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#FinTech, #Impact Investments All projects

Giftcoin: Cryptocurrency for charitable giving

Giftcoin is a groundbreaking new system designed to revolutionise charitable giving

stage Ended crowdsale

4.2 Rating

by 10 users


    KPLs

    • Employees5

    Team

    5
    man Alex Howard

    Charity Founder & Visionary

    In 2004 Alex founded The Optimum Health Clinic, one of the world leading integrative medicine clinics with patients in 40 countries, and now run as a UK charity. More recently he founded online self development platform Conscious Life. He has been recognised by the Parliamentary Review.

    man Tim Bichara

    Product & Charity Evangelist

    Tim is an entrepreneur and CPO. He was the co-founder of fintech start up Q App (Acquired by Yoyo wallet in 2016), as well as product consultancy Nimble Mobile. His awards include Times 2015 top 10 disrupters to watch, Startups 100 two years running and two interactive BAFTAs.

    man Jon Beddoes

    Enterpreneur & Investor

    Jonathan embarked on his entrepreneurial career at age 15 when he started a web hosting company. Since then he has founded several successful businesses including a leading software monetisation platform and Techtopia, a creative campus and tech incubator. In 2014, he co-founded Safer Technologies (a security software company) which was acquired by Avast Software in March 2017.

    man Chris Cain

    Thought Leader & Crypto Enthusiast

    Christopher is a systems analyst, IT consultant, and entrepreneur. Since 2004, he has been a specialist in the design and implementation of decentralized peer-to-peer networks and technology. He consults on projects involving peer-to-peer blockchain platforms in the cryptocurrency and digital asset space.

    man Ben Evans

    Technologist and Blockchain Enthusiast

    Ben was previously at Morgan Stanley, where he was chief performance engineer for the Google IPO in 2004. Subsequently he was the lead architect at Deutsche Bank (listed derivatives) before becoming the co-founder and CEO at JClarity. A blockchain enthusiast for many years, Ben is heavily involved in the Java community and has writen several books on Java Development. Ben also has a MA in Maths from Cambridge University.


    Investors

    4
    man Kristopher B. Jones

    Entrepreneur and Investor

    Founder of Pepperjam (sold to eBay in 2009), founder of angel fund KBJ Capital, best-selling author, and featured on Planet of the Apps.

    man Simon Squibb

    Entrepreneur and Investor

    Entrepreneur and angel investor with over 20 years experience. Built one of the top 5 creatives x data agencies in Asia called Fluid which he sold in 2016 to PwC. Founder & Chairman of Nest.

    man Mark Hirschfield

    Entrepreneur and Investor

    Founded & invested numerous start ups including Copypress, Faceit, Auction Club, Conscious Life, Techtopia and Lifecake (acquired by Canon).

    man PSG Capital

    Established in July 2016, PSG Capital is an investment firm based in London and New York, operating investment management and advisory services across public markets and principal finance. PSG is led by Paul Salama-Caro and Simon Goodman and now has 15 employees across its two offices, backed by a small number of large family offices based in the
    UK, USA and Switzerland, as well as its Partners. PSG Capital has extensive experience in the crypto currency and blockchain arena, both in advisory and principle investment arenas and has worked on multiple successful ICO’s to date


    Advisors

    6
    man Jon Duschinsky

    World renowned charity advisor (including ALS for Ice Bucket Challenge)

    Jon shares speaking platforms with leaders such as Mikhail Gorbachev, Kofi Annan & Steve Wozniak.

    man Lady Astor of Hever

    Author and charity activist

    Lady Astor has done extensive charity work, raising funds for Parkinsons UK and The National Autistic Society

    man Shirley Conran OBE

    Author and charity activist

    Previously the women’s editor of the Daily Mail, Shirely has been heavily involved in charities for the last 30 years.

    man Marc Avedissian

    Blockchain entrepreneur

    Previously a quant at Deutsche Bank, Marc was a co-founder of blockchain start up Tramonex and more recently founded fiat token Altalix where he tested payments to charities via smart contracts under the supervision of the FCA.

    man Eitan Jankelewitz

    Partner Sheridans

    Eitan is an intellectual property lawyer specialising in digital media and interactive entertainment, with a particular focus on performance marketing and bitcoin. He recently advised on the $30M Funfair ICO.





    Crowdsale details

    Distribution of tokens
    • Founders and team (15%)
    • Undefined (15%)
    • Token Offering 1 (10%)
    • Token Offering 2 (35%)
    • Giftcoin Foundation reserves (25%)
    Budget allocation
    • Tech development (47%)
    • Overheads (5%)
    • PR, marketing and sales (29%)
    • Legal and accounting (12%)
    • Admin (7%)
    Details Indicators
    Token Symbol GIFT
    Full Token Name GIFT token
    Crowdsale Start March 20th, 00:00 GMT+03:00
    Crowdsale End Hard cap is reached or May 4th, 00:00 GMT+03:00
    Crowdsale Hard Cap Fixed, $10000000
    Crowdsale Soft Cap Yes, $2500000
    Domain registration date 2016-01-28
    Domain owner Gift Coin Ltd, Unit 150, 33 Parkway, Camden, London, UNITED KINGDOM

