What is The Vantage Network?
The Vantage Network leverages blockchain technology to provide transparency and traceability that helps eliminate donor skepticism, resulting in increased trust and revenue for nonprofits. This allows nonprofits to focus on creating the impact they want to achieve by helping the people they were built to serve.
The Vantage Network is a Contribution Tracking Platform that enables donors to see exactly how the money they contribute to a fundraising campaign is spent, down to the transaction level. This level of visibility engenders donor confidence, building trust in nonprofits and ultimately yielding more money raised to help people in need.
Contributors will be able to see the impact of their donations and then, they will be donating more. People in need get what they need, non-profits get more money to do more good, and contributors clearly see the impact their donations have.
The Vantage Network consists of a web portal that allows nonprofits to easily manage their fundraising campaigns and create donation points, a mobile payment application used by nonprofits to spend contributions, a blockchain platform that leverages XVT to track contributions and spending, a digital asset management platform that is used to operate the system and software APIs that integrate the various nodes to enable the tracking of fiat currency and generation of campaign analytics.
How does The Vantage Network work?
A contributor makes a donation via credit card to a nonprofit organization using the Vantage Network. The contributor receives a tracking ID associated with their donation that they can use to track how their donation is spent by the nonprofit organization, similar to tracking a package. The nonprofit organization receives the donation in its Vantage Account and spends the donation via the Vantage Mobile Pay app. Every purchase they make using the donation is tracked on the Vantage Network using the NEM Blockchain. The contributor enters their tracking ID on the Vantage Network Portal to see all transactions tied to their donation and gets a report of overall campaign fund usage.
The non-profit organization receives the donation in its Vantage Account and spends the donation using the Vantage Mobile Pay app. The interesting point is that the Vantage Network is based on the NEM blockchain, so the donation can be easily tracked. The mobile application that is tied to Fundraising Entity’s account where donated funds are held. Fundraising Entities use the Mobile Payment Application to spend contributions, enabling the capture of spending data that is reported back to Donors, the Fundraising Entity, and Auditors via the Vantage Web Portal.
What is Vantage Tokens (XVT)?
Vantage Tokens (XVT) ERC-20 during the ICO, will migrate to NEM Standard once Vantage Network is launched and perform a 1:1 token swap for all XVT owners. Vantage Tokens (XVT) are a key component of the Vantage Network. A small percentage of every donation made via the Vantage Network is converted into XVT, which is utilized inside the platform to track how fundraising organizations spend the donations they receive. The XVT token will follow NEM MOSAIC standard, so it can easily be implemented into other services (NEM NIS API Documentation: Namespaces & Mosaics, n.d.).
Conclution:
While Vantage Network is focused on applying blockchain technology to provide the benefits of transparency and accountability, its key feature is that it can be easily integrated into any current and future fundraising platforms. Donors can contribute money to nonprofits without having to first own cryptocurrency and can track their donations using a tracking ID, similar to tracking a package. Nonprofits can seamlessly track their spending without having to manage a digital wallet or convert funds they spend on goods and services from cryptocurrency to fiat
The Vantage Network is also a practical solution that is easy for organizations to implement and donors to use.
Road Map:
Telegram: https://t.me/vantageofficial
Twetter: https://twitter.com/vantagetoken
Medium: https://medium.com/vantagetoken
Whitepaper: https://vantage.network/wp-content/uploads/2018/05/Vantage-Token-Whitepaper-20180508.pdf
Youtube: https://www.youtube.com/channel/UCgTA-a-pOSVqRz-DWFie4Kg
Facebook: https://www.facebook.com/vantagetoken/
Website: https://vantage.network/
Bounty: https://vantage.network/?utm_source={yoursite}&utm_medium=article&utm_campaign=bounty
This article was created in exchange for a potential token reward through Bounty0x username:airdroparena
