Origins of AidCoin
The non-profit zone today is value an estimated $2 trillion worldwide, nonetheless headlines in new times have seen the zone eventuality between crime scandals, sum inefficiencies, fake losses and injustice of supports such as the $187 million misappropriations to cancer charities by James T. Reynolds. Recent high-profile scandals embody donors of the Helpers Community Inc. lifting concerns per the injustice of donations and the Trump Foundation revelation to self-dealing.
In other cases, donors are confounded at the miss of results, such as the box of the Red Cross’ disaster to capacitate liberation in Haiti notwithstanding receiving $500 million in donations following the 2010 earthquake. Society has grown doubtful towards the non-profit sector. However, there is a resolution that has the intensity to renovate the industry.
Blockchain-powered intelligent contracts and the adoption of cryptocurrencies transparency, enabling potency and slicing costs. Enter AidCoin; the ERC20 token that aims to turn the elite process to benefaction transparently through the Ethereum blockchain. The AidCoin plan was devised and set in suit by well-established, Venture Capitalist [VC] corroborated gift fundraising platform, CharityStars, which has grown an ecosystem of charities, donors, luminary donors and celebration events which will be pivotal to promote the evident use of the token.
An Instant Success
The AidCoin [AID] token presale launched over the Eidoo ICO Engine on the 20th Nov 2017, and reached the target with still more than 3 days remaining on the countdown. Raising a sum hard tip of 8,333 ETH, or just over $4M at the stream sell rate.
Further events heading up to the ICO token sale on 16th Jan only continued to countenance this initial success, along with the increasing support from famous attention leaders. Part of which enclosed a series of auctions with distinguished leaders in the blockchain space launched by CharityStars in early December. Opportunities enclosed a diversion of poker with Bitcoin Foundation Chairman, Brock Pierce, along with lunch meetings with the likes of ShapeShift CEO, Erik Voorhees and Augur Co-Founder, Jeremy Gardner.
“With the universe focused on the endless good that blockchain will pierce the future, it is always critical to take time to residence the needs of the benefaction as well. This auction has presented the eventuality to do this in an intensely novel and innovative way.”
The array of auctions lifted a towering $137,500 — of which a sizeable $87,000 was lifted by the most new edition of a power lunch with Bitcoin businessman and CEO of Bitcoin.com, Roger Ver, toward his gift of choice; AntiWar.com. Such events following AidCoin’s token presale supposing a clever denote that the association was on to a winning idea, which would continue to hoard destiny support within the blockchain and crypto communities.
Erik Voorhees, CEO of ShapeShift:
“As the use of cryptocurrencies and the adoption of blockchain turn more mainstream the early adopters of this record have a good understanding of responsibility. At the forefront of this revolution, the responsibility is on us to lift approval not only of what the record can grasp but how we contingency work together as a village to grasp it.”
On the 16th January, AidCoin reached the ICO hard tip of 14,333 ETH within the first 90 mins and successfully rising the goal to reignite trust in the third sector.
Overcoming Trust Issues with Transparency
A myriad of scandals has noted 2018 as a dim year for many tellurian charities, with Oxfam reported to losing 7,000 donors alone when news pennyless of the passionate abuse of victims of the 2010 Haiti trembler back in February. Recent news of financial injustice of free donations leaves little room for trust within an increasingly doubtful worldwide network of donors.
In April, Tayside NHS Board concluded to compensate back supports of £2.7M used from Endowment Funds when “faced with a appropriation deficit” in 2013/14, after accusations of injustice from inaugurated officials and newspapers. In one most new news from Attorney General, Barbara D. Underwood, the Wounded Warriors Foundation of Orange County [WWFOC] concluded on a allotment for illegally collecting thousands of dollars in tickets but conducting a raffle.
Following investigate collected in Mar by nfpSynergy, 54% of respondents pronounced they devoted charities ‘a good deal’ or ‘quite a lot’, down from 60% the year before. The need for an renovate in the infrastructure behind appropriation within the third zone couldn’t be more desirable.
This is where blockchain record could step up and pave new opportunities in third zone financial management. The way charities, nonprofits and Non-Governed Organizations [NGOs] conduct their supports are now confirmed through perplexing accounting and need endless investigate to sustain.
The swell in direct for explanation in where charities spend appropriation is an indicator of how digital payments and the blockchain can step in for the advantage of both the donor and the charity. In short, the blockchain can revive faith and trust in those who want to know what their income contributes to by gift radical clarity that can assistance overcome open doubt and reinstall certainty in the sector.
Direct entrance to appropriation for charities. Instantaneous send of currencies opposite borders to free organizations and puncture support will concede faster, more targeted response rates. Lower cost of transferring supports internationally could meant an altogether boost in the supports sent to charities. The blockchain removes any third parties such as remuneration systems, organizations and governments.
This means that charities and non-profits would no longer have to rest on other institutions, like banks and supervision bodies, in the same way. Not only does this cut out a lot of nonessential time, but it also cuts out any nonessential spending.
New fundraising strategies. Due to the rarely divisible inlet of cryptocurrencies, micro-donations turn much more feasible. New fundraising strategies can ask fractional oath amounts from incomparable pools. This could meant lifting additional supports through collecting microscopic “dust” groups of coins from crypto exchanges. Charities could also creatively span this with intelligent contracts for their donors.
This could be in the form of environment implementing incentives. For example, every time you purchase, 0.0000001 of a Bitcoin (or a squeeze commission of your choice) is eliminated to your gift of choice.
Every penny tracked. At present, donating around the blockchain provides the only genuine resolution to tracking a concession down to the last move. Blockchain record is by the inlet wholly transparent. AidCoin aims to implement this and discharge any myth as to how donated and fundraised income is spent.
The categorical goal of the classification is to concede you to lane your donation, following the lane and ensuring the spent in the way you are happy to be compared with. An particular donor would literally be means to lane their concession right through a gift and out the other side. Missing or untraceable income would turn a thing of the past.
AidCoin on the Rise
AidCoin has fast changed from strength to strength in the goal to turn the world’s elite means of cryptocurrency donations on the blockchain, gaining more and more approval within the crypto village the effective use of intelligent contracts and decentralized payments.
Co-Founder and CEO of Quantstamp, Richard Ma, Co-Founder of Bancor Protocol, Galia Benartzi, and most recently, Co-Founder of Cointelegraph, Toni Lane Casserly, have been welcomed as the company’s latest advisors. Solidifying their alignments with the company’s altogether prophesy and desirous design of tracking free donations.
Toni Lane Casserly, Co-Founder of Cointelegraph and AidCoin’s new confidant says:
“I strongly trust in blockchain and cryptocurrencies. Likewise, we trust in charity. If we put those two together, we can have a brighter destiny for all. That’s because we am so penetrating to combine with AidCoin and renovate the gift universe together”
Other highlights of AidCoin’s success before the Jan ICO embody partnerships with Bittrex, UPbit and IDEX, creation the symbol within New York’s 2018 ‘Blockchain Week’, and welcoming on house Naomi Campbell’s ‘Fashion For Relief’ campaign, to which AidCoin and CharityStars powered a live gift auction at her eventuality in Cannes.
Francesco Nazari Fusetti, CEO and Co-Founder of AidCoin says:
“Now that we are listed on 3 tip exchanges it’s time to have the 3 tip charities join the AidCoin network. This way we’ll take the first stairs towards the world, in which AidCoin will be the first thing to come to one’s mind when meditative about crypto and charity.”
AidCoin has good skeleton for growth via the rest of 2018, along with a rarely expected t-shirt debate in partnership with Vivienne Westwood and Michael Carrick.
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