Zixx : The Masternode Coins for Charity

You probably heard about Zixx before, or at least, know that there is a coin out there called Zixx, especially if you trade at Cryptopia. I stumbled upon this coins around 1 month ago in Bitcointalk, while I was looking for an interesting project to join in. After a quick reading, I came to a conclusion that this coin is aimed at the charity business. How's that so? I'll tell you why.

A quick glance at Masternodes coins

If you like to read news about cryptocurrencies, then you probably read about this article before https://news.bitcoin.com/most-masternode-coins-are-a-scam/. In that article, you can see that the writers told us that most of masternodes are a scam. Yes, most of them. Why? Because they don't offer any values/utilities in real life.

A lot of the so-called masternodes coins wanted to repeat what happens with Dash, but one thing that they lack is (which is very important) the product. It's a very classic problem, but sadly, lots of folks just like to jump in when they heard the word "masternode" 'cause they wanted to get quick profit as much as possible.

That experiences 'cause some people to doubt new masternodes coins, and Zixx is no exception. You can read at their pre-ANN or ANN thread that there is somebody that doubt Zixx will be successful. (You can read it here: https://bitcointalk.org/index.php?topic=3288986, or https://bitcointalk.org/index.php?topic=3573842)

So, what do I think about Zixx?

Coins for Charity

More than 80% profits for masternode holders. Big, isn't it?

As I've told you before, I believe this coin has a product or utilities that is mainly focused on charity. Just like what you can read from their tag-line:

"We live to give, and our ethos is to support the broader community. A select number of nodes exclusively generate rewards for charitable projects."

Source: https://www.zixx.org/about

They even have a dedicated web page about the charity program at https://www.zixx.org/charity. Based on the information posted on that site, we can conclude that as a member from Zixx community, we can propose a charity to receive funds, while the masternode holders can vote how to allocate the funds. In another word, you can say that in Zixx ecosystem, anybody can ask, "Hi! I wanted to give charities to this X foundation. Can anybody help?", then the masternode will respond, "Sure, guys, how do we respond to this?"

This "coins for charity" identity will become more clear if we take a look at their roadmap (https://www.zixx.org/roadmap). At Q4 2018 they plan to register Zixx Foundation as a legal corporate entity. I believe Project 'Capita' that they wanted to start in 2019 is still going to be related to charities. Probably they will allocate the earnings from there to charities program? Let's see what they'll write about it when the time comes.

Does charity worths it?

The next questions that we should ask are; do we really need such coins? What makes the charity business needs such a thing?

One thing that we should understand is, charity is a 'big business'. Based on the statistics by Charity Navigator (https://www.charitynavigator.org/index.cfm?bay=content.view&cpid=42), you'll see that there's a lot of funds used for charity.

The total money given for charitable organizations in 2017 was $410.02 billion, that's a staggering number. (You can run more than 1000 ICO with it) Most of that money comes from individuals (almost 70% or $286.65 billion). This shows that a lot of people like to donate (and remember, this is only in the US!).

Another interesting statistics. Which cities do you live in?

Considering the facts above, I personally conclude that the demand for a sustainable, simple, easy to use and transparent charity platform is big. People would love to donate if they can trust that their money will be used accordingly. If raising money for charities program to become much easier (let's say, anybody can do that) then the demand for charity program will also increase. This can only happen if there is a platform where somebody can request funds, and on the other hands, those who have the money can freely choose how much money they'll allocate to each request.

If we look at what Zixx propose above, I think it might worth a try to see how this project turns out. People who love to donate can run the masternode, gaining benefits that they'll use for charity. Of course, we'll need a deeper understanding of how this systems work (reading the whitepaper might be a good start).

TL;DR, we should give Zixx their chances. After all, this is not the same as others masternodes coins that don't have any purpose except to get profits.