All this takes place in a framework that includes electronic commerce, rewards and charitable programs, which have a combined value of $ 3.5 billion! And, although the volume of donations is estimated at $ 750 billion worldwide, the market for cryptocurrencies is valued between $ 300 and $ 900 billion, and the volume of electronic commerce from companies to consumers has reached $ 2.3 billion. By achieving synergy between these three markets, the project can change the paradigm of charity.
The technology that is used in the charity industry is of a relatively low level, so there are those who, when they go to donate, change their minds for:
- Doubts about whether the money will arrive completely and on time, as well as having distrust for the lack of international organizations that evaluate them.
- The complexity of cross border payments for foreign projects and possible problems when dealing with regulatory agencies.
- Inability to distinguish additional benefits when donating.
Although it is widely recognized that the transparency of the charitable industry needs to be changed, there are few blockchains in this sector, some are: cherr.io, aidcoin, clearaid, bcharity. However, these blockchains do not operate beyond the charitable industry. There are also blockchains dedicated to loyalty programs, but they all have problems regarding their cold start and start with a user base not large enough to cooperate quickly and productively with large e-commerce companies.
Unlike other projects, Humancoin does not force the use of its token to carry out charitable transactions. As the projects will need to obtain funds in a currency that is practical to them, a project based on the Humancoin platform will specify the currency or cryptocurrency with which to carry out transactions. The donor can transfer the money in the desired currency to the recipient using the currency conversion tool on the platform.
The priority of the project is the integration and compatibility with well-established technologies in the market, so it is not planned to spend funds to create adaptations or existing technologies. An example is the purse, since instead of creating one from scratch, an existing one will be incorporated into the platform.
The rate of 5% in the funds raised is to cover the support and development of the platform. And, compared to the current charitable foundations, it is very small, since they can reach 20-30%.
Humancoin is not in direct competition with other loyalty programs, but intends to collaborate with them and act as an aggregator among a collection of reward programs. Humancoin tokens (HUMA) can easily be converted into points, miles, bonuses, coupons and other types of tokens. They will also be easily integrated into existing businesses, seeking to facilitate the user the process. The only thing companies will have to do is establish conversion rates. In addition, as the number of collaborations with partners increases, so will the popularity of the token.
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More infomations
Website: https://www.humancoin.net/
Whitepaper: http://docs.humancoin.net/HumanCoin_whitepaper_en.pdf
ANN: https://bitcointalk.org/index.php?topic=4469466
Facebook: https://www.facebook.com/Human-Coin-1049107488575656
Twitter: https://twitter.com/humancoinnet
Telegram: https://t.me/HumancoinChat
Author: Hoangbinmcc
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1330327