    Cost of the token

    6700 tokens for 1 eth

    Price without discounts

    Discounts and Bonuses

    Crowdsale
    Discount Dates Minimum purchase amount
    25% March 20 — 21, 2018
    15% March 21 — 28, 2018
    5% March 28 — April 04, 2018

    Accepted currency

    • Bitcoin
    • Ethereum


    Rate the project

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    Relevance of the problem and Market size

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    1 2 3 4 5

    Founders, Team & Advisors

    1 2 3 4 5

    Budget allocation and roadmap

    1 2 3 4 5

    Token economy, Tokenization & Business model

    1 2 3 4 5

    Distribution & Lock up of tokens, Discounts for early buyers

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    Summary rate the project

    1 2 3 4 5

    Rate the project by other users

    10
    Lisa Dominguez April 03, 2018
    Rating of project
    4.3

    Advantages

    Risks and disadvantages

    Comments

    Natsumi Iwata April 03, 2018
    Rating of project
    4.7

    Advantages

    Risks and disadvantages

    Comments

    Phil Zander April 02, 2018
    Rating of project
    4.2

    Advantages

    Risks and disadvantages

    Comments

    Xiuli Wang April 02, 2018
    Rating of project
    4.5

    Advantages

    Risks and disadvantages

    Comments

    Jordan Semanda March 24, 2018
    Rating of project
    4.7

    Advantages

    Gift coin is aimed at making the world a better place which is very good because most time fundraising is done by organisations and then its misused by the corrupt officials.
    In this project i see the future of funding and its intended benefit now that this cryptocurrency is being established.
    This will also encourage many people to jump onto the trail of Giftcoin cryptocurrency

    Risks and disadvantages

    The Giftcoin project bridges the gap and eliminates middle men who are NGO's but the recipients in this case refugees, might not have managerial skills to handle money given to them and no much follow up is made to see that the money is used for what its intended for.

    Comments

    This project is definitely going to change the lives of many people especially those who are faced with natural calamities or political instabilities, its the revolution of charitable giving i cant agree any less.

    James Young March 22, 2018
    Rating of project
    5.0

    Advantages

    Charity revolution which brings the process itself to the next-gen technology. Considering the transparency capabilities of the blockchain that helps to reveal a lot of things which are inherent to charity process. I see a big potential of this project and based on the Team experience and diversity this should definitely happen.

    Risks and disadvantages

    I couldn't find any information regarding scalability in the case if the transactions volume is growing drastically, that might be the case of disaster sometimes. Separately, I would expect at least a working prototype considering the timing specified in the roadmap.

    Comments

    Genuine donation process, I wish that could happen 10 years ago. I trust this will work as it has serious investments in the tech side along with the skilled team and involved advisors.

    Veronika Arbisman March 22, 2018
    Rating of project
    3.0

    Advantages

    Really few advantages, such as noble goals in the basement of the project and transparency and confidence about where the money go.

    Risks and disadvantages

    I really have no idea why for God sake anyone will have an idea to invest into blockchain donation project. What return on investment they suppose to see? On top of that with all variability of already existing charity fond what new exclusive idea has this one?

    Comments

    Experienced team and advisers - that is probably all. Whole idea sounds to me fairy and Utopian.

    Ladislava Chernik March 22, 2018
    Rating of project
    3.7

    Advantages

    Promises complete transparency and accountability across the donation process.
    Pretty fits values of the blockchain community in common.

    Risks and disadvantages

    Competition in the market.
    It is unclear for me what kind of revolution they bring to charity. I haven't ever met any charity project that would not promise COMPLETE transparency and honesty.

    Comments

    Noble business, but seems to be not so profitable in the future - after the token release.
    The team looks ably and reliable

    Denys Serhiichuk March 21, 2018
    Rating of project
    2.8

    Advantages

    Thanks to Giftcoin, people, who recently have not been able to give for charity due to economical circumstances, now have this opportunity. The following project gives people suhc chance, as with cryptocurrencies and power of Blockchain donation will become much easier.

    Risks and disadvantages

    Giftcoin has no vivid advantages over other coins or tokens. Donation can be made through ober cryptocurrencies as well.

    Comments

    I think the project can have future, as its team seems experienced one and has advisors. But they need to do more practical work, as there is no working platform so far or even demo version.

    Antony Smith March 20, 2018
    Rating of project
    5.0

    Advantages

    The goals of the project look pretty noble. There are no doubts that in this particular project blockchain technology will provide absolute security. The main concept really sounds like a revolution in the charitable giving.

    Risks and disadvantages

    I don’t see drawbacks in this ICO.

    Comments

    Such projects may greatly improve the charity. It will make it safer and also it will stimulate the charitable giving all over the world.

    See more reviews

    FAQ

    FAQs

    How does Maria in Uganda buy Shillings from her giftcoin to pay the local shilling only vendor of spades and buckets?

