A secure platform for making charitable donations online - Giftcoin

In March 2017, Proactive Intelligence Team of NFIB (The National Fraud Intelligence Bureau) in the UK reported a new type of social media scam. It is mentioned in that report that fraudsters are using social media to attract victims into donating money to fake animal welfare charities. Your donations will not go to a legitimate charity organization but to a fraudster who will transfer that fund to someone else for doing criminal activities. Sounds alarming? Yes. Even though you can donate to a charity easily online, you should make sure that the charity is trustable and the money you are donating will be used for the good cause. Listed below are some of the challenges that are faced by the donors while making online donations.

• Fake Charities: Scammers impersonate genuine charities and trick you to donate money after natural or unnatural disasters. They also play with your emotions by claiming to help children or animals who are ill.

• Part payment to Needy: Few Charity Organizations only give minimum or partial amount to needy. They utilize the remaining amount for their personal use without your knowledge.

• Hacking of your Bank Details: While paying online you are unknowingly giving access to your bank details and credit cards which can be hacked, or scammers can debit more money from your bank.

• Increasing Distrust in Donors: These kind of online donation scams are spreading distrust among donors and they are losing their interest towards charities. As a result, those who are in need are not getting enough or on time help.

• Breaching of Personal Details: Few charity websites may also leak your personal details like your home address or your email address to fraudsters.

How to find out a trusted charity online and donate?

Giftcoin provides a solution for the problem by developing an innovative blockchain based platform exclusively for making charitable donations. The main objective of the platform is to make the donors get full satisfaction and guarantee that their money is really used for the good cause. To achieve this goal, the platform will release the funds provided by the donors on stages after the successful completion of every milestone. So, it becomes mandatory for the charity to create several milestones for the project and complete that on time. Once a milestone is achieved, it will be validated by an individual arbitrator or verify who will do the inspection and certify that the milestone has been achieved. After that, the platform will automatically notify the donor about the completion and release the funds for the next stage. In this way, the charity cannot misuse the money and the donor will also be able to track the progress of the project till its completion.

To know more information about the platform, please visit https://www.giftcoin.org/GiftCoin_Whitepaper_v1_3.pdf

Giftcoin platform uses the blockchain based smart contracts for tracking the progress of every fundraising project. So, the donations can be made only in the form of Giftcoins, a utility token that will be issued by the company during its token sale. Donors need to convert their fiat currencies to Giftcoins for making the donations. For getting more information about the token sale event, https://www.giftcoin.org/

Thank you for your time,
Jack Andrew