The Humancoin ICO is a unique ICO project that brings together the philanthropy industry, retail e-commerce, and the cryptocurrency market. Therefore, it targets the combined value of a 3.5 trillion-dollar market. The current philanthropy industry lacks the trust and no one gets to know whether the money they donated reached the charity in its entirety.
Rewarding people who shop on E-commerce websites and allowing them to donate it to charity instantly helps bring the blockchain technology to mainstream usage. The Humancoin platform also comes with a set of unique features that sets it apart from the rest of the ICOs out there.
Proof of mining: Most of the existing cryptocurrencies out there currently use the old fashioned proof of work consensus to generate new coins. However, this is highly inefficient and has, so far, hindered the widespread integration of the blockchain technology. However, Humancoin has a new take on this with the new consensus mechanism called the proof of charity mechanism.
In this method, whenever someone sends a certain amount of tokens to a charity of their choice, they are, in turn,rewarded with half the tokens that they had sent. This is the only way to generate new tokens on the platform. This will also encourage more people to donate more frequently as they get rewarded for the same. Donating also solidifies the emotional bond between the user and the charity as well.
The Humancoin token is very versatile: The Humancoin token itself is very versatile and can be used for several different things. Users can use it to donate to charities of their choice worldwide. Users can also exchange the Humancoin token for any other cryptocurrency by transferring it into a cryptocurrency exchange. Alternatively, users can also use it to buy Airline miles, loyalty points of other E-commerce websites, as well as gift cards.
It is this feature that makes the token highly usable. Loyalty points usually come with an expiry date. However, the Humancoin token does not have an expiry date and since it can be used on any other website, there will not be any wastage of the token either.
The price of the token will increase rapidly as the number of partners of the Humancoin platform increase. The more the users, the greater the prices. Additionally, on the final release of the platform,, the price of the token will increase.
This is because of the fact that the tokens are going to be bought back every quarter after its release. Thus, the price of the token is set to increase five times every quarter. So, get your hands on the tokens during the token sale to get extra bonus and also buy the tokens at a lower cost.
Global E-commerce loyalty program: The Humancoin project is the only ICO project with the potential to become the only global loyalty program. The whole system is open and is based on the blockchain technology and hence, there are no trust issues either.
Nor will there be any currency conversion issue,as all this is governed by smart contracts that cannot be corrupted. By being the single loyalty program globally, these tokens will be usable on any E-commerce website out there. Thus, creating a Pangea once again.
The emotional bond between the customers and the E-commerce websites are also high due to the Humancoin platform. Users who earn the Humancoin token for shopping online will have the opportunity to donate their earnings to various charities across the globe. This feature helps them build a strong emotional bond with the websites.
Thus, it helps satisfy the existing customers as well as bring new customers into the platform. The whole process of donating is also very rewarding. Whenever you donate, you are rewarded with half of the total tokens that you donated. This is a reward for your good deed.
Not competing with existing systems: Most of the ICOs usually target an existing flaw in the current system and find a solution. The existing system is then replaced with the system developed by the ICO. However, not everyone will be open to changes. Most of the people would rather keep up with the flawed system than replace it entirely. Additionally, replacing one entire system by itself consumes a lot of time, effort, and money. Hence, we still don't have a single ICO that has replaced the centralized methods completely.
This is not the case with the Humancoin ICO. Unlike the other ICOs, Humancoin is not aiming for the replacement of any of the current systems. Instead, this platform is going to be integrated over the existing systems, thus, acting as a super-charged version of the current system. Users can buy things on E-commerce sites the same way they always did. The only difference is that the system employs a more efficient way of rewarding its loyal customers.
The advantages due to the features of the Humancoin platform are enormous.
Donating to charity funds in another country currently costs a lot of money. Users will have to pay for the cross-border transaction fee, currency conversion fee as well as payment processing fee. Thus, the end amount that reaches the charity is extremely low. Humancoin however, eliminates the need for any middlemen. A fee of 5% is charged for processing the payment which serves as the gas price for the transaction to go through.
The whole system is very transparent. The funds you transfer will reach the charity in its entirety. The platform employs various voting techniques to make a list of the various charities around the world based on their reputation. The platform also allows users to set filters to donate to certain types of charities. Thus, this helps users donate to the best charity program out there.
The Humancoin ICO has many unique features that make it very special. Since it integrates over existing platforms, users need not adapt to many changes either. Thus, this contributes towards the cause of widespread usage of the project.
