Idea & Token Functions
Charity is certainly a worthy cause. But the existing system lacks transparency needed to guarantee that funds raised in charity auctions actually reach the “promised” beneficiaries. AIDChain is a platform that allows tracking of AIDCoin and fiat currency (the latter requiring integration with bank API). The result is a system that is able to provide actual guarantees that the causes being sponsored receive the funds. Another interesting option is the integration of an AIDPay button on charity websites, allowing the websites to receive various types of fiat and crypto payments (based on AIDCoin’s exchange rates).
The AID ERC-20 token itself is supposed to become the sole method of payment on the system and a requirement in order to access various services on the platform. However, the platform is also planned to support purchase of AID using credit cards, PayPal, BTC or ETH.
The project is being developed by the online company CharityStars, active since around 2013. The company already has VC backing, however the overall charity funds it’s raised over the years doesn’t really blow minds. The team consists of 25 people, including two co-founders, CEO Francesco Nazari Fusetti and Manuela Ravalli. The CharityStars team has been working together for a few years and seems fairly experienced.
Despite an excellent and promising idea, it’s important to note that for the moment AIDCoin is a White Paper project with no other working elements available. Furthermore, even said White Paper doesn’t respond to one question – how is cryptocurrency’s volatility going to be countered? An auction can raise significant funds in AID tokens, but by the time the beneficiary gets to exchange them to fiat, said funds may decrease in value. Another troubling element is the relative lack of popularity or audience for CharityStars.
Even so, AIDCoin is following a worthy cause. It’s a noble and required enterprise. Furthermore, the promise of bringing transparency into the field of charity may well help activate investors, who have been willing to donate but did not do so due to lack of trust towards existing charity funds.
AidCoin ICO datesexport to calend
AidCoin is an ERC20 utility token that allows people to donate to charities while easily tracking their donations on a public ledger (AIDTrack). AidCoin also allows charities to integrate a donation button (AIDPay) on their website that enables the acceptance of crypto currencies for their fundraising campaigns. People can donate in any crypto currency or altcoins that will be converted into AidCoin at the current exchange rate. The online donation market is $15bn in the US alone. The rapid adoption of cryptocurrencies will definitely impact the way to donate in the future and AidCoin is set to play a leading role in this new era of fundraising.