The Gift from Blockchain – Giftcoin

Introducing Giftcoin

Charity is a common practice in most, if not all human societies; it’s a way in which people that are more privileged give out what they have in the quest to make life easier for those that are not so privileged.  Charitable giving has become even a more common practice in the 20th century as the mass media has created a platform for raising awareness for every kind of charitable cause possible.
Photo by freestocks.org on Unsplash 
People now have several platforms in which they can give out to charities in their own capacities, either by making donations towards a cause, raising awareness for the cause or by volunteering manpower in helping the implementation of these charitable causes.
The charity industry is a multi-billion dollars industry, with pace setters like the “Bill & Melinda Gates Foundation” guided by the belief that every life has equal value, gives out billions of dollars yearly to charitable causes like improving health of people in developing countries as with polio vaccinations in Africa, or some other forms of assistance offered to people even in the united states and all over the world.
Photo by bill wegener on Unsplash 
Charity can be regarded as equally a humanitarian as it is a financial industry.

The Problem

Fraud: The major problem with charity like every other sector of this scale is that they are susceptible to fraud and mismanagement of funds. Charities have often become hunting grounds for scammers who prey on the goodwill and benevolence of donors and volunteers.
Types of charity frauds
Charity frauds basically take two forms; 
  • Internal; misuse of charity funds and false expenses
  • External; unauthorized fundraising and credit card scams 
Transaction Fees: unlike the traditional giving platforms which charges high transaction fees when donors are giving and are not easily scalable or donors especially people donating in crypto form. There lies a big problem because, the money spent on credit card fees and other forms of transaction fees can actually make a difference when added to the amount currently being donated for charity causes.

What is Giftcoin?

Giftcoin is a Blockchain platform and coin created to tackle problems that exist in the charity sector like; charity scams, ensuring funds gets used for what they are assigned for and also help in raising funds for charitable causes through innovative means with no fees spent on transactions.
Giftcoin is a first of its kind, a brand new and innovative system which has being designed to revolutionize the way charitable giving is done by bringing a previously far-fetched level of transparency to improve the trust of donors.
Humanity has a lot of values that cuts across every human society like; affection, empathy and benevolence for fellow humans. The ability to not turn the blind eye towards a fellow person in need is strength and may also be used as a weakness to defraud people. Trust is charitable giving is an expensive commodity.
Giftcoin’s vision is to create a world where a donor can have complete trust and confidence that they are donating towards a real cause and the funds they are donating are going towards serving the stated purpose. A world where help recipients actually receive the intended help and the funds are not misused along the way.
Giftcoin consist of a Blockchain, a coin and a decentralized application all together creating an ecosystem where the donors, charity organizations and help receivers are interconnected in an open and clear way.

Why is Giftcoin Needed?

No one likes to be taken for a fool or defrauded and a lot of people today donate towards charitable causes not because they have full belief that their donations are used for the right purpose, but because they can’t just stand by and do nothing. On the other hand the people whom this fund has been assigned to help get less than the funds allocated or nothing at all and basically have nothing to prove their case.
What does this mean? It means that with transparency and process tracking, there is a room for growth in the funds being donated for charitable causes, meaning more lives touched, more kids getting an education, better health care for less privileged people and better provision for those whom are victims of disasters or wars.
There is a popular saying; “All fingers are not equal” Meaning by nature’s design some people are always going to be more privileged than others, but people should never to worry they are getting played while they are trying to help others.
Giftcoin is creating that much needed trust and openness in the process of giving. 
In the next part of this series I will be discussing how the Giftcoin platform works to provide a solution to the problems stated above and more.
Get involved with the conversation on the Giftcoin telegram community https://t.me/GiftcoinCrypto  and visit the website https://www.giftcoin.org/  ANN thread https://bitcointalk.org/index.php?topic=2828871.0  or download and read the Whitepaper https://www.giftcoin.org/GiftCoin_Whitepaper.pdf  for more information about the project and token sale.
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