People have been making outstanding profits from crypto. We have witnessed massive gains for almost every alt with pumps of over 4000% in less than a year, think NEO. After all, crypto is going to impulse the biggest wealth redistribution in history. Bitcoin will promote a paradigm shift where FIAT money is going to be replaced by digital currencies. It is, therefore, very easy to get sucked into the crypto world and forget about real world hardships, and in most cases, forgetting about what I think are, important issues. I have been following the crypto space for quite some time now and I have decided to embark in my own crypto-project, ForT, and give something back. This begs the question: What is ForT?
ForT is a decentralised charity that employs the IOTA tangle to provide economic aid to people in need. ForT provides a new way of looking at charities, we cut loose the middleman — the charity itself. Thus creating a decentralised payment method in which only the people for whom the money was intended can spend the money. Unlike current charities, ForT will never have direct access to the funds that have been donated. This means that the users can be sure that their money is being spent by the people who were intended to use it. IoT will play an important role in the development of ForT.
We will be developing state of the art software and hardware that will revolutionise the charity dynamics all over the world. We are giving away all of our power to the donors — there is no single authority that regulates or decides on the use of the funds.
From a technical point of view ForT is made up of three different devices — the first of which will be owned by the individual that is making use of the donations. Furthermore, ForT will utilise a fingerprint ID reader working simultaneously with a hash machine, where the merchant will have the ability to identify the hashes that appear in each individual’s personal device. Additionally, we will create an application on top of the IOTA tangle, this application will operate together with the three aforementioned devices.
In terms of providing distributed value for investors, ForT will use its own token — “ForT”- based on IOTA tangle. While we do not aim to replace every existing charity, we do aim to become influential enough to attract the attention of larger charity organisations; who will subsequently seek to implement our service to improve their own efficiency. Everyone in the world, that wonders where their money is going when they donate to a charity, will rest assured knowing that they can check exactly what their money is being spent on — with the help of the tangle.
This revolution of the Charity industry will not happen in a single day but rather in a set of calculated phases. It will be a long and extensive transition, but the results will be remarkably beneficial.
It is imperative to highlight that ForT is a nonprofit organisation that aims to improve the quality and availability of aid to people in need, while creating the transparency that is not currently present within this industry. Therefore, investors have to understand that this will not return money at all, except perhaps if we receive a bid for the proprietary technology.
If you run a charity or work closely with one, ForT is a great opportunity for you. It will provide a direct line of access for the people who are in need to take advantage of the donations, while reducing to zero the operational costs of that department of the charity.
ForT is a multi-agent system, which hands the donations through smart contracts. The device can be automated depending on the use case. The ForT system will use an Artificial Intelligence algorithm to learn where the funds are most needed at a given time and redirect them. It does this based on the amount of money spent by zone and device, and is constantly recalculating rates and daily limits to offer the most fair division of equity possible.
ForT is easy to setup and use for both donors and users. The donations process will work through Paypal or through the websites
ForT is a malleable product that can adapt to many different situations, usually charities only focus on a single issue, however ForT can tackle a multitude of issues in different parts of the world, without incurring in extra costs.
The ForT Project can be used to tackle homeless people’s reinsertion into society. The charity also provides a very stable and reusable strategy to ensure that a plan for reinsertion is taking place at every single moment. An overview of when and where homeless people will be able to spend their funds is detailed below:
- Hostels
- Supermarket
- Clothing
- Gym membership
- Counselling
- Drug Rehabilitation
- Educational Workshops
- Public transport
- Medication, etc
The problem of homelessness is going to be addressed by offering positive reinforcement to homeless people willing to go through a programme that aims to reinsert them into society. In case this is not possible, the program will destine funds for the care of people who cannot take care of themselves.
To wrap it up, ForT has innumerable real-world applications, the ease of use and the much-needed transparency in a very opaque industry, will hopefully be welcomed by the grand majority of donors. Development has already been underway for a while now, and will continue do so until Q4 of 2017, where we plan to release an alpha trial in London. Huge thanks to Gary Simon for designing the logo! Do take a minute to check out how he created the logo and the reasoning behind it at “How To Design A Crypto Currency Logo”. Or check out his youtube tutorial.
