The annual volume of donations is estimated to be in the region of $750 billion worldwide, leaving out the peer to peer transactions. The charity market consists of $400 billion recorded in the form of donations alone. Every third person on Earth gives to charity at least once per year. IT is also observed that People donate money more often and more readily to religious causes.
But the issue at hand lies with the increase in the rise of new mechanisms for donating, the main obstacle, a lack of trust. The people donating often do not know if their funds have reached the destined place on time or in full amounts. Many are faced with the complexity of cross-border payments which results in difficulties with regulatory bodies.
The charity industry has changed very little in terms of the technology employed, this can be owed to changing technology where we now have phones, printers and computers in their offices, the problems haunting the industry have remained the same.
With the integration of blockchain and cryptocurrency technology in virtually every industry, the benefits have been proved to be bigger and much better. Hence introducing blockchain technology in association with P2P Internet platform help solve the problems of the industry and makes an impact on the future growth.
The product and ecosystem
The Humancoin Foundation integrates the charity industry with that of the cryptocurrency market and e-commerce in one single hood. This therby facilitates an ecosystem to the users by providing them with a new incentive for donors, offering them the chance to take advantage of numerous loyalty programs around the world. Some of the advantages for owning humancoins is that their tokens are easily convertible into coupons, discounts, bonuses etc.
Some of the unique features of HumanCoin I that they are in the potential to become a global e-commerce loyalty program, globally. Their USP includes not competition with existing programs, but skilfully integrating it within its ecosystem. The Humancoin platform can manage the majority of popular crypto and fiat currencies. They have structured their service is such a manner that they charge only 5% whereas the commission taken by existing charitable foundations can be up to 20-30%. Additionally, they are one of the first platforms that will be using professional expertise, both financially and legally from audit companies to serve larger companies.
Token sale
The token is a ERC20 token which is a part of their loyalty reward program. The fundraising via token sale is divided into two parts- First being the pre sale to the event an the actual token sale. The pre sale is all set to begin from July 1–August 15, 2018 and the token sale is set to go on between September 15–November 1, 2018. For the duration of the sale, they are expecting to raise $1 million via softcap and hardcap.
Token recipients will be incentivised to hold the tokens for a long time, waiting for the best opportunities to use them in partner loyalty programs. Do visit their website for more information.
For More Details visit
Website - https://www.humancoin.net/
Whitepaper - http://docs.humancoin.net/HumanCoin_whitepaper_en.pdf
ANN - https://bitcointalk.org/index.php?topic=4469466
Telegram - https://t.me/HumancoinChannel
Published by- Pooja Jur
Profile - https://bitcointalk.org/index.php?action=profile;u=1217469