How two entrepreneurs took bitcoin as a powerful resource to revive Puerto Rico post Hurricane “Maria”
Coming out of thousand layers of questions and skeptical sights, the ‘Bitcoin’ have managed to secure its position in the list of hot topics going around the globe right now. Not only that it has given hard head-spins to the people who are less literate in its terms, bitcoin have also made some pockets really heavy, digitally. This cryptocurrency, in the simplest terms, is an authority sans digital currency which can be monetized whose value is as volatile as any other market investment that one might make. The nature of being decentralized or devoid of any upper hand has made the bitcoin eligible to travel and transect from one wallet to another from any corner of the world. Nobody, including the government and bank, can signal a finger at you.
Now, while many investors are religiously pouring themselves down into the process, a lot of people are initiating to put them to some good use. Guillermo Aviles, Fabian Velez, citizens of Puerto Rico and Paul McNeal who is currently living in Virginia (USA), saw the island struck harsh with hurricane Maria that recently has caused devastation to over 3.4 million US citizens. It was early in morning on September 20, when a powerful category 4 hurricane made direct landfalls on Puerto Rico and left it to starve in bits and pieces. The storm-ravaged island is still water and electricity-deprived in many parts and deaths polls have confirmed to 64 deaths till now. While the residents are seeking for help from all sources, a crowd-funding platform ‘TokenFund’ took birth on 18 December, 2017. Operating their non- profit organization for Puerto Rico, Guillermo Aviles (President, Cofounder), Fabian Velez (Cofounder) and Paul McNeal (Advisor) have words to spread to the world.
TokenFund is the next generation crowdfunding platform that aims at accepting the current sensation in the world, the bitcoin to make a new impact of the technology on the world. In an attempt to rectify their country’s current scenario into a better one to live, the founders of TokenFund takes the right opportunity of using bitcoin for the best of use. Through the Blockchain technology, it’s quite obvious that the transparency of the fund can be tracked down easily. This way, the person donating the currency can in no way be worried about the wrong channelization which usually is a frame of work in many other crowdfunding platforms. With the Blockchain technology, comes a very low cost of transacting it globally, unlike traditional banking and online payment systems, which can charge quite a high transaction, platform, and currency exchange fees. Considering the damage done to the Island, it’s a desperate need to get funds as quickly as possible and fortunately, funds transferred on the Blockchain are immediately accessible no matter how far they were transferred from.
Guillermo, President and Cofounder ‘TokenFund’ comes from the Aerospace engineering background and also is the president of AEROPOD which involves with leveraging drone technology for aid in Puerto Rico after Hurricane María. The second co-founder, Fabian is a computer engineer who excels in designing and developing production level web experiences, software, business models and marketing strategies. Paul, the advisor of the company has served the United States Navy Submarine Force, has led the Defense Threat Reduction Agency (DTRA) and is a bitcoin Evangelist. It’s needless to mention that he understands and leverage the power of cryptocurrencies like nobody else can do. Coming from such strong fields, the founders have constructed this NPO with a future vision of seeing their country build and grow back from the baneful event. Their plan is to purely disburse the collected funds to the organizations they have tied up with who can then convert the bitcoin into USD thereafter. It’s clearly understood that not everyone owns a bitcoin and to ensure that everyone is able to deliberately donate whatever they want to, there is also an option to give funds in USD directly. TokenFund has been made out of seriously demanding situations and looks out for getting funds to make immediate changes in Puerto Rico. The company, however, doesn’t only have its doors open for the donors but also for those who want to join the team and make whatever difference they can make towards the betterment of the Island.
TokenFund has a future prospect of reaching out as a hand of help to other causes as well. The founders are working towards spreading the words of awareness about how this cryptocurrency can make a change in the world, how this technology can be put in use for many distinct purposes and bring about the need of crowd funds into generating and developing the society. The team is persistent with building a platform where people from all around the world can launch their own campaigns through the company.