Coin Limited manipulating the currency.
MEET THE TEAM BEHIND THIS GREAT PROJECT
More Information please visit:
Website:
Whitepaper:
Telegram: https://t.me/GiftcoinCrypto
Facebook: https://facebook.com/GiftcoinCrypto
Instagram: https://www.instagram.com/giftcoincrypto/
Twitter: https://twitter.com/GiftcoinCrypto
ANN/ Bounty Threads: https://bitcointalk.org/index.php?topic=2828871.0
Author: Tosin David
My Profile link: https://bitcointalk.org/index.php?action=profile;u=1180815
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.