Giftcoin — The new Gold Standard in Charity Fundraising
In the last article I’ve addressed the trust issue the charity organizations have to face when trying to raise new donations. Even though the yearly donations exceed 500 billion USD, the trust in those organizations is dwindling. To directly address this issue, Giftcoin was created.
If you followed my blog for a while you’re probably already very well versed in the blockchain technology and know the benefits that come with the utilization of it. For donors these advantages will be the transparency the blockchain technology brings with it. The possibility to directly trace where your donation is going is a huge deal. Not only will it increase the trust in organizations, it will also allow donors to directly see the impact they are making in the world.
Charities on the other hand can promote their usage of a blockchain based donation possibility and build trust among possible donors, allowing them to raise more money for those in need.
All of this can be easily done through the Giftcoin wallet which can be downloaded and linked to your bank account. You can then purchase a pre-defined amount of Giftcoin and use them as you wish. Projects can be looked at through the app and chosen, depending on what causes you want to support. The wallet also allows monthly payments for on-going projects, meaning you can automatically support certain projects over a longer period of time without having to manually send Giftcoins over and over again.
Giftcoin is straightforward and has a simple concept. The need for a transparent donation system is surely there, so it’s only a question of adaption and utilization in the real world. Even though Giftcoin is a socially oriented project, we as investors still have to look at it from a rational and investor point of view. To know if an investment in the ICO can yield an acceptable return, we’ll have a look into the token sale terms in the upcoming article.
