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CHERR.IO Sets Standards for the Global Charity Industry with a Blockchain Solution

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by Maria Konash · 3 min read
CHERR.IO Sets Standards for the Global Charity Industry with a Blockchain Solution
Photo: CHERR

CHERR, universally applicable blockchain-based platform, aims to modernize the existing fundraising process, increase transparency and restore the faith that the world has in philanthropic causes.

The charity sector is an industry proud of humanity, and there is inherent nobility attached to any organization, individual or entity that engages in philanthropic activities.

The problem is that in recent years, society has seen charitable enterprises grow to become hugely profitable and lucrative industries. These brought up the question: where do all the donations really go? Furthermore, reports are indicating that public faith in charities is in decline, and with trust levels plummeting, it’s very likely that the people, who are in need of these charitable causes, will suffer the most.

CHERR Blockchain for Humanity

To resolve the issue, a blockchain startup from Slovenia has developed a solution that will disrupt the contemporary foundations of the global charity sector.

CHERR is a blockchain solution for all charitable organizations built on the Ethereum blockchain. Being a unique vision for a greater good, the platform ensures traceability and a full audit of transactions. According to the Slovenian Prime Minister, Miro Cerar, CHERR is “the most inspirational project from Slovenia.”

CHERR has an incredibly committed team, who recently won the FutureHack hackathon in Davos during the 2018 World Economic Forum. During this event, developers from all across Europe created innovative blockchain solutions that address the United Nations Sustainable Development Goals (SDG). The fact of taking the first place definitely makes CHERR a very significant project.

Amongst the CHERR accolades is their victory at the ‘ICO Demo Day’ after an invitation from the “Business Angels of Slovenia”, where they went to present their project to qualified investors. Furthermore, the CHERR team has partnered with Caritas Maribor which is one of the largest and oldest charity organizations in Slovenia.

CHERR Tokenomics

Slovenia is undoubtedly embracing the CHERR blockchain solution, which has opened up its first charity campaign ahead of its Token Generation Event (TGE).

The CHERR platform uses an ERC20 compliant token called CHR. The token is utilized on the platform by organizations to list charity campaigns, advertise them and have CHERR whitelisted on their platform. Donors use the CHR tokens to rate organizations, allocate funds from an emergency pool and confirm the legitimacy of spent funds. Token holders will use CHR activating/staking a project for additional reward and buy/lock tokens for participation in the reward system (Proof of Charity).

The public pre-sale is presently live ending in four days, while the official crowdsale begins on June 1st, 2018, and ends on June 15th, 2018. It is important to note that CHERR will be donating 50% of funds raised onward from the reached soft cap (3,750 ETH) to live campaigns. There is a total of 200,000,000 CHR tokens with 120,000,000 available for sale; CHR is priced at 5333 CHR per 1 ETH.

Blockchain News, News
Maria Konash
Editor-in-Chief Maria Konash

Being a successful graduate of Belarusian State Economic University (BSEU), Maria has acquired competencies in economic and social studies. Given Maria’s previous research working experience, and desire to explore what's really shaping the future, the main research focus is placed on FinTech and Blockchain Technology.

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