Giftcoin represents a revolutionary concept of charity which will employ a decentralized ecosystem to cut the costs of running in an exponentially significant manner. The release of funds towards the causes could be implemented only when specific milestones are met. If these milestones fail to be completed the donated money can be returned to the original donor.

Blockchain technology presents an opportunity in the way that charities can build confidence and engage with donors on a personal level. By being able to track the impact of their donations, people are given total trust that their funds are being used for the cause they initially donated. Furthermore, each stage of the tracking process offers charities a compelling opportunity to innovate in the field of raising money thus increasing the value of their endeavor directly.

Fostering a deeper relationship with the donor will also provide social media assets that the donor can share with their immediate social network, putting the cause directly in front of future donors. Primarily if someone from your peer network donates and you trust their judgment, you are more likely to follow in their footsteps.

Charity led by the Millennials

The people that are now between 20 and 30 years old are more likely to donate when it comes to charities, and other aid relief causes when it’s Christmas time. They are more likely put some time to research their chosen giving causes before they are going to commit to donating, according to significant research conducted by the Worldwide Charity Commissions.

Valuing the experience rather than owning objects young adults are more likely to be much more careful with their respective funds, with over half of millennials polled answering they did at least some sort of background check of the charity’s track record and financial progress before making a considerable donation. At the opposite pole, the number of seniors over 60 that are aiding charities has fallen dramatically over the years.

Giftcoin full cycle:

1. A donation is made to Giftcoin
2. A transaction is registered using blockchain technology
3. The recipient receives the funds in Giftcoin
4. A new block is then added to the chain ecosystem, providing a transparent hyper record
5. A history of purchases is transmitted back through the blockchain showing precisely how these funds are spent

So perhaps you are looking to sponsor the education of a girl in India, or help a family in Indonesia raise money for their house destroyed by tsunamis, or perhaps help build out a well in the arid Ugandan desert full disclosure of the operations will be available. No need to worry about fees as the operating cost of the blockchain is considerably lower than the traditional giving methods, thus ensuring that the entire sum will be donated.

Giving to those in need might be considered a menial task for some, and it's hard to believe that in this day and age there are still people out there that do not have the essential commodities we take for granted on a daily basis.