Introduction
The noblest act known to humankind is ‘giving’ or helping a fellow human in need. It is a voluntary act that is performed as a result of an innate urge that humans have to extend a helping hand to the needy! It is these feelings of empathy and compassion that sets the human race apart!
BCharity provides a platform for charity exchange for individuals, funds and companies across the globe. Developed using the blockchain and cryptocurrency technologies, BCharity replaces the traditional system of charity along with its inevitable intermediaries and regulation bottlenecks with a more efficient, barrier-free and convenient global exchange mechanism.
BCharity aims to provide the way and means to transform philanthropy on a global scale using crypto donations, which are donations made in cryptocurrencies or digital currencies. Bitcoin is the world’s first digital currency, also known as the cryptocurrency. It is entirely digital or electronic and can be exchanged between computers on a world-wide peer to peer network.
This revolutionary method brings in total transparency, accessibility and efficiency to the entire philanthropy ecosystem.
Cryptocurrency Market
The tremendous interest and awareness of the blockchain technology and cryptocurrency worldwide has enabled phenomenal growth of cryptocurrency capitalization from $500 billion in December 2017 to $700 billion in January 2018! This value is expected to grow to an unprecedented $2 trillion by the end of 2018. Consequently, a global charity using blockchain technology and cryptocurrency is expected to grow significantly and snatch a sizable market share from the prevalent traditional charity market.
Problems in the current scenario
Today’s world of philanthropy is plagued by a few practical issues that are hindering the system to be completely accessible, trustworthy and efficient. These concern areas are:
How to identify and bring together the needy and the philanthropists across the globe on a common platform?
How to overcome the language barriers that restrict people from across different countries and continents to tell their story to make an impact and get the support they deserve from a global audience?
Lack of availability of charitable organizations and funds wherever they are needed, thereby depriving the needy in certain regions completely from the opportunity of getting help.
How to overcome the gap between the two different worlds of charity and blockchain technologies?
How to overcome the lack of trust and widely prevalent skepticism on the current philanthropic system?
How to equip smaller charitable companies with adequate financial support or networking that could help them leverage the benefactors on a global scale?
BCharity to the Rescue!
BCharity, a socially conscious organization, aims to address these fundamental problems by effectively leveraging its expertise in blockchain technology.
The international exchange platform will handle the first problem of getting all the stakeholders on one stage. To overcome the language barriers, the fund requests will be uploaded in 2 languages, namely in English and in the native language of the people requesting for help. Using English will ensure a wider reach. The ‘BCharity Translate’ feature will help those who do not know English to translate their requests from the native language to English.
BCharity will take the onus of connecting with the global benefactor community using its resources, brand and technology. The charity with blockchain methodology will bring accessibility to all players, process transparency and above all security to the entire ecosystem. This phenomenon will automatically take care of issues raised as points 4 and 5.
By making the registration on International Exchange easy, hassle-free and pocket-friendly, BCharity is enabling all stakeholders, big and small, connect on this universal platform.
The squeaky wheel gets the grease!
You need to ask for it to get it! BCharity intends to encourage more and more benefactors to come forward by appealing to their specific & individual sensibilities — the TASTE of giving:
Trust: Trust is the decisive factor in a donation making process.
Altruism: People satisfy their urge for selflessness by opting to help those in need
Social: Man is a social animal and craves for social belongingness. This human need could be addressed through acts of donations or charity.
Taxes: Some get lured by the tax benefits that come as a perk for charitable acts.
Egoism: Doing a good act, like donating to a cause or individual, helps stroke a person’s ego and is a feel-good factor!
BCharity has made it its business to do good by enabling the good! BCharity is scripting the tale of “Charity of Future”! And it is a great narrative!