What is Giftcoin about?
It is a crypto currency based platform through which philanthropic individuals and organizations can make donations to the less privileged and people affected by wars and other mass disasters. The idea of Giftcoin was born out of the serious need for transparency in the usage of funds being donated for charity and to gain the trust of donors who have become weary of donations due to lack of transparency in the management of funds. Global total charitable donations are estimated to be in excess of $500 billion a year, but these donations for charity have been diverted into pockets of individuals at many instaces instead of being used for the sole purpose for which these donations were meant.
How to make these donations has also been a challenge as charity organisations have limited channels through which they can receive funds from donors. Donors are being charged high fees while trying to make donations via these limited channels such Giving.com and virgin money with fees as high as 5% by Giving.com and 2% by virgin money aside other charges in place.
The good news now is that all this have been taken care of by Giftcoin blockchain technology which comprises of a team of seasoned entrepreneurs, advised and supported by Titans of the charitable not-for-profit sector along with seasoned investors and experts in blockchain. With Giftcoin donors will no longer have to pay any charges while making their donations, donors will also be confident that every cent they donate is going into the cause for which they made the donations.
Donors can accumulate their donations gradually by buying Giftcoin crypto currency until it gets to the amount they want to donate. Donors monitor their donations with the Giftcoin application provided by Giftcoin technology while offline . The long-term vision of Giftcoin is in end-to-end giving, which means that using a distributed ledger and blockchains one will be able to track the path of the funds he/she donates to a charity or good cause right up to the point they are spent. Below is a diagram showing this Giftcoin works.
Discover more about Giftcoin on: www.giftcoin.org
ANN: https://bitcointalk.org/index.php?topic=2830701.0
Giftcoin’s telegram group: https://t.me/GiftcoinCrypto
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