Giftcoin: The world’s first cryptocurrency for charitable giving and good causes

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Introduction

Giftcoin is a groundbreaking new system designed to revolutionize charitable giving. With confidence 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 confidence, we believe donors will choose to give more money to the causes they care about.

For donors

We give them absolute confidence that their funds are being used for the purpose they donated.

For good causes

We offer the chance to build trust and confidence via greater transparency, bringing them more money to increase their impact

Giftcoin is more than just another alt cryptocurrency. Giftcoin has the potential to radically transform the general public’s attitude not only to the process of giving, but towards the value of cryptocurrencies as a whole.

We believe that Giftcoin is the crossover application of blockchain technology the world has been waiting for. It’s about creating transparency and trust in the giving process.

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 tamperproof 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:

CASE STUDY 1: Sponsoring a girl’s education in India

Saloni is a bright little girl, but her family are poor and cannot afford the fees to send her to school. The Giftcoin community agree to support the family with the school fees and send donations in Giftcoin. As the funds are specifically restricted to pay the local school fees, the community has complete confidence that donation is used as intended.

Each time the school fees are paid, the donors receive an alert, building their trust and engagement in the project. In addition, the simplicity of the transaction and the absence of wire transfer fees ensure that Saloni’s family can keep 100% of the donation to pay for the school fees.

LONG TERM VISION

End-to-end giving is our long-term vision, and we recognise this will only be fully possible when those at the end of the value chain (such as workers on the ground, or suppliers providing resources) can be paid in Giftcoin. Although this is technically possible now, it requires greater adoption of cryptocurrencies which is still several years away.

Therefore, as a stepping stone towards the potential of end-to-end giving, we will begin by offering a system where projects are broken into milestones and funds are only released when projects reach these milestones. This means that we can deliver an initial, working version of the system that delivers some core value and utilises the power of smart contracts as a stepping stone to our eventual vision.

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