Overview

  • Country United Kingdom
  • CategoryDrugs & Healthcare/ Health Data Ecosystem and Marketplace

The world's first cryptocurrency for charitable giving and good causes.

Project stage

Prototype

Detailed description

Giftcoin is a groundbreaking new tool that uses the blockchain to revolutionise charitable giving - directly engaging donors in the validation of key milestones and helping not-for-profits automate the process of impact reporting.

Giftcoin is looking to disrupt the charitable giving and good causes sector using blockchain technology and crypto currency. Smart contracts will be used to track the direct impact of donations. Thereby giving donors increased confidence, and charities a powerful feedback loop to elicit further support. The Giftcoin vision is to offer a feeless system for end-to-end giving.

For donors
We give them absolute confidence that their funds are being used for the purpose they donated. 

For good causes
We offer the chance to build trust and confidence via greater transparency, bringing them more money to increase their impact. 

Problem

Charities currently have limited options to receive funds. The majority of donations from fundraising campaigns are received using services such as Giving.com and Virgin Money. Traditional giving platforms are expensive because they are inefficient.

The only way that individuals can currently donate using cryptocurrency is by converting to Bitcoin and donating using a service such as Fidelity Charitable. This is inefficient and not easily scalable. Furthermore, services such as this do nothing to leverage the power of blockchain technology; and change attitudes to the experience of giving.

Solution

The long-term vision of Giftcoin is end-to-end giving. That means, that using a distributed ledger and blockchains you will be able to track the path of the funds you donate to a charity or good cause right up to the point they are spent.

By using a cryptographically secure and tamperproof system which has full public accountability you have utter confidence in the system you are using. Furthermore, by utilising a smart contract in the token, it is possible to release funds in stages only when projects reach key milestones. This means that if a project falters or fails, the funds not yet released can be returned to you as the donor to be donated to a new project.

End-to-end giving
End-to-end giving is a revolution in the charitable giving process that means you can track the path of your donation right up until the point it is spent:

  • Donation is made in Giftcoin
  • A transaction is represented using blockchain technology
  • Recipient receives restricted funds in Giftcoin
  • Record of purchases is transmitted back through the blockchain showing exactly how funds are spent
  • A block is then added to the chain providing an indelible and transparent record of the transaction
  • Uses donation to pay for agreed goods and services.

Features

  • No public mining or PoW 
  • High transaction volume
  • Heterogeneous ledger network - not all nodes are equal
  • Adapted for networks that have very low bandwidth at the edge
Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : GIFT
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 10,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :2,500,000 USD
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Currency token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,000,000,000 GIFT
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :100,000,000 GIFT
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    Undefined tokens will be retained for distribution for community initiatives, business development, academic research, education and market expansion.

      • Token Distribution

          Vesting notes

          • Founders and Team: Founder coins will have a one year lock-in and vest for a further five years allowing founders to sell no more than 20% of their allocation each year.
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      ICO 2 — Ended
      01 Oct 00:00 UTC
      01 Oct 00:00 UTC
      NA No - Uncapped 350,000,000 GIFT
      ICO 1 — Ended
      20 Mar 23:30 UTC
      17 Apr 00:00 UTC
      0.1 USD 5% - 50% - 2,500,000 USD 10,000,000 USD
      ICO 1
      • 50% in pre-sale
      • 25% first 24 hours 
      • 15% first week 
      • 5% second week 
      • 10% bonus are available for advanced whitelisting for the public sale
      Read more about vesting and bonus
      • Team

        • Alex Howard photo
          Alex Howard
          Charity Founder & Visionary
        • Tim Bichara photo
          Tim Bichara
          Product Specialist
        • Ben Evans photo
          Ben Evans
          Technologist and Blockchain Enthusiast
        • Jon Duschinsky photo
          Jon Duschinsky
          World renowned charity advisor (including ALS for Ice Bucket Challenge)
        • Jon Beddoes photo
          Jon Beddoes
          Enterpreneur & Investor
        • Lee Davy-Martin photo
          Lee Davy-Martin
          Partner at Wilson Wright LLP
      • Advisors

        • Chester Mojay-Sinclare
          Founder of Charity Checkout
        • Lady Astor of Hever
          Author and charity activist
        • Shirley Conran
          Author and charity activist
        • Mark Hirschfield
          Entrepreneur and Investor
        • Kristopher B. Jones
          Entrepreneur and Investor
        • Simon Squibb
          Entrepreneur and Investor
        • Jonathan Oakley
          Music Mogul

      Roadmap

      • Mar 2018
        First token event

        Preparing for a big day when you will be able to participate in our cause. Giftcoin will start selling on 20th of March 2018, at 9:30 EST. We hope you can join us!

      • Jul 2018
        MVP release

        MVP will meet all the core requirements for the platform to exercise its purpose. 

      • Sep 2018
        Beta version release

        Start of the second Giftcoin token sale, with a fully functional product.

      • Oct 2018
        Final product rollout

        The full, all guns blazing rollout of Giftcoin is planned as THE charitable and good causes currency. It’s time to small change the world!

      Activity