What is Humancoin?
Humancoin.net (hereinafter Humancoin) is a breakthrough blockchain project, which unites philanthropists and recipients of funds on a single platform in the most convenient and transparent way possible. Donors (which comprise one in three of us globally) can quickly make donations worldwide, monitor their expenditure online and also receive discounts from the platform’s partners. Charitable projects are able to accept funds with minimal overheads and in the shortest time in any convenient currency.
Humancoin is a revolutionary platform that is changing the philanthropy industry for good, specifically created to work in synergy with the e-commerce and cryptocurrency markets, which together have a combined value of $3.5 trillion!
The current technology employed in the charity industry is at a relatively low level. It is common for individuals and companies that are ready to donate funds to change their mind due to:
❥ Doubts over whether the contribution will reach the recipient in full and on time, and a lack of trust in charities, due to the absence of any official international organizations for evaluating their activities;
❥ Thecomplexityofcross-borderpaymentsforforeignprojects,aswellas potential issues in dealing with regulatory agencies;
❥ Unable to discern any additional benefits when making a donation. Humancoin solves these problems through the integration of blockchain into three thriving sectors: charity, e-commerce and cryptocurrency.
While the annual volume of donations is estimated to be in the region of $750 billion worldwide, the capitalization of the cryptocurrency market is valued at $300 to $900 billion, and the volume of the B2C e-commerce sector has reached $2.3 trillion. By bringing about the synergy of these three markets, the project is set to herald a new era for charity.
A fixed number of Humancoin tokens will be made available at the Token Sale. These funds will be used to create the Humancoin P2P blockchain platform and the international network to support the project, launching a PR campaign and developing a partner network. At the end of the Token Sale the Humancoin token will be listed on cryptoexchanges.
After the Token Sale is completed, the Humancoin platform will accept applications and collect funds for charities on an ongoing basis. Donors can choose projects directly to benefit from their funds, or alternatively make donations through the Humanpool (a collection of projects selected automatically from those with the highest ratings from the community). The platform provides the opportunity to fully track donations online, as well as introduce voting and ranking for projects and philanthropists along with other features. There is also the option to receive a receipt for each donation to use for tax deduction purposes depending on the donor’s tax jurisdiction.
Afterwords, there will be additional token emissions, 100% tied to the actual volume of charitable donations. Proportional to their donations, benefactors receive back 50% of the value of their donation in tokens, according to the exchange-weighted price of the token (in other words, benefactors “buy” or “mine” tokens at the rate of 2x to the price listed on the exchange). This Proof of Charity concept allows the project scale by hundreds to thousands of times. Token holders can sell their tokens on a cryptoexchange or hold onto them to in order to take advantage of the attractive discounts from our growing network of partners.
This is the first ever blockchain project in the history of the e-commerce industry that has the potential to become a global loyalty program aggregator. Instead of competing with existing programs, the Humancoin platform actually builds partnerships with them. The Humancoin token is convertible into points, miles, bonuses, coupons, tokens and is effortlessly integrated into already existing systems, without forcing business owners to reconfigure them — all it requires is setting a conversion rate.
As the number of partners grows, which is one of the project’s main priorities, we anticipate a significant increase in the popularity of the token. In particular, there are plans to develop partnerships with cryptoexchanges allowing Humancoin token holders to receive discounts on exchange fees (similar to one of the leading cryptocurrencies — Binancecoin, the holders of which get a 50% discount on transactions commission at the Binance exchange). The same principle will apply to airlines, where the token will be used in the same way as Air miles.
The future expansion of the project will be financed by the 5%-fee raised from the funds collected for charity projects, which is 4 times lower than the market average. Humancoin’s association with philanthropy gives its tokens a unique advantage in developing loyalty programs with partners, in comparison to other conventional loyalty reward tokens.
The blockchain platform fuelled by the Humancoin token will breathe new life into the philanthropy industry, providing an engine of growth while at the same time becoming a premier global loyalty program for an increasing number of partners.