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AID CHAIN
AID CHAIN is a platform developed by CharityStars for non-profit organizations. Here, the technology of the Ethereum blockchain is being introduced, which is aimed at charitable needs. The problem of charity exists because people do not believe that their investments will reach the consumer, and not settle in the pockets of intermediaries.
Contents
Description
The platform allows users to track transactions and control the expenditure of donations. Charities can raise more funds, and with transparency, trust will grow and strengthen the non-profit sector. Tracking of transaction flows with tokens AidCoin – the development of the company, which has simple technology and available to users without deep technical knowledge. The platform is also used by fund staff to register, verify personal data and store donor contacts.
Token
AidCoin is a token on the standard ERC-20, which will be used in the non-profit ecosystem for the transfer of services and their fees. The platform connects all users of the non-profit organization and tracks the movement of all funds. The system is designed so that it is profitable to buy and store tokens.
Technology
AidChain technology helps to track the flow of donations through integration with the banks API. AidPay for the user is just a button for exchange and payments. The user navigates through it converts the crypto currency into tokens AID using the integration with the exchanges via the API. Widgets for users are placed on their websites, where they will accept donations in any cryptocurrency that supports the standard ERC-20. All funds are stored in one wallet, which makes it easy to distribute, manage donations and receive tax deductions.
Team
CharityStars is a charity company with a unique organization of work. With a total of 25 people, they raised more than $10 million and supported 500 charities. The founder of the company, Francesco Nazari, began his career as an entrepreneur at the age of 20 with a humorous blog for students. Manuela Ravalli, a like-minded co-founder of the company was included in the top ten successful women entrepreneurs in Italy at the age of 35. Now the community consists of more than 40 thousand donors, 100 brands and 200 celebrities. The amount of donations for 2017 amounted to 15 million USD.
Development
The total cost of AID in January 2018 was only 8 million USD, which is not so much for the cryptocurrency market. According to experts, it is reasonable to invest only with a long-term perspective. It is possible to buy AID on Bitfinex and Ethfinex, and exchange tokens only to BTC, ETH, USDT. The obvious advantage of CharityStars is the aidpay gateway that accepts fiat and other cryptocurrencies. For users, getting a tax deduction within the system also gives a tangible plus.
Risks
- The problem of volatility of AidCoin, it will take some time to place on the exchanges, during this time the price of the token may fall.
- Marketing line is not built. On Twitter under the announcement of the auction they get a few likes, despite the fact that they have 17,000 subscribers, the popularity is low.
- The road map is brief and uninformative, has a low score.
- Missing AidChain integration technology.
Prospects
Thanks to the platform AidChain there is a market for online donations, which amounts to $15 million in the USA. Charitable communities receive an effective platform for increasing donations, celebrities and brands increase their publicity, bidders acquire unique collections. The advantages are obvious: transparency, traceability, reduction of overhead costs, obtaining a tax deduction. It is also available for mobile devices. Not without its drawbacks, of course, the growth of the online donations market is still very weak, and AidCoin itself is not particularly popular with speculators, marketing is poorly developed, blockchain technology is absent and most likely the team will have to attract developers from the outside. But, of course, a close-knit team has all the advantages compared to other projects in this area. By the beginning of Q1 2019, the final product with additional services and new features is expected. The AidCoin token has the right to live, as it solves the problem of tracking donations and fraud is excluded. If the charity sector becomes more active, the price of the token will increase significantly.
