- CharityStars has launched its own cryptocurrency in order to allocate the money from donations to charity. AidCoin’s Ico is scheduled for December 15.
Although there is still no absolute certainty about the ultimate fate of cryptocurrencies and despite the Bitcoin phenomenon with the incredible surge in recent weeks has brought the blockchain to the general attention, many still wonder what purposes cryptocurrencies can actually serve.
An interpretation justifies their existence and constant appreciation on the markets of recent times because it is a payment tool (and currency transfer method too) for those who cannot or do not want access to traditional channels. However, one of the fundamental characteristics of the blockchain, the total traceability of all individual transactions makes cryptocurrencies very attractive also for other purposes, precisely those for which the possibility to follow the path of the payment itself is crucial.
With this in mind, CharityStars, the platform that allows you to raise funds online for philanthropic initiatives by auctioning, for example, appointments with famous people or collectible objects offered as donations, has created its own cryptocurrency, AidCoin. The overt intent is to exploit the transparency and traceability of the blockchain infrastructure to make the flow of charitable donations as easy as possible.
AidCoin consequently plans to become an instrument that allows everyone to follow the path of one’s donations from the moment of the first donation up to its final payment to the recipients. Many more people would be willing to donate in this way knowing that their contribution will really come to its destination overcoming one of the strongest resistances for anyone involved in a fundraising activity.
Traceable flows between donors and final beneficiaries can be achieved thanks to the blockchain, which records and validates all transactions in each of its passages.
30% of the total amount of currency units available on 15 December
So far, Aidcoin's initial performance has been very satisfying, having already raised $4 million in pre-orders. As this phase is over, the Ico (Initial Coin Offering) is already scheduled for December 15. On sale there will be another 30% of the total amount of currency units, equal to approximately 12 million dollars. Once the Ico has been completed, coins can be exchanged freely and used to raise and transfer funds and make international payments for charitable purposes.
AidCoin’s Ico has been entrusted to Bitcoin Suisse AG, a Swiss financial intermediary specialising in cryptocurrencies, which has already handled 20 bids and raised more than $500 million.
Soon you will have the opportunity to track your international payments for charitable purposes through this new tool that thanks to blockchain technology and money transfer companies and brokers will allow you to use international payments to support philanthropic actions around the world. For more information on how to carry out currency transfers consult our online comparison tool.
