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It is an open secret that an increasing number of companies in a wide range of industry sectors is looking into blockchain-based payment systems with a view to making the technology work for them, evaluating the potential benefits and pitfalls before making what could be far-reaching decisions regarding their future in a more decentralized world.
AidCoin is one project aiming to benefit from the changing payment landscape, and the charity-focused and Ethereum-based platform is now set to undergo technology integration with leading cryptocurrency payment solution UTRUST. The collaboration means that users will be able to use AIDChain to make secure instant donations in 23 cryptocurrencies to charities of their choice via the UTRUST interface. The announcement was made by UTRUST in Zug, Switzerland this week.
What is UTRUST?
UTRUST claims to be the first consumer-focused cryptocurrency payments system in the world, and it is gaining popularity with the blockchain community. The company aims to make its platform a secure and convenient global standard like PayPal. According to the team behind its development, UTRUST makes use of an innovative purchase protection system which is designed to develop trust between merchants and consumers.
During the last year, UTRUST has linked up with a range of blockchain technology platforms, such as DigiByte, Pundi X, Gambio, and UMT. The deal with AidCoin should further cement the company’s rise in terms of bringing cryptocurrency-based payments into mainstream use in financial services and e-commerce.
AidCoin is an ERC20-compatible utility token. The developers’ hope is that AidCoin will bring transparency to the nonprofit sector, with the system allowing users to track their charitable donations through the AIDChain platform, thereby easing fears and providing real feedback regarding what actually happens to the funds they donate.
AIDChain makes use of a simple, friendly interface to offer a full suite of services. These include an internal exchange for converting the main cryptocurrencies into AidCoin and a built-in cryptocurrency wallet for convenient storage and donation. In addition, AIDChain has the facility to transparently track donations, tools for connecting donors with major nonprofit sector players and smart contract templates for running fundraising campaigns.
According to the developers, a further key selling-point of AidCoin is that it gives charities the option of adding a cryptocurrency-enabled donation button, AIDPay, to their fundraising websites, with donor funds of any cryptocurrency type converted into AidCoin at the current rate.
AidCoin CEO and founder, Francesco Nazari Fusetti, had this to say about the partnership:
“We are very excited to enter this partnership and introduce an opportunity for crypto holders to donate crypto straight from their Utrust wallets seamlessly, or when making a payment – a well-established practice in conventional banking and payments solutions, and yet an unprecedented case in the crypto world.” Nuno Correia, the CEO of UTRUST also commented: “UTRUST is proud to support such an amazing cause. Transparency, accountability and giving back to the community are a pillar of our team’s purpose and culture as well.”
With perceptions about blockchain technology and its uses shifting – and with it, uptake increasing – it comes as no surprise to find those charitable organizations, in need of high-volume payment processing solutions and increasingly focused on trust and transparency, are interested in decentralized systems. If this interest continues to grow, AidCoin and its partner, UTRUST could stand to benefit substantially.