Humancoin is a revolutionary platform bringing about the synergy of philanthropy industry, retail e-commerce and cryptocurrency markets, which together have a combined value of $3.5 trillion. Humancoin.net (hereinafter Humancoin) is 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.
– Donors can monitor transactions to see that funds are being spent exactly as intended.
– Charities can demonstrate their integrity by providing information on how the funds are being used
– Quick payments (including cross-border transactions) are simplified and the problem of currency and cryptocurrency conversion is solved.
– Automation of all processes can significantly reduce transaction costs.
The Humancoin platform offers a revolutionary solution for the charity industry. The consolidation of blockchain technology, the cryptocurrency market and e-commerce loyalty programs into a project will forever change the charity industry.
Probelms and Solutions
Despite the rise of new mechanisms for donating, the charity industry still cannot overcome its main obstacle – a lack of trust. Donors, most of whom are private individuals, simply lack the means to verify whether their funds have reached the addressee in full and in the required timeframe, even if they transfer the money with the help of specialized organizations. According to various sources, about 20% (or more) of all donated funds end up being kept as administrative expenses by charity foundations. Many are faced with the complexity of cross-border payments (when one wants to help a foreign recipient) and later, potential difficulties with regulatory bodies. In addition, donors are forced to spend a part of their well-intentioned contribution on covering the operational costs of the transaction.
The distributed ledger technology, which is designed to put an end to the middleman, gets rid of the long charity chain composed of banks, NGOs, state bodies and law firms. Blockchain provides a digital mechanism for recording and viewing any transaction. It is important that the record cannot be hacked or modified. Blockchain solves the trust issue by providing transparency, traceability and security. Importantly, the new technology facilitates the development of direct financing platforms on a much larger scale. Philanthropists themselves can ultimately benefit from automated smart contracts as the recipients of grants will only be able to use their funds after meeting mandatory conditions. All the many advantages that blockchain delivers will spur the growth of the charity industry. This new technology is already being studied by major market players such as UNICEF, the World Bank and Bill & Melinda Gates Foundation. Over the past few years, a number of respected charitable organizations such as the Red Cross, Save the Children and United Way, among others, have already begun accepting donations in cryptocurrencies.
High competition in the e-commerce segment puts pressure on players to develop new loyalty programs not only to attract new customers but also to retain existing ones by offering a variety of discounts and benefits. The most pressing
challenge for marketing professionals is to create an emotional attachment. New loyalty programs are constantly appearing on the market, and while the overall idea behind them is sound, among the avalanche of new information that hits daily, it is becoming more and more difficult to engage consumers at an emotional level. A survey conducted by Nielsen group, found that 50% of consumers, surveyed worldwide, would be willing to pay more for goods and services from socially responsible companies.
The integration of consumer loyalty programs with the charity industry will create a strong emotional resonance. The future of online retail lies in being able to completely personalize each offer, and blockchain is one of the main stimulifor this further development.
– Humancoin is an open P2P platform that allows benefactors to make direct pinpoint donations. By design, the project is not tied to any specific charitable organization or local community. The charity world is international, multifaceted and relies on billions of people from all countries and of all nationalities.
– Humancoin does not force the artificial use of its token on charitable transactions. Obviously, projects need to receive funds in their native currency that they are comfortable spending the money in. A project based on the platform specifies which fiat or cryptocurrency it wants to receive donations in. The donor may transfer the money in the desired currency to the recipient using the built-in currency conversion instrument on the Humancoin platform.
– The Humancoin platform can manage the majority of popular crypto and fiat currencies. Humancoin places no limitations upon the projects and users in terms of currencies. The benefactor makes all the decisions independently.
– Humancoin is not planning to spend the funds on creating adaptations of existing technology solutions. The priority remains integration and compatibility with already popular and established market solutions. For instance, instead of creating our own crypto wallet with cryptoexchange functionalities from scratch, we will incorporate an existing solution into
the platform such as Jaxx with ShapeShift. There will also be an option to use multisignature wallets.
– Humancoin’s fee for raising funds for charity will be limited to 5% (which will be used for the future support and development of the platform), whereas the commission taken by existing charitable foundations can be up to 20-30%.
– The platform will feature the industry’s most functional and user-friendly interface, featuring a listing of all the projects broken down by category, a ranking system, voting tools and host of other integrated services.