INTRODUCTION
The little Phil uses blockchain technology and user experience (UX) designed around a positive psychology framework to allow people to have the oversight, control and emotional connection of a philanthropist, without giving large amounts. The little Phil Coin (LPC) powers the philanthropy platform. It enables quick and trustless transfer of goods, services or currency between a giver and receiver from anywhere in the world.
LPC can ensure each transaction is transparent by using an immutable public ledger. Proprietary Unique Digital Identities (UDID) will be used to validate receivers and initiate smart contracts, ensuring funds are only used when the desired impact is confirmed.
It’s unclear where our money is going. It feels like we’re not making an impact. The little Phil can solve these problems. Little Phil applies blockchain technology so givers can:
• Follow funds transparently
• Track money all the way to the cause
• Track your philanthropy impact
• Be acknowledged by the receiver
• Create a good moment
• Share a little Phil good moment with them
This more efficient way of fundraising will empower charities to focus on what they’re great at.
BASIC FACTS ABOUT PHILANTROPIST
Philanthropists are smart, successful people. They freely choose to give and do so on their terms, not because they’re pressured or guilted into it. They have control over what they give and feel good about their impact. Philanthropy is just a mindset. People should have transparency and control over where their money is going. It’s a special feeling when you give and it’s appreciated and acknowledged. Blockchain technology can create the joy of giving. The feeling of giving makes you happier, healthier and more connected. Emotional connection is largely lost in traditional fundraising.
INDUSTRY PROBEMS SOLVE BY LITTLE PHIL
- High-pressure sales tactics
Traditional charitable marketing interrupts our dinner with pushy phone calls or jumps out in front of us when we’re shopping. Their messaging often makes us feel guilty or uncomfortable. Research shows people are less likely to give when these tactics are used. - Nearly 60% of younger generations agree that seeing the impact of their donation significantly affects their decision to give, but normally such visibility is only accessible to large donors.
- Fraudulent beneficiaries receiving assistance from multiple charitable sources (at the expense of those genuinely in need) can be a common issue facing charities.
- When we do give money, we can’t track where it goes. Sometimes as little as 17% of donations actually end up being spent on the causes advertised. Charities also have to pay these marketing expenses up front, making it hard for smaller organisations to gain exposure.
RESPECTIVE LITTLE PHIL SOLUTION
- Emotional connection
Little philanthropists give on their terms, on their device, whenever they want to. It’s easy to find receivers they care about and see where their money is going. They experience the rewarding feeling of giving otherwise only available face to face - which encourages them to re-engage and share. - Proof of Impact
Givers have peace of mind knowing their funds can only be used as intended. Payments to suppliers are held in a smart contract until the receipt of goods or services is validated by the receiver’s UDID. The giver is immediately notified of the outcome for their receiver. - Proof of Need
Before a receiver can be listed on the platform, a Unique Digital Identity (UDID) is created using biometric data. This is cross referenced on the UDID chain to prevent double up and minimise potential for fraud, providing givers an assurance they are not being taken advantage of. - Immutable Public Ledger
All transactions and costs are visible on the little Phil blockchain. To maintain this platform and work with charities to drive better awareness of causes and distribution of funds, charities are charged just 6% per transaction. This also levels the playing field for smaller charities.
LITTLE PHIL COIN (LPC) TOKEN UTILITY
LPC is an ERC-20 standard token that can be stored and transferred to or from any ERC-20 compatible wallet.
BENEFIT OF LPC TOKEN
LPC tokens are used for: Rapid, low-cost transfer directly to the wallet of the receiver, charity or supplier wallet; Traceability of transactions and costs; Conversion to a preferred digital currency with an atomic swap and transferred to the supplier or charity; UDID creation to protect against receiver duplication; Reward tokens; Emergency relief fund; Staking and voting rights; Just in Time (JIT) escrow services through smart contracts; and Platform fees.
TOKEN SALE DISTRIBUTION
LPC will be offered with a variable bonus rate throughout the ICO process. The token generation event will create and distribute a maximum of 1bn LPC.
TEAM
Little Phil is an Australian based company consisting of like-minded people who are passionate about philanthropy and innovation. They have the diverse range of expertise and backgrounds required to take the little Phil platform from our MVP to the most powerful giving platform to date.
CONCLUSION
Little Phil enables quick and trustless transfer of goods, services or currency between a giver and receiver from anywhere in the world. For details information about 4NEW, it is important to check their various links and channels indicated below:
Website: https://littlephil.org/
Whitepaper: https://littlephil.org/assets/whitepaper/little-phil-whitepaper.pdf?v=1.1
Join on Telegram: https://t.me/littlePhilChat
Follow on Twitter: https://twitter.com/littlePhilCoin
Follow on Facebook: https://www.facebook.com/littlephilplatform/
Follow on Github: https://github.com/little-phil
Follow on LinkedIn: https://www.linkedin.com/company/13678460/
Follow on Medium: https://medium.com/littlephilnews
Follow on YouTube: https://youtube.com/c/LittlePhil
Follow on Steemit: https://steemit.com/@littlephil
NB: Most of the picture diagrams and table displayed in this write up are obtained from official site of 4NEW.
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