    The local funds distribution problem is something that successful charities and microfinance projects are already doing. So in the first instance, actually handing out cash to the people who will need it is done by a local bank agent. The bank agent disburses cash to Maria, and debits her Giftcoin balance, which is immediately visible to the people who sponsored her. Additional (ideally cryptographically signed) evidence can be captured at the point when Maria gets her shillings. Over time, we would expect that direct Giftcoin usage would become possible as usage grows, but Giftcoin will initially be used to provide transparency to donors, and to provide a ledger that bank and other officials can't tamper with. We'll also be selecting our initial partner charities based partly on evidence that endpoint fraud is not a serious problem for their projects, or that they have good compensating controls. One of the areas of research we need money for is to try some different solutions for the "last mile" of funds delivery, but success of that will depend upon network growth and adoption. In the meantime, we'll use traditional controls and best practice whilst we carry out research and product development.

    What about transparency in your project?

    We believe we are running one of the most transparent token sale's to date by nature of the fact we are documenting and sharing our journey.

    What's the total supply of tokens and at what price?

    The details are on the website visit https://www.giftcoin.org#token-event

    In Case study 1 do you send the 'donation' to Saloni's family or directly to the school?

    Every indicator shows that encouraging girls education helps a number of different goals - better educted girls marry later, have reduced infant mortality and better health outcomes, are more likely to found businesses outside the home, etc. So we believe verifying Saloni receiving her education is the primary goal and has known secondary positive effects. Being able to ensure that the donation is not spent on alcohol, tobacco, etc is harder to do for several reasons: 1. The main aim of many charitable projects is to reduce dependency. Part of that is trusting people to make their own decisions rather than trying to direct them too much. 2. From a technical perspective, it will take time to build enough of a network effect for retailers to even accept Giftcoin as payment. 3. Donating restricted-use tokens may well be less effective than unrestricted cash, as the recipients may not want them or value them as highly as cash. This can result in a secondary market for the restricted-use tokens, where they trade for cash at a discount, or other negative effects. This effect has been known and documented since at least the 1930s (it features in Orwell's "The Road To Wigan Pier" among other places).

    What about stability of the price?

    On the subject of stability, we believe that the use of a coin and ledger technology that does not use public mining allows for approaches that can greatly help to stabilise the coin and reduce volatility in the price. Part of the money raised will be used to implement the research ideas we have in this space and to verify that they work at scale before MVP.

    Who is the first token sale for?

    To participate in Token Offering 1 you need to self-certify as a sophisticated investor as well as pass KYC (Know Your Customer) and Anti Money Laundering (AML) checks. If you do not meet these criteria you will be unable to participate at this time. For investments greater than $10k additional checks may be carried out.

    How do I get involved with the Presale?

    If you're a sophisticated investor or high networth individual and you're interested in taking part in the pre sale (which has a minimum investment of $10,000) then email [email protected]

    You say traditional giving platforms are expensive, how so?

    Traditional fiat-using giving platforms have high fees (3% rising to 5% in some cases once hidden costs are accounted for).

    What makes the blockchain a more efficient method?

    Cryptocurrency platforms are supposed to have lower fees, but they have risen noticeably recently. The Giftcoin approach is to use a shared distributed ledger, rather than a public mining network. This avoids the inefficiencies of public networks like Bitcoin and Ethereum but still provides the possibility of a shared network and the benefits of distributed ledgers. In the early days (MVP and just after) we expect that Giftcoin will operate the whole network, and pay for the infrastructure costs ourselves. After that, we will seek partners from the charity sector, or foundations to share the costs and to operate the network with us.

    Who will be responsible for setting up the smart contract? Each project will be unique to it's own milestones, how does that work? How is record of purchase/key milestones validated?

    Smart contracts will be written by the charities themselves. We have specifically chosen a technology stack (R3 Corda) which should be easier to write smart contracts for than the public Ethereum networks. The problem of verifying external goals and milestones is a known issue, sometimes called the "oracle problem" (although note that the term oracle here is used in the complexity theory / computability sense - and has nothing to do with Oracle corporation). There are standard techniques for handling it - but none of the technology used here is a magic bullet. None of the cryptographic techniques that are in use will work outside of the network - and we need some way to verify external events.

    It therefore seems likely that some sort of differentiated network topology may be required nodes on the Giftcoin network that are close to the edge may have limited bandwidth but be physically close to transactions occurring in recipient locations. - Can

    We want to use Giftcoin in places in the developing world that have bad network coverage. One of the things we'll be researching is ways to extend Corda to have node types that are specialised for working in low / no bandwidth environments and only communicate intermittently with the rest of the network. This will very likely be some of the novel technology that we'll need to roll out.

    As the Giftcoin network .....does not require the trustless features present in public blockchains - why does it not require this feature?

    We know who every participant in the network is, and we don't allow unknown parties to join the network.

    Giftcoin round up will be a key way to get people automatically accumulating the currency. Does this mean you'll have a record of all of my spending habits? What will you do with this data? How secure is it?

    We don't record all your transactions but we do interface with your bank account. Your data will be held within in the EU and EU and UK law will apply to it. This includes the UK's Data Protection Act and forthcoming EU General Data Protection Regulation (GDPR) regulations. We take your data security extremely seriously, and our team has a strong background in financial systems and computer security. We are applying all relevant best practices to the protection of your data including regular security testing by independent industry experts.


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