Giftcoin: World’s First Charitable Cryptocurrency Startup Announces Public Sale
| Updated by Maria Konash · 3 min read
Giftcoin is developing decentralized and accountable ecosystem set to add so much needed transparency to charity fundraising.
London-based fintech startup Giftcoin has made public its partnership with leading charity payment provider ‘Charity Checkout.’ The charitable foundation has links to 2000 other charities, which it will bring to the platform.
The Giftcoin platform has also joined forces with a number of organizations leading the UK and international causes, including English Heritage and trauma-informed yoga charity OURMALA. This last charity is known for its yoga rehabilitation practices, for the treatment of those, who have suffered sexual abuse, torture or trafficking.
Owing to the beauty of blockchain technology, all donations given to the platform are 100% transparent, so all donors can see exactly where their funds are going. This system facilitates the locking of GIFT funds so that only the official charity recipient can unlock and access said funds, once the requirements have been met.
In addition to striving for maximum transparency for all of its charitable donations, Giftcoin is also aiming to change popular opinion about cryptocurrency, which is plagued by volatility and opacity.
Open to all accredited investors, who follow the transparent whitelisting process, the sale for GIFT tokens starts on March 20th, 2018 at 9.30am EST, with Bitcoin and Ethereum accepted as currencies. The project is hard capped at $10M, while the soft cap is set at $2.5M.
Contributors can currently pre-register for the sale, and those who do so receiving an additional 10% bonus. The token sale has a minimum donation requirement of 0.25 ETH, the equivalent of 0.02 Bitcoin, $220, or £158 at the time of writing.
Any participants donating in the initial 24 hours will receive an impressive bonus of 25%, and those who participate within the first week will be eligible for a 15% discount. Second-week participants will also get a generous 5% bonus. All of the funds donated during the token sale will be invested in the further development of Giftcoins technology, marketing, overheads, admin and legal costs. The company expects to launch somewhere around October 2018.
Alex Howard, Co-Founder of Giftcoin was available for comment and offered some inside information about the company’s mission. He stated that the project would help restore public confidence in the charitable giving process and even revolutionize it. He stated that he was well aware of research according to which charities need to be more transparent about where donations are spent. As per Mr. Howard, Giftcoin aims to address this Industry issue.
With their goal to increase transparency, the company shows their dedication to improving engagement between donors and charities. It also aims to ensure more donations are delivered to exactly where they can be the most beneficial.
Luke Purser, Development Director at English Heritage, shared some words about the thinking behind the company’s mantra of transparency. Luke said that English society cares about their charities, from what heritage they came, and what direction they are going. In keeping with this interest, Giftcoin is pleased to help these charities communicate to donors how and where their funds are being used.
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.