This Pandemic - THE NOVEL CORONAVIRUS, aka COVID-19, has affected almost all of us in one way or another. Almost 1.6 billion informal economy workers (representing the most vulnerable in the labour market), out of a worldwide total of two billion and a global workforce of 3.3 billion, have suffered massive damage to their capacity to earn a living. People need each other’s moral as well as financial support now more than ever before. A platform where people from all around the world can come seeking help and those who want to help can donate in the most transparent way is much needed.
What is the platform
A Decentralised and trustful fundraising platform would help to eliminate almost all of the issues of a traditional fundraising platform. As it would be built on top of Blockchain it will fulfill the trust among people and organizations. Also as digital currencies have been firmly established by various blockchains like Bitcoin, Ethereum, and Litecoin, it can use those cryptocurrencies across the border for raising funds. This digital fundraising can be transformed on a wider scale, by enabling charities to accept payments from anywhere in the world without the need to pay foreign exchange fees or consideration of currency exchange rates.
Characteristics of the platform
- Global and decentralized: As blockchain enables banking outside the traditional networks using cryptocurrencies, it will also allow the person to raise money outside of the usual pathways.
- Digital Agreements: Blockchain makes it easier to share and store digital data, and may also be used to ensure that important documents or contacts cannot be modified without the approval of all the involved members.
- Transparency: Other organizations where the donations are being used would also have a systematic log of the funds through the existing digital agreements.
- Reduced expenses: This technology would have the potential to simplify the way charities are managed, automating parts of the process, and reducing the overall costs by requiring fewer intermediaries.
- Other uses: This will also help to raise money for any particular cause/project i.e. venture capital
Accomplishments we are proud of
- A network where funders and beneficiary can contact each other directly
- Allow people to upload causes and community descriptions requesting financial aid and Donors can help specific causes with crypto.
- Decentralisation means greater transparency and no one has unfair power
- No middleman to charge fees
- Better sureness about fee payments through Smart Contracts
- Proposals cannot be changed midway
- Integrated payment system ensuring easier and faster payments
What's next for Fundraising Dapp
- The DApp can be integrated with other cryptocurrencies and ERCs token.
- Currently, the fund amount can be taken as donation from only one user as a whole, this can be improved by taking parts of funding from multiple users like traditional fundraiser platforms.
- RSK-RIF Ecosystem can help to validate the process ensuring that money is used for the published cause and is genuine. It could act as a governing body for the fundraising platform.
- A review/rating/feedback system can be integrated. which would help developers to improve the application to the highest extent possible.
This Pandemic – THE NOVEL CORONAVIRUS, aka COVID-19, has affected almost all of us in one way or another. Almost 1.6 billion informal economy workers (representing the most […]