Tuyanto: Humancoin: The most robust blockchain-powered donation platform

Challenges and opportunities

Notwithstanding the exponential growth rate of digitalization, the charity industry--the most humanitarian sector to engage in--has far lagged behind the technological curve. Donations are still handled in the traditional way,giving rise to fraud and many other irregularities.

Humancoin, an idea conceptualized, anchored on the challenges besetting the charity market,seeks to disrupt the way donors/sponsors donate to charitable institutions worldwide by offering blockchain-based solutions.

Transparency

The most important challenge hampering the growth of the charity industry is the lack of fully - genuine charitable institutions. Mostly, in the third world countries, finding a not-for-profit organization that is one-hundred percent committed to the cause is next-to impossible, due to prevalent curruption. Often times,these establishments take advantage of the fact that charitable causes hugely attract governments and privates agencies’ interest as they are more liable to recieve funding, and hide under the veil of it, in a bid to obtain money from unsuspecting sponsors.This system of obscurity presents a cumbersome task for intending donors to sieve through the so-called organisations and find a genuine one. Occasionally,donors give up after painstaking search.

In cognizant of these burdensome tasks undergone by prospective philanthropists, Humancoin launches a platform that will list genuine non-profit-making organisations and their charitable projects. It will bring together all the verifiable charitable institutions and intending donors scattered all over the world under one roof. This is revolutionary, as organisations can list thier aspiring projects on the platform where prospective sponsors can easily access reliable information about their programs and fund them. Inevitably,fraud will be drastically reduced, as money-grabbing establishments with false intentions will give way to genuine ones .In addition, the platform will provide accurate real-time information on the location of the organization seeking for fund,the amount of the donation,how it is being utilised and its societal impacts.
By leveraging on the blockchain’s immutable distributed public ledger to monitor donations and its intended purpose, a significant level of transparency is restored into the whole ecosystem.

Bypassing Geographical limit

A smooth contributing ecosystem devoid of physical border has eluded the charity industry for years.This has massively impacted on the amount of donations in developing nations as significant amount of funds emanate from outside the shores of these countries.In addition,many countries are placed under cross-border financial transactions limits, hindering the smooth flow of inter-boundary donations. Sponsors,most times are reluctant to commit to multinational charitable causes for fear of attracting regulatory investigations.

However, thanks to the Humancoin robust donation ecosystem, philanthropists and charitable instituitions,can now connect themselves on a single platform to donate and receive donors from any corner of the nations of the world without incuring huge financial costs,bypassing geographical challenges seamlessly.

Instant payment

Considering that a good number of charity organizations still operate in outdated payment systems,which sometimes, impede the smooth flow of donations,Humancoin envisions a world where people can easily fund charitable projects in any part of the world in a split second,by introducing an ethereum-based token—HUMA—which handles all forms of donations on the platform.This will ensure fast transaction time as the token is tailored to the ecosystem to streamline the flow of payments.
By ensuring high liquidity as the token will be tradable on public exchanges,the volume of intra/inter-border donations will increase. Organisations,irrespective of locations,will be encouraged to list their projects on the platform,thus increasing more charitable projects at the sponsors disposal.

The Team: Experience entrepreneurs committed to building the first online blockchain-based donation platform.