Humancoin is the new massive cryptocurrency currently making all the news in the ICO world.
With their PreICO sale currently running, CHIPIN had an opportunity to sit down with their CEO, Giles Gailer, and talk about Humancoin and how, despite the bearish market, Humancoin is an ICO worth your money.
Hi Giles. Please tell me about yourself?
Firstly, thank you for giving me this opportunity to talk to you, much appreciated.
I’m a former marathon runner (I’ve run 9!) and ran for various charities. It took a great deal of effort to both raise the funds and complete the marathon!
I’ve also been involved with business development and fundraising for over 20 years, launching a number of brands around the world in a variety of sectors.
One day I’ll run another marathon…
Humancoin is a massive new cryptocurrency, fuelled by a Proof of Charity mining protocol that combines the charity industry with retail e-commerce (which together have a combined value of $3,5 trillion) on a single P2P convenient platform.
And with the philanthropic association, Humancoin inspires a compassionate resonance, which by bringing in loyalty schemes further enhances the brand. It’s a brilliant concept: charity with e-commerce providing loyalty schemes.
So what problem are you are solving?
Good question. We know from our research, prior to the launch of the project, that technology isn’t really being used to its potential in the charity world and this has led to doubt from donors (both individuals and corporate) and this stop them from donating.
There are doubts over whether the contribution will reach the recipient in full and on time,
There is a lack of trust in charities, due to the absence of any official international organizations for evaluating their activities;
Complex cross-border payments for foreign projects, as well as potential issues in dealing with regulatory agencies;
And finally, no additional benefits when making a donation!
Editors Pick: Humancoin
Charity. I think about charity and this summer (2018) I think about floods and fires around the world and how charitable donations are instantly needed to support those affected by disasters. But it doesn’t have to be disasters, it could be that charitable donations are putting shoes on feet or
How are you solving that problem?
Blockchain technology and an associated P2P Internet platform will help solve the problems with the industry and provide a powerful impetus for its further development.
Donors can then monitor transactions to see that their funds are being spent exactly as intended;
Charities can demonstrate their integrity by providing information on how the funds are being used;
Quick payments (including cross-border transactions) are simplified and the problem of currency and cryptocurrency conversion is solved;
Automation of all processes can significantly reduce transaction costs.
The Humancoin platform offers a revolutionary solution for the charity industry. The consolidation of blockchain technology, the cryptocurrency market and e-commerce loyalty programs into a project will forever change the charity industry. Let’s look at each of the three industries.
Charity: The distributed ledger technology, which is designed to put an end to the middleman, gets rid of the long charity chain composed of banks, NGOs, state bodies and law firms. Blockchain provides a digital mechanism for recording and viewing any transaction. It is important that the record cannot be hacked or modified. Blockchain solves the trust issue by providing transparency, traceability and security.
Importantly, the new technology facilitates the development of direct financing platforms on a much larger scale. Philanthropists themselves can ultimately benefit from automated smart contracts as the recipients of grants will only be able to use their funds after meeting mandatory conditions.
The E-Commerce Market: Competition in the e-commerce segment puts pressure on players to develop new loyalty programs – not only to attract new customers but also to retain existing ones by offering a variety of discounts and benefits. The most pressing challenge for marketing professionals is to create an emotional attachment.
New loyalty programs are constantly appearing on the market, and while the overall idea behind them is sound, among the avalanche of new information that hits us daily, it is becoming more and more difficult to engage consumers at an emotional level. A survey conducted by Nielsen group, found that 50% of consumers, surveyed worldwide, would be willing to pay more for goods and services from socially responsible companies.
So, by integrating consumer loyalty programs with the charity industry we can create a strong emotional resonance. The future of online retail lies in being able to completely personalize each offer, and blockchain is one of the main stimuli for this further development.
What are the future goals of the project?
Well, the future expansion of the project will be financed by the 5%-fee raised from the funds collected for charity projects, which is 4 times lower than the market average for Charities (let’s not touch on the costs when transferring funds). We’ll build this internationally, with our centre in the UK, Brighton – right by the sea.
Humancoin’s association with philanthropy gives its tokens a unique advantage in developing loyalty programs with partners, in comparison to other conventional loyalty reward tokens.
Our blockchain platform fuelled by the Humancoin token will breathe new life into the philanthropy industry, providing an engine of growth while at the same time becoming a premier global loyalty program for an increasing number of partners.