Blockchain is the natural evolution of DLT. DLT were used to store information and organized them. Blockchain has created the consequentiality of data; for example, if ten people donate ten (10) dollars, the total plafond is one hundred (100)$ and from the sum of the transactions or the total amount gathered on a destined wallet this amount can be found.
But charity has been in the last decades an orange to squeeze. Orange juice was the money collected from the people. Orange peel the project. Charity foundations the squeezer.
Do you remember the last time you squeezed an orange or a lemon? A not insignificant part of the juice and pulp was stucked into the squeezer. What a waste!
I feel the same with other big charity organizations where young guys stop people at the supermarket asking for monthly donations. I once subscribed. After one year I unsubscribed. What I found was that less than 40% of the collected money was really made available to charity projects.
What a greedy orange squeezer!
Then it came the blockchain and the transparency was simply following.
I got really involved in a project from some years ago, it was called BCharity. I liked the background of the founders and that many advisors were from poor countries. They chose to use the Ethereum blockchain to trace all the donations since some years ago a French runner managed to collect 700.000$ for a charity foundation that would donate that money to projects in poor countries. None of those dollars never reached that project.
Guess where many of the team came from? They were French. They wanted a rematch against that fact.
Now that said, I did not mean to scary you. Charity is something good. The solution I found is giving charity directly to people acting on-site without intermediaries. But this may work for somehow small projects.
When it comes to a bigger scale, a bigger structure is required with a competent team and adequate resources. I found those characteristics in the Ethicoins Project.
The first time they spoke to me about this project I was sooooo sceptical about. Well, you read my idea about charity and intermediaries.
This time is different. The aim is not just a mere Charity. It’s the creation of an ecosystem that will automatically generate money for different projects.
Let’s start from the beginning.
The first call I had with the team was with Francesca. I must be honest. She could not thin out my scepticism. But we talked about charity, not an unbelievable project that was going to change the life of millions of people with a miraculous business plan. Just an ecosystem to generate charity.
Yes, I was still sceptical, but I preferred being a rational sceptic rather than an ignorant sceptic.
I then talked with Mauro, the CEO of the project that is based in Malta and we shared great ideas and values. By talking to him I understood that from the charity and sustainability point of view we were absolutely on the same wavelength.
Ethicoins with its token ECS TKN aims to create this utility token that will allow people to purchase services from the Ethicoins’ platform.
BSC uses the same protocols as ETH's blockchain so all dApps and smart-contracts are fully functional.
ECS tokens are created on this blockchain thanks to the possibility of using smart-contracts.
Despite being a centralized blockchain, the fees are very basic and the scalability is extraordinary.
So, why Ethicoins can bring a great value to people and to non-profit organizations?
Well, let’s have a look to their website.
The project aims really high with the creation of a dedicated television network, an Academy, an e-commerce with sustainable products and many more things to be announced.
So why a such structured ecosystem?
Because once the orange is well squeezed, we won’t see any more juice.
The television network will create an ethic sponsor advertisements that will create incomes. Besides, the television network will focus on educational contents on the environment, on ethic finance, on cryptocurrencies and new business models with also lessons about civic education.
The e-commerce will promote ethic products like 100% Made in Italy food, fair-trade products with particular care on the people working at the beginning of the supply chain since often they are exploited from employers.
The Academy will gather a huge amount of video-courses in 8 different languages to increase people proficiency in different important fields of normal life, business life, family life and so on. Ethicoins aims to create a full ecosystem to bring people to the next frontier of real human values.
In one of the next articles I will write more about the project, the team and I will go deep into the various aspects of the project.
Thanks @tipu
Stay tuned!
I saw your message in response to one of the DHF accounts. We don't allow intermediaries for any kind of donations because of various levels of scamming. Any charity that receives funds directly or indirectly has its financial statements checked over. For example, when we sponsored the Mazer Gaming charity e-gaming tournament in support of Zero Cancer. The charity itself has all of its financial reports on its site and those were checked by several people who know what those should look like under ideal conditions. The charity was already used to such scrutiny. Plus we knew the partner well and that they would actually honor the donation.
When it comes to other projects, its much of the same deal. We know how much what should cost and the projects are composed and executed by people from those countries. Now, I can only speak about the Pettycash and Valueplan accounts, not about the DHF in general. For example, building a brand new well for a community in Ghana was approximately $3k USD (or HBD). If you start looking it up on various 'Western' charity sites, that same well costs twice as much or more. Why? Because the charity takes most of the money. It's a huge business.
Thanks for your appreciation. I am doing my best to bring a lot of value here 😇 sharing the projects I am collaborating with