Vivienne Westwood helping raise stable coins with AidCoin: new showcase in Peru!
Last year was rich in achievements for AidCoin and one of the latest and most spectacular ones is Vivienne Westwood’s CharityStars campaign that got endorsed by Kate Moss, Celine Dion, and others. Besides its amazing traction with the international community of celebrities and great promotion opportunities it opened up for AidCoin, there is also another exceptional thing about it: it is the first showcase of fundraising and funds management in DAI stable coin, which we introduced to AIDchain to solve the problem of volatility.
What is special about this campaign?
The $20k raised in the CharityStars campaign went to Cool Earth, which has saved nearly a million acres of rainforests to date. But unlike other charities benefiting from CharityStars fundraising campaigns, Cool Earth chose to receive the funds through AIDChain in DAI — a dollar pegged cryptocurrency (1 DAI = $1), see its Etherscan wallet and the screenshots below. And even though it was the first time that the charity dealt with crypto, thanks to our team’s guidance it had a positive experience of receiving and spending the donation. Moreover, this campaign proved that DAI introduction was a great decision as it helped the charity to avoid a lot of hassle connected to the current state of the crypto market. So today, we’re ready to share the results!
As you can see at Cool Earth’s page on AIDChain or the screenshot below, the charity spent the funds to pay two Service providers.
First, Cool Earth sent 20% of the funds raised (3,816 DAI) to the AIDChain wallet of the fundraising organizer, CharityStars & AidCoin. You can track this transaction on the blockchain right here by following “Transaction Hash” or check out the screenshot below. Moreover, as we had previously announced, this fee that the charity paid us wasn’t added to our profits. Instead, we used it to buy AID and reduce the token supply available on the market.
The second provider, Ashaninka Community who is developing a number of nutrition, health, and educational activities in Peru, received the rest of the money in DAI. However, after a long negotiation process with the members of the community, they were urged to convert it to fiat using the Wyre service as in that area of Peru it is too hard to transact with crypto and the fiat money was needed urgently. You can track these transactions on the blockchain right here by following “Transaction Hash” or see the screenshot below.
Later, just like Alice for Children did with their crypto fundraising campaign, Cool Earth will add pictures and stories of how the money was spent on the spot to better showcase their achievements.
Cool Earth is still a pioneer in the New Era of Charity that is taking its first steps in a world still ruled by fiat. As the crypo gains ground Cool Earth will be able to implement increasingly complex projects whilst maintaining full transparency of how the funds are managed, however at the moment it is not always as easy as we wish. It remains to be seen how fast charities progress in this direction but one thing is certain: the ball has been set rolling and there’s no turning back.
We hope in 2019 to see more and more cutting edge charity adopting blockchain to show exactly the distribution of funds collected!
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