This Platform Uses Blockchain Technology to Ensure Transparent Donations
Rahul Kalvapalle — January 11, 2018 — Business
References: giftcoin.org & civilsociety
The advent of cryptocurrencies has a lot of people fixated on the thought of making easy money, but one company is looking to harness the wonders of cryptocurrency and blockchain technology for a greater purpose, by using it to fuel the creation of an all-new charitable platform.
Dubbed Giftcoin, the platform would be built around the circulation of a cryptocurrency, also called Giftcoin, which could be used to make donations to charities. Users can purchase Giftcoin tokens and then use them to make donations to charities. The use of blockchain record-keeping means that donors can quickly and easily keep track of how their donations are being used.
By making use of blockchain technology, the Giftcoin charitable platform is looking to address long-held problems with transparency in the world of charitable giving, by using robust technology for the greater good.
Dubbed Giftcoin, the platform would be built around the circulation of a cryptocurrency, also called Giftcoin, which could be used to make donations to charities. Users can purchase Giftcoin tokens and then use them to make donations to charities. The use of blockchain record-keeping means that donors can quickly and easily keep track of how their donations are being used.
By making use of blockchain technology, the Giftcoin charitable platform is looking to address long-held problems with transparency in the world of charitable giving, by using robust technology for the greater good.
Trend Themes
1. Blockchain-based Charitable Giving - Creating a blockchain-based charitable giving platform can provide transparency and accountability, preventing fraud and ensuring donations reach those in need.
2. Cryptocurrency Donations - Accepting cryptocurrency donations, like Giftcoin, provides an easy and secure alternative way for individuals to donate to charities.
3. Transparent Donation Tracking - Using blockchain technology enables more transparency and visibility for donation tracking, making it easier for donors to see the impact of their donations.
Industry Implications
1. Charitable Organizations - Charitable organizations can benefit from blockchain technology and cryptocurrency donations to increase transparency, security and fundraising opportunities.
2. Financial Services - Financial services companies can develop blockchain-based giving platforms or offer cryptocurrency donation services to add a new revenue stream and appeal to socially conscious customers.
3. Technology - Technology companies can help increase transparency in charitable giving by building blockchain-based platforms and developing tools to help donors track their contributions.
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