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Giftcoin (GIFT) ICO Review – ICO Token News

There are many people across the world interested in donating money to charities. But, due to a lack of transparency on where these donated funds are exactly being used, many people don’t donate. On the other hand, some people prefer to donate in the form of cryptocurrency, but there is no platform that allows digital token to be used for charitable purposes.

To resolve these issues, a company wants to introduce a new concept that builds absolute trust and confidence among donors that their money is being utilized for a good cause. The main aim of the company is to launch a new system that provides a transparent and reliable platform for donors and charitable projects, free of charge.

Giftcoin Intro

All about Giftcoin

Giftcoin is a decentralized blockchain-based system specially designed to build trust among donors for charity. It is the foremost cryptocurrency dedicated to supporting the noble cause of charity and is committed to building transparency and trust for donors. The company wants to help people who are in need by making the donation system easier and transparent for the donors. Making donations is important but donors should be aware of where their money is being used.

There are many trusts and companies that provide opportunities to help people who are in need, but this company wants to provide something more than that. They aim to promote a charity while maintaining the confidence and trust of the donors.

Giftcoin is completely different to other cryptocurrencies. According to the company, this project has great capacity to change the attitude of the general public towards the process of giving as well as to the value of cryptocurrencies.

Features

Ensure transparency on your charitable donation

  1. The system is powered by smart contracts, which means that all transactions will be tracked to check the direct impact of donations.
  2. This will enhance the trust and confidence of the donors in charities and give powerful feedback for the future.

Make a difference

  1. The app will contribute to converting small change into Giftcoin.
  2. Users can download the app and easily automate the monthly donation, let their coins accumulate, or select for different causes each month.

What problems is Giftcoin resolving?

A charitable donation is a huge business and the team behind Giftcoin believes that this business could become wider and larger. Donations are made for good reasons therefore the team wants to make this process transparent and reliable so that people can trust in it and the number of charities will increase dramatically as a result. After all, when people receive correct information on where their funds are going, they will be more likely to donate.

Currently, charities have very few options through which they can raise funds. The maximum amount of donation is received from campaigns organized via different services like Virgin Money and Giving.com. But, these services charge high fees such as processing fees, credit card fees, etc. which is a loss for charitable trusts.

In order to resolve these issues and increase people’s trust in charity, Giftcoin brings an effective solution with blockchain technology.

Giftcoin Proceeds

Fee-free giving

  1. The traditional platforms designed for donation purposes are inefficient and charge high processing fees.
  2. The Giftcoin is using the power of blockchain technology (similar to other ICO tokens such as Mango Start Ups, Gamblica, Alttex, THEFANDOME, PAYSURA, BunnyToken, KickCity, Amon to design a platform that makes the donation process trustworthy, reliable, and easy without any additional charges.
  3. This means donors can confidently donate money and track the record of where their money will be used.

Millennial giving

  1. Millennials belong to the next generation of charitable donors who believe in a different way of giving from the previous generation.
  2. Most of the millennials trust charities but some of them believe that only a portion of the money donated will be used for its actual cause.
  3. This lack of trust is one of the prime elements impacting on their engagement towards charity.
  4. The Giftcoin is endeavouring to resolve this root cause.

Use of blockchain

By using blockchain technology (similar to other tokens like StealthGrid, Vinchain, Cashbet, NeumCoin, Thrive, BeEasy, Ice Rock Mining, SmartGenie) , Giftcoin has started a new revolution for building trust in charities as well as promoting the engagement of donors. By introducing a blockchain-enabled system, they allow donors to track the impact of the money they have donated and check whether their funds are used for that cause or not.

This tracking process also provides an opportunity to charities to drive engagement by communicating with people and showing the value of their work. This communication will surely prove beneficial in improving the relationship with the donor. In addition, donors can help charities by engaging with more people via their networks and thus recommending the charity to future donors.

How does it work?

The Giftcoin app allows the conversion of a small amount of money, leftover from your daily spending, into Giftcoin. This money will be used for donation purposes and make a huge difference without spending much of your money. The money will be divided when you are doing shopping and you will not even feel that you are spending a huge amount for donation.

Explanation of its collection process

The process of accumulating Giftcoin is a very simple process. This system allows people to support a charity or at the time of a disaster when people really need help. The company has developed the biggest app by using cutting edge technology and believes that the Giftcoin round-up app will act as a key to getting people to store currency automatically in their wallet.

Giftcoin Works

Steps of its collection process:

  1. Setup

The user will download their secure wallet and link it with their bank account. Then, they have to set an amount of coins limit for every month to avoid any further issues.

  1. Spend

When users make a purchase, their Giftcoin wallet rounds up to the nearest dollar and accumulates the difference into the Giftcoin that are stored in the wallet.

  1. Donate

Once coins are collected in the user wallet they have three options of donating them:

  1. They can set their wallet to donate the amount for a selected cause automatically each month.
  2. They can donate manually as per their wish.
  3. They can collect coins to use in the future.

End-to-end giving

End-to-end giving is a way of transforming the charity-giving process by allowing every donor to track the path of their donation right up to the next step of where it will be used. The platform will use a cryptographically secure and tamper-proof system so that users can trust it with confidence. Moreover, it will be based on smart contracts in a token which means that the transaction is securely done and transparent to everyone.

Role of smart contracts

The team wants to use the power of smart contracts in their end-to-end giving mission. But, this will be done only when the people of the end value chain such as workers, suppliers providing resources etc, will be paid in Giftcoin. The inclusion of smart contracts will allow this complete process to be transparent and reliable. Moreover, it will also encourage people to donate because they know where the money will be utilized and for which noble cause. This project is technically possible, but it requires an acceptance of cryptocurrencies among the users.

