AidChain is a Swiss non-profit that uses cryptocurrency to support charities. Its platform allows charities to accept donations using their own cryptocurrencies while ensuring that donors can track their donations. It also allows users to easily donate to charities through a payment gateway called AidPay. To facilitate this process, AIDPay widgets are integrated into websites and are powered by the AID token.
The AIDCoin token is a fungible digital asset. It will be liquid and the AidCoin team is working to list it on major cryptocurrency exchanges. AidCoin’s roadmap indicates that the first beta release is already in production with the second one expected to follow in the autumn. Ultimately, the team plans to launch the final product in 2018.
To launch the platform, charities need to register on the platform and accept donations in cryptocurrencies. Then, donations will be converted into AidCoins, a digital currency that the charity will use to make purchases. The platform is also transparent and provides traceability. Donations made using AidPay can be tax-deductible.
AidChain will automate the process of purchasing aid supplies and can track the delivery of resources using drones. This will enable aid organizations to deliver supplies even if roads are blocked. AidCoin also has the potential to solve the ongoing trust crisis in the third sector. Its technology will help make donations more transparent.
With a 100 million token supply, the AidCoin platform is aimed at revolutionizing the humanitarian industry. The Ethereum blockchain technology is expected to help organizations make donations without the need for intermediaries. However, the AIDCoin tokens have not yet reached a meaningful value. In the future, they will gain meaning as they become more widely used. In the meantime, they will continue to provide the necessary tools to improve aid programs around the world.
In addition to enabling charity organizations to receive funds, AidChain also provides a digital ledger for donors to track donations and use smart contracts to ensure the transparency of the donation process. The platform also allows charities to make transparent reports on how the funds are used. With this new system, charity organizations will be able to report the spending of the donations made with this new cryptocurrency. Further, donors can also keep track of their donations thanks to a built-in wallet.
The AidCoin aims to become the preferred way to donate through the Ethereum blockchain. The platform also includes an ecosystem of services, including AIDPay. CharityStars, a well-established charity fundraising platform, is behind the development of the AIDChain platform. So, is it safe to say that AidCoin is ready to revolutionize the way we donate?
Another feature of AidCoin is that it allows charities to use smart contracts for specific projects. This eliminates the opportunity for charities to cheat and increases transparency. Its decentralized system also provides a monthly donation limit to charities. If a charity receives more donations than this limit, it will need to stake AID for a period of time.