Giftcoin
is a groundbreaking new system designed to revolutionise charitable
giving. With con dence in the charitable sector being seriously
compromised, never has cultivating trust with donors been more
important. Our vision is to create a world in which every time you give
money to charity and good causes, you have total trust that your funds
are going exactly where you want them to. By giving absolute trust and
con dence, we believe donors will choose to give more money to the
causes they care about. At a time in history of seemingly endless
natural disasters, the refugee crises in the Middle East, and a greater
divide between rich and poor than ever before, the need has never been
greater for such a platform. Global charitable donations are more than
$500 billion per year. Yet public trust in charities and non profits is
at an all time low. Giftcoin is a groundbreaking new platform that uses
the blockchain to revolutionise charitable giving - providing complete
transparency and accountability across the donation process.
For Donors
We give them absolute confidence that their funds are being used for the purpose for which they donated.
For Charities
We offer the chance to build trust and confidence via greater transparency, bringing them more money to increase their impact
How Giftcoin works
The
long-term vision of Giftcoin is end-to-end giving. That means, that
using a distributed ledger and blockchains you will be able to track the
path of the funds you donate to a charity or good cause right up to the
point they are spent. By using a cryptographically secure and tamper-
proof system which has full public accountability you have utter
confidence in the system you are using. Furthermore, by utilising a
smart contract in the token, it is possible to release funds in stages
only when projects reach key milestones. This means that if a project
falters or fails, the funds not yet released can be returned to you as
the donor to be donated to a new project.
End-to-end giving
End-to-end giving is a revolution in the charitable giving process that means you can track the path
of your donation right up until the point it is spent. Here is how a distributed ledger and the blockchain makes it possible:
The Giftcoin collection process
Step 1: Setup
In
a series of simple steps the user downloads their secure wallet and
links it to their bank account. They then set a maximum amount per
month of Giftcoin they would like to purchase to avoid any surprises.
Step 2: Spend
Each
time the user makes purchases, their Giftcoin wallet rounds up to the
nearest dollar and converts the difference to Giftcoin which is stored
in the users wallet.
Step 3: Donate
As
Giftcoin accumulates in the users wallet, they have three options. They
can automate the wallet to donate to their selected cause(s) each
month, they can manually donate to different causes as they wish, or
they can accumulate Giftcoin to use in the future. The Giftcoin vision
is to offer a feeless system for end-to-end giving. This means that all
funds that exist within the Giftcoin system can move without any fees.
To ensure a viable business model for the long-term and to make sure the
platform can sustain beyond the planned token offerings, a small charge
(anticipated to be 1%) will be levied for exchanging fiat into Giftcoin
and vice versa. This will also incentivise users to keep funds within
the Giftcoin system.
Use of proceeds
Proceeds
from Token Offering 1 will be primarily invested in development of the
tech platform. Additional funds will also be used to establish the
foundations of the core business, which will include investing in
relationships with charitable partners for testing of the platform. The
anticipated breakdown is as follows:
- 47% tech development
- 5% overheads
- 29% PR, marketing and sales
- 12% legal and accounting
- 7% admin
Token Offering 1 - 20th March 2018
1
billion tokens of Giftcoin will be minted. The hard cap for Token
Offering is to sell 10% of the tokens (100 million tokens) at a price of
$0.10 a token. If a minimum raise of $2.5 million is not achieved all
funds will be returned to participants. An incentive schedule will be
offered to support Token Offering with the following discounts:
- 50% in the pre-sale
- 25% first 24 hours
- 15% first week
- 5% second week
- 10% bonus are available for advanced whitelisting for the public sale.
- Token Offering 1: 10%
- Token Offering 2: 35%
- Giftcoin Foundation reserves 25%
- Founders and team: 15%
- Undefined: 15%
Undefined
tokens will be retained for distribution for community initiatives,
business development, academic research, education and market expansion.
For more information, follow this link :
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