BCharity provides the system and method of using blockchain technology in transforming global charity. You are about to learn how, let’s start from the beginning.
Blockchain technology and cryptocurrencies represent a paradigm shift in technology which not only creates solution to modern day problems but addresses future challenges as well. BCharity provides the system and method of using this technology in transforming global charity. Let’s start from the beginning.
It is the first international charity exchange to use blockchain technology in addressing modern issues facing global human needs. This cryptocurrency seeks to establish itself as the market leading virtual currency charity platform. According to the whitepaper, there are two methods of achieving this goal;
• By establishing a cryptocurrency based exchanged, with the aim of facilitating purchases of the BCharity Token.
• By using a social network interface that allows charitable organizations / foundations (or individuals) to showcase their story and need
BCharity is not just a cryptocurrency, it is a social enterprise which encourages everyone to become philanthropist. Millennials, the major demographic of this cryptocurrency adoption, are more socially aware and involved in humanitarian initiatives and BCharity provides the perfect platform to do just that. Anyone from anywhere can donate either money, time, or both on a large or small scale.
Aside from Millennials, the exchange also extends to organizations, private charitable parties and charity funds from different part of the world. Also, those in need will be able to share their problem with the world.
The blockchain technology of BCharity is expected to transform the charity ecosystem. Its immediate advantage is the advancement in the way charitable organizations are regulated. However, it has a future benefit of being able to register and monitor charitable initiatives in real-time.
The BCharity has an interface that is both simple and intuitive. Users will have the option of selecting one of two parameters; “Philanthropist” for individual or “Charity” for fund/organization. If you are picking the “Charity” option, a full range of documents would be required to confirm your legitimacy. This include, due diligence and valid status of existence.
The user can start a charity campaign after the verification process. However, a verification process is unnecessary if you are registering as a philanthropist (individual).
All the charitable organizations will accept their BCharity coin donation through their Ethereum wallet address. But philanthropists will be offered two choices after every transaction; the option of being attached to the address of Ethereum wallet used to perform open charitable activities or making an anonymous donation.
There are two established ways of receiving donations on this platform that both fiat and cryptocurrency users will find satisfactory. Here is a break down.
Representative of charitable funds, organizations and individuals can withdraw donations received in their BCharity accounts. This fund would be withdrawn into Ethereum wallets and converted into fiat currency.
When a fund or an organization has reached the necessary amount of donations needed to address a particular problem, but can’t internally handle a cryptocurrency transaction, a withdrawal request can be used. What is a withdrawal request, you ask?
It’s a special form created for the exact purpose outlined above. Users will be able to transfer allocated donations to verified account using this “request to transfer” document. The only prerequisite for the implementation of such a request is the charity registration package. The steps are outlined below;
• Submit a request for withdrawal of fund indicating details of receiving banks
• Perform a manual request processing
• Sell token at current exchange rate
• Withdraw fund to the bank account of the company
• Transfer your fund from BCharity account into your provided bank account
The purpose of BCharity is to collect funds for launching international charity exchange using blockchain technology. As such, BCharity tokens (CHAR) which are based on Ethereum’s smart contract were created to serve this function.
A link would exist between BCharity token and the coin in the blockchain. This will enable the use of BCharity coin in donations within the eco-system.
Characteristics of the BCharity Token
The token is a utility token that follows a deflationary model. What’s more, it has the Ethereum ERC 20 standard.
Any of the currencies outlined below can be used to purchase CHAR;
• Bitcoin
• Bitcoin Classic
• DASH
• Ethereum
• Litecoin
• Monero
• Ripple
• Zcash
Participants of the main phase of the token sale are expected to receive ERC20 BCharity token through the Ethereum network. The amount received will be in direct proportion with the amount contributed during the crowd sale.
The amount of BCharity token that’ll be issued is 100,000,000 CHAR. The distribution of the tokens is simple. Eighty percent of the total supply goes to the users and 10 percent would be distributed among the founders. Five percent is reserved for advisors and consultants, another 3 percent for bounty campaign and 2 percent for partners.
Since the emission of BCharity token occurs once, any token that is not sold will be destroyed.
Distribution of Tokens by Stage
The distribution of tokes varies with each stage. Here is a break down;
The quantity of tokens that is available for purchase at this stage is 5 percent of the total number of tokens, that’s 4,000,000 CHAR. The price at this stage would be 0.35 USD per BCharity token. It extends through the whole of March 2018.
The amount of token that will be available for purchase at this stage is 10 percent of the total number. We are talking about 8,000,000 CHAR. The pre-sale price will be 0.5$ per BCharity token. It begins on 1st of April and lasts the whole month.
Main Sale
The quantity of token that will be available for the main sale is 85 percent of the total tokens, 58,000,000 CHAR. The token at the time of the main sale will be 1 USD per BCharity token. The conducting date is 1 June, 2018 till 30, June 2018.
Users will enjoy bonuses on purchased tokens. It ranges from as little as 3 percent bonus to 25 percent bonus. There is also the bounty campaign which offers reward for different services. For example, campaign on social media, translation into other languages, content creation, etc.
Sources
Website: bcharity.io
Whitepaper: bcharity.io/main/WhitePaper_en.pdf
Facebook: m.facebook.com/bcharity.io
Twitter: m.twitter.com/bcharity
Linkedin: https://www.linkedin.com/company/bcharity/
Medium: https://medium.com/@bcharity_io
Google+: https://plus.google.com/u/5/102016437125112079040
ANN Thread: https://bitcointalk.org/index.php?topic=2821049.0
Authored by: gbenga88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874687
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4