Therefore, Giftcoin is moving towards the end-to-end giving process but first, they will offer a system where projects are divided into specific targets and funds to be released only when projects meet their target.

It means that Giftcoin can provide an initial working system that provides a few core values of the project with smart contract features.

Roadmap of Giftcoin

March 2018: First token event

The company will prepare for the day when everyone can participate in their project. They will sell Giftcoins from March 20, 2018, at 9:30 EST.

July 2018: Minimum Viable Product (MVP) release.

The company’s MVP will accomplish all the core requirements for the platform in order to establish its targets. They are hoping for the first batch of charity organizations from which you can choose and use fully operational currency.

September 2018: Beta version release

In this phase, Giftcoin wants to start their second token sale with the fully operational product.

October 2018: Final product rollout

Finally, it’s a time to change the world. The complete process of Giftcoin is planned to create a charitable and good cause currency.

Giftcoin Token Details

ICO details

  • Pre-sale is now open
  • Sale starts on : March 20, 2018, 9:30 EST.
  • Soft cap : 25,000,000 tokens.
  • Hard cap : 100,000,000 tokens.
  • Total supply : 1,000,000,000 tokens.
  • Accepted currency : Ethereum, Bitcoin.
  • Minimum purchase : 0.25 ETH.
  • Sale price : 1ETH= 10000 GIFT.

Bonus and discount scheme

  • Pre-sale (ongoing) : 50%.
  • First 24 hours : 25%.
  • First week : 15%.
  • Second week : 5%.
  • Advanced whitelisting for the public sale: 10% (bonus)

Token allocation

  1. Token Offering 1 : 10%.
  2. Token Offering 2 : 35%.
  3. Foundation reserves : 25%.
  4. Founders and team : 15%.
  5. Undefined : 15%.
  6. Undefined tokens will be reserved for distribution for academic research, community initiatives, market expansion, development, business, and education.

Giftcoin Token Sale

Use of proceeds

  • Tech development : 47%.
  • Overheads : 5%.
  • PR, marketing and sales : 29%.
  • Legal and accounting : 12%.
  • Admin : 7%.

The team behind Giftcoin

The company is supported by a highly talented team of veterans that includes entrepreneurs, designers, blockchain enthusiasts, and engineers. All the members are fully committed to delivering the project and are passionate about making a huge difference in the world.

Alex Howard, Founder: He is a serial entrepreneur and established The Optimum Health Clinic in 2004. Alex is also a good writer and has written several books as well as published academic papers in journals such as Psychology and British Medical Journal. With his talent and intelligence, he has won many awards and was recently recognized by the UK Parliamentary Review.

Summary

Giftcoin has engaged in a project to promote donations and charity by making it a more transparent, easier process. The company will design a system based on blockchain technology to make donating a simple process with no fees or a low commission base. The Giftcoin round-up app will automatically round off the small amount of money to the nearest dollar figure and change it into a Giftcoin, which users will store in their wallet and use for a noble cause in a completely transparent manner.

If you are interested in charity then investing in this project may be a good option for you. There are very few companies who are involved in charity so it is a good chance to invest in a project that helps people in need.

The company has launched its pre-sale in which you can participate. But, for this, you need to self-certify as a refined investor and also need to pass the KYC (Know your customer) and Anti Money Laundering (AML) checks. If you fail to pass these criteria, then you will not able to participate.

To get more information on how to invest in ICOs, just visit our page.

Team

  • Alex Howard
    Alex Howard
    Alex Howard
    (Charity Founder & Visionary) - In 2004 Alex founded The Optimum Health Clinic, one of the world leading integrative medicine clinics with patients in 40 countries, and now run as a UK charity.
  • Tim Bichara
    Tim Bichara
    Tim Bichara
    (Product Specialist) -
    Tim is an entrepreneur and CPO. He was the co-founder of fintech start up Q App (Acquired by Yoyo wallet in 2016), as well as product consultancy Nimble Mobile.
  • Jon Beddoes
    Jon Beddoes
    Jon Beddoes
    (Enterpreneur & Investor) -
    Jonathan embarked on his entrepreneurial career at age 15 when he started a web hosting company. Since then he has founded several successful businesses including a leading software monetisation platform and Techtopia, a creative campus and tech incubator.
  • Chris Cain
    Chris Cain
    Chris Cain
    (Thought Leader & Crypto Enthusiast) -
    Christopher is a systems analyst, IT consultant, and entrepreneur. Since 2004, he has been a specialist in the design and implementation of decentralized peer-to-peer networks and technology.
  • Ben Evans
    Ben Evans
    Ben Evans
    Technologist and Blockchain Enthusiast
    Ben was previously at Morgan Stanley, where he was chief performance engineer for the Google IPO in 2004. Subsequently he was the lead architect at Deutsche Bank (listed derivatives) before becoming the co-founder and CEO at JClarity.

Milestones

  • 1
    03.2018
    First Token Event
    We are 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 EDT. We hope you can join us!
  • 2
    07.2018
    MVP Release
    Our MVP will meet all the core requirements for the platform to exercise its purpose. We hope to have the first batch of charity organisations to choose from and a fully operational currency.
  • 3
    09.2018
    Beta Version Release
    We plan to start the second Giftcoin token sale, with a fully functional product.
  • 4
    10.2018
    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!

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