HumanCoin ICO Review
Charities around the world have begun to open their eyes to the possibilities offered by cryptocurrency. In the cryptocurrency community there is an untapped resource of donors that charities could have access to if they have a method of accepting donations in cryptocurrency. Like most businesses, the majority of charities are not in this position. It could be argued that it is even more difficult for charities to adopt a new method of payment, as they have fewer resources to work with than big businesses have.
Cryptocurrency donations have so far only been possible for Save The Children, Red Cross, United Way, and other major charities with substantial funds and infrastructure. With this in mind, it was only a question of time before some clever cookies came up with another way for charities to accept donations from cryptocurrency holders. This is where HumanCoin enters the picture.
What is HumanCoin?
More than just a way for cryptocurrency holders to donate their tokens to charitable causes, HumanCoin brings together donors, charities, and e-commerce platforms. By using the HumanCoin platform, donors can send money to charities around the world, keep an eye on their transactions, and look at reports from the charity to see what the money has been used for. With blockchain technology, HumanCoin has made charitable donations a much more transparent and secure experience for donors and charities alike. On top of this, the HumanCoin team has also successfully incorporated the aggregation of e-commerce loyalty programs into their platform, further enhancing the utility of their tokens.
How does HumanCoin work?
Interested donors quite simply sign up to use the HumanCoin platform, where they will be able to view all the charities that are signed up. Once the donors have picked a charity of their choice, they select the amount of HUMA tokens (the native currency on the platform) they would like to send to the charity. HumanCoin will be using Ethereum’s smart contract technology to ensure that the charities are using the funds being sent to them for the intended purpose. The if/then concept of smart contracts will ensure that donors can rest easy knowing that their money will not be spent on anything other than the charity’s goal. Donors will also be able to take advantage of a number of loyalty programs tied to the many e-commerce organisations HumanCoin has partnered with.
What are the key features of HumanCoin?
The platform eliminates the costly and time-consuming process of donating to charities through a chain of intermediaries. Rather, the donors will be in direct contact with the charities they have chosen to donate to. HumanCoin is also the first blockchain project that has aggregated e-commerce loyalty programs.
What about the HumanCoin tokens?
The native currency on the HumanCoin platform is the HUMA token. These tokens can be traded for any other cryptocurrency token. This means that no matter what kind of token donors are holding, they can convert them into HUMA tokens and then donate to a charity. The tokens can also be converted to loyalty points, vouchers, and coupons, which can be used with the many e-commerce partners affiliated with HumanCoin.