Category Archives: Giftcoin

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UTRUST Just Made Charitable Donations a Whole Lot Easier as Crypto Flows to Charity

Blockchain-based payment platform, UTRUST and AidCoin will combine forces to enable charitable donations across the world in 23 different cryptocurrencies.

The project is being launched to simplify donations in multiple countries via the UTRUST interface. The new system is set to replace methods whereby a donor transferred and then converted funds into AidCoin tokens or through a donate button allowing donors to transfer UTK from their UTRUST wallet to the AIDChain wallets of various charities.

The new donation system called AIDPay is a widget which allows the donor to use any one of 23 supported cryptocurrencies to pay charities registered with AIDChain online using a fully trackable system including how the money is dispersed and what on.

There’s been a significant rise in the number of charities supported by cryptocurrency donations in the recent years. Some of these include Electronic Frontier Foundation, Multidisciplinary Association for Psychedelic Studies, WikiLeaks, Antiwar.com, Watsi, Water Project, Code to Inspire, BitGive and Epic Change.

In such a scenario, not even a single day passes without the release of another crypto-aid project or a way to make donations and fund utilization more transparent so that NGOs and private charities are more accountable.

Brian Armstrong, the CEO of digital currency service Coinbase, recently announce the launch of a project to help the homeless and other people out of poverty with a personal USD 1 million donation.  GiveCrypto is a global enterprise which will make cryptocurrency donations to worthy recipients, who will then be able to make personal choices in whether to keep their cryptocurrency donations or exchange them for fiat.

Madonna with her Raising Malawi project has built 14 schools in rural Malawi and in partnership with buildOn have educated community members about the importance of girls’ education in that country. Ripple too, was quick to support her project with a dollar for dollar match of donated funds.

Even English Heritage, a UK charity that provides the country with access to over 400 historical sites, buildings, monuments and places, has found a way of making the technology behind Bitcoin play its part in supporting that country’s historical heritage by partnering with charity platform Giftcoin.

UTRUST’s move is another link in the chain allowing cryptocurrency funds to continue flowing towards needy causes — a forgotten fact by dissenters who happily feed the FUD in these volatile times.

Francesco Nazari Fusetti, CEO and Founder of AidCoin commented:

“We’re excited to introduce an opportunity for crypto-holders to donate cryptocurrency straight from their Utrust wallets seamlessly, or when making a payment…This is, of course, a well-established practice in conventional banking and payments solutions, and yet until now, has been an unprecedented case in the crypto world.”

 

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UK Charity Uses Blockchain in Effort to Restore Donator Faith

English Heritage, a UK charity that provides the country with access to over 400 historical sites, buildings, monuments and places, has recently announced that it will be partnering with Blockchain charity platform, Giftcoin.

The charity utilizes donations to maintain historical assets such as Stonehenge and Hadrian’s Wall.

The partnership comes at a time when the charity sector has experienced a steady decline in public trust. While technological innovations have been boosting capital in practically every other industry, the charity sector has fallen behind. Millennials especially just don’t seem to have confidence in an industry that has had scathing media coverage of improper practice, damaging commercial partnerships and a lack of transparency when it comes down to seeing how donations are distributed.

Open and honest via the blockchain

Those few points are just the tip of the iceberg, and yet again blockchain technology finds itself in the position of providing a solution.

The charity received roughly GBP 2.5 million in donations in 2015/2016 and is setting out to be self-funded by 2023. On their website, they carefully lay out how they intend to distribute present and future funds and now with Giftcoin, English Heritage can communicate openly with donors, showing them exactly where the money goes and how the funds will be spent.

English Heritage isn’t the only charity to be working with Giftcoin, a technology that makes it possible for any user to browse through the ledger that is owned and maintained by all the users of the system.

Being paired with the Giftcoin platform or another charity-focused blockchain solution or cryptocurrency means that a charity can give their donors confidence in knowing that funds donated will be used for the exact reasons that the charity has stated.

Luke Purser, development director at English Heritage, said in an interview with CityWire.co.uk:

“English Heritage cares for the places where England’s stories were forged and where they can be retold. To do this, we often use the latest technologies and so we’re pleased to see the new initiative from Giftcoin, which will help charities communicate to donors how and where their funds are being used. We hope this will be a great new way to raise more funds to support our important work.”

The reason blockchain technologies will be a staple in the future of charitable efforts is because it repairs a lost trust between donors and charities, especially the faith of the millennial generation.

Altruism is alive and well but donors want to be sure that their donations will not be used to cover overheads like staff wages, office rentals and printing leaflets. They want to see that the funds will be used as they are advertised to be.

One of the most treasured charities in the UK, English Heritage has taken the bold step forward into a blockchain future and it could prove to be a wholly positive move for the charity sector.

 

 

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