Another major problem is present in the charity market. Most of the times, there is no guarantee that the money in its entirety will reach the people in need. The number of middlemen involved increases the fee and the concerned party eventually receives very less money. Additionally, if money is donated to a charity in another country, then the cross-border exchange would shrink the total money that was meant for the charity.
The only way to fix these problems is to create an open-source and transparent ledger. Hence, the solution was to use the blockchain technology which would eventually lead to the creation of the multi-trillion-dollar project called the Humancoin.
The Humancoin ICO is a blockchain project that combines the E-commerce, Charity and the blockchain technology in order to deliver the ultimate solution to many problems. Users can earn Humancoin as part of the loyalty program whenever they shop on any E-commerce websites. This can be either exchanged on a crypto-exchange or be donated to a charity of your choice. Since there are no middlemen involved, the entire fee is eliminated and the entire amount of money reaches the charity.
During the token sale event, not all tokens are available for sale. New tokens are generated using the proof of charity consensus.
The proof of charity is a new consensus mechanism in which new tokens are generated whenever you send tokens to a charity. Whenever you transfer some funds to a charity, half of the total tokens that you send will be generated and transferred to your wallet. This means that the process of donating money to charity has also become very rewarding. This will further encourage more people to donate to charity.
The whole system is foolproof. This means that no one can cheat the system protocols for his own benefits. Charities from around the world will be listed on the platform. Users can donate funds to these charities either by disclosing their identities, or even anonymously..
The charities will be listed in the order of their reputation. The reputation is decided by a voting system. This means that the most trusted charity is listed at the top. Users can donate funds to the charity of their choice by setting certain filters or also donate to a number of different charities by transferring their funds into a pool called the human pool. The funds in the human pool are transferred equally to different charities.
Since the whole system is on the blockchain, it can be accessed from anywhere in the world. There are no middlemen involved and only a smart-contract governs the entire system. Thus, this eliminates the unwanted fee charged by the numerous payment processors. This also means that inter-border transfers will also be very easy and the huge transfer fees will also be eliminated.
The Humancoin platform has discovered that the only way to get new customers on-board and to keep existing customers happy about an E-commerce site is to create an emotional connection between the two. The traditional loyalty programs have failed to do this. Hence, to create an emotional bond, Humancoin allows people to donate their loyalty earnings to charity and be rewarded even then.
Humancoin will not disrupt any of the existing loyalty programs either. The platform will be integrated on top of the existing loyalty programs. This means that an exchange rate will be provided to the loyalty points on different platforms and users will receive the Humancoin tokens according to these exchange rates.
People who buy the token during the crowd sale will be able to exchange these tokens on an exchange, shop for free on the websites that have integrated the Humancoin platform or even donate to charity. Whenever you shop on any E-commerce website that has integrated the Humancoin platform, you receive rewards in the form of Humancoin tokens. These tokens can be used to shop on any other platform that is integrated with Humancoin. Alternatively, you can also exchange it on crypto exchanges and donate it to various charities.
Every time you donate the Humancoin token to a charity, new tokens will be generated that are equal to half of the tokens that you had donated, thus, rewarding users for donating as well. Since the whole system is on the blockchain, you can donate instantly to any charity, which is not the case with traditional donations that take several days to get credited to the respective charities.
The overall use of the Humancoin platform is truly magnificent.
E-commerce: E-commerce websites will be able to attract new customers as well as satisfy the existing ones by creating an emotional bond between the people and the website.
Charity: Charities around the world will now receive the funds they need very quickly. There will not be any delay because a smart contract eliminates the need for middlemen and payment processors for the system.
Users are rewarded every time they shop online and they can use this reward token on any of the platforms that has integrated the Humancoin system. Additionally, users can be sure that the funds that they donate to the charities reach the right people in its entirety. Users are also rewarded for donating. Thus, increasing the donations to charities around the world.
Conclusion:
The Humancoin platform has a unique design and from the initial outlook, seems to be a platform with high potential. Once it is released, it will make marvels in multiple markets.
