Giftcoin – The world’s first cryptocurrency specifically for charitable giving and good causes – is set for public sale with a $10m / £7.19m initial token offering.
March 13th 2018, London, UK: Giftcoin has announced a collaboration with leading charity payment provider Charity Checkout to bring their 2000+ charities to the platform. The platform has also partnered with a number of leading UK and international causes, including English Heritage and trauma-informed yoga charity OURMALA, which helps rehabilitate those who have been sexually abused, tortured or trafficked through yoga.
Through the blockchain and smart contracts, donations are 100% transparently tracked with the user able to see exactly how their money is spent. Users are thereby guaranteed that the money they donate goes directly to the cause they are supporting. This structure means donated GIFT funds for projects may only be unlocked by the recipient charity once certain requirements have been met. For example, the funds for a charity to build a new well may only be unlocked once Giftcoin has independently verified that the first stage of the project – securing the land – has been completed.As well as working to enhance transparency around charitable donations, Giftcoin is also aiming through its offering to change wider perceptions around cryptocurrency – a form of currency that is usually otherwise dogged by volatility and opacity.
The sale – which is open to sophisticated/accredited investors – will start on March 20th 2018 9.30am EST, with Bitcoin and Ethereum accepted as currencies. Contributors can currently pre-register for the sale at www.giftcoin.org, with those who do so receiving an additional 10% bonus.
Minimum purchase for the sale is 0.25 ETH, the equivalent of 0.02 BTC / $220 / £158 (at time of writing). Purchases made within the first 24 hours of the sale will receive a 25% discount; those made within the first week a 15% discount; and those within the second week of sale a 5% discount. Proceeds raised from the sale will go towards Giftcoins technology development, marketing, overheads, admin and legal costs, ahead of the currency’s rollout in October 2018.
Alex Howard, Co-Founder of Giftcoin, said:
“Our upcoming token offering – now just a few weeks away – is the first step in our mission to restore public confidence in, and ultimately revolutionise, the charitable giving process. We know from our research that, were charities more transparent about where donations were spent, average consumer giving would increase by 49%. Through greater transparency we are dedicated to improving engagement between donors and charities, ensuring more donations are delivered to exactly where they can do the most good.”
Luke Purser, Development Director at English Heritage, said:
“English Heritage cares for the places where England’s stories were forged and where they can be retold. To do this we often use the latest technologies and so we’re pleased to see the new initiative from Giftcoin, which will help charities communicate to donors how and where their funds are being used. We hope this will be a great new way to raise more funds to support our important work.”
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