Humancoin

Humancoin is a P2P platform and ecosystem that brings together donors, recipients and e-commerce players. The platform's interface lets participants quickly send donations to any country in the popular currency, to monitor transactions and view reports on their charitable activities, as well as to use international customer loyalty programs.

The Humancoin platform is designed with the goal of facilitating the process of interaction between philanthropists and beneficiaries to the greatest possible extent:

· breakdown of projects by category and subcategory, such as health, natural disasters, religion and environment

· various mechanisms for ranking projects and creating online polls

· data on the legal and financial verification of each project (forensic audit)

· integrated wallet with currency conversion

· translations into various languages

· mobile application

· built-in messenger

· expenditure tracker and online reports

· convenient dashboard with individual settings for users.

Token mining. Proof of Charity - Website : https://www.humancoin.net/

Even a modest 1% of the charity industry turnover accounts for 25 times more than the number of Humancoin tokens issued at the Token Sale. Therefore, in order to provide further rewards to benefactors, the company will issue additional tokens after the Token Sale, in strict correlation to the actual amount of funds raised on the platform.

The platform's smart contract will grant additional issues of tokens in limited tranches (1 billion tokens each), which will depend on the volume of funds raised and are based on the need to reward benefactors in proportion to their donations. New tokens for other purposes, apart from rewarding donors, will not be issued.

Proportional to their donations, benefactors receive back 50% of the value of their donation in tokens, according to the exchange-weighted price of the token (in other words, benefactors “buy” or “mine” tokens at the rate of 2x to the price listed on the exchange). For example, a patron donates the equivalent of $1,000 to charity projects on the Humancoin platform. If the average exchange rate of the Humancoin token is, for example, $2, the donor is credited with 1000/ (2×2) = 250 Humancoin tokens.

Token holders will be able to sell their tokens on cryptoexchanges or keep them for benefits in the ever-growing partner network. All tokens exchanged for benefits from e-commerce partners on the platform will be taken out of circulation and burned.

The Proof of Charity concept allows the project to scale hundreds and thousands of times and, therefore, places no restrictions on the number of participants that can get involved: new projects, donors and e-commerce market players will be able to become part of the Humancoin community in the future.

Problem

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.

Solution | Website : https://www.humancoin.net/

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.