Humancoin Introduces New Proof-of-Charity Mining Protocol

Jul 14, 2018 at 09:55 // News
Guest Author
Proof-of-Charity Mining Protocol

Humancoin is a new massive cryptocurrency fuelled by the Proof of Charity mining protocol (which allows to scale it thousands of times). It is also a breakthrough blockchain project, which unites philanthropists and recipients of funds on a single platform in the most convenient and transparent way possible.

Donors (which comprise one in three of us globally) can quickly make donations worldwide, monitor their expenditure online and also receive discounts from the platform’s partners. Charitable projects are able to accept funds with minimal overheads and in the shortest time in any convenient currency.

Humancoin is supported through the synergy of the charity industry and retail e-commerce (which together have a combined value of $3,5 trillion on a single P2P convenient platform). Blockchain technology solves the everlasting charity problems by adding transparency and trace-ability. Association with philanthropy gives Humancoin a unique advantage with  tokens easily converted into any points, miles, bonuses, coupons. This is the first ever blockchain project that has the potential to become a global e-commerce loyalty program aggregator. Instead of competing with existing programs, the Humancoin token is effortlessly integrated into already existing systems — all it requires is setting a conversion rate. Token owners will be incentivized to hold them to take advantage of attractive benefits and this provides a long-term, stable demand for tokens. As the number of partners and the scope of cooperation within the Humancoin Network grows, so does the popularity of the token.

The Humancoin platform will accept applications and collect funds for charities on an ongoing basis. Donors can choose projects directly to benefit from their funds, or alternatively make donations through the Humanpool (a collection of projects selected automatically from those with the highest ratings from the community). The platform provides the opportunity to fully track donations online, as well as introduce voting and ranking for projects and philanthropists along with other features. There is also the option to receive a receipt for each donation to use for tax deduction purposes depending on the donor’s tax jurisdiction.

The future expansion of the project will be financed by the 5%-fee raised from the funds collected for charity projects, which is 4 times lower than the market average.

A fixed number of Humancoin tokens will be made available at the TokenSale. These funds will be used to create the Humancoin P2P blockchain platform and the international network to support the project. At the end of the Token Sale the Humancoin token will be listed on cryptoexchanges. Afterwords, there will be additional token emissions, 100% tied to the actual volume of charitable donations. Proportional to their donations, benefactors receive back 50% of the value of their donation in tokens, according to the exchange-weighted price of the token (in other words, benefactors “buy” or “mine” tokens at the rate of 2x to the price listed on the exchange).

This Proof of Charity concept allows the project scale by thousands of times. Token holders can sell their tokens on a cryptoexchange or hold onto them to in order to take advantage of the attractive discounts from our growing network of partners.

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