Blockchain-Based Startup Creates New Opportunities for Charity

The Blockchain is creating new chances for a more transparent charity sector.

CharityStars is an online fundraising auction platform for the nonprofit sector that launched a series of auctions with prominent leaders in the Blockchain space.

The auctions which will be closed on Dec. 18, include meetings with Dr. Julian Hosp, co-founder and President of TenX, Ryan Taylor, CEO of Dash, Brock Pierce, chairman of the Bitcoin Foundation, Erik Voorhees, CEO of ShapeShift, and more.

“We believe that joining forces with such reputable leaders will not only draw deserved attention to the charities in need but also highlight the staggering benefits that this emerging technology can bring to the nonprofit sector.”

Francesco Nazari Fusetti, CEO of CharityStars

“As the use of cryptocurrencies and the adoption of Blockchain become more mainstream, the early adopters of this technology have a great deal of responsibility. At the forefront of this revolution the onus is on us to raise awareness, not only of what the technology can achieve but how we must work together as a community to achieve it.”

Erik Voorhees, CEO of ShapeShift

Proceeds from auctions

All proceeds from these auctions will be donated to the Blockchain Education Network (BEN), an international nonprofit organization dedicated to forming a network of students; the Bancor Foundation, which promotes the development and adoption of the Bancor protocol; the World Wide Fund for Nature (WWF) the world largest organization for nature conservation; Save the Children, an international non-governmental organization that promotes children’s rights; and Unsung, an online community in the US that seeks to solve hunger.

“While I always cherish the opportunity to speak at length about such a fascinating industry, the chance to sit down and do so for a good cause is both exciting and inspiring. The use cases of Blockchain are limitless but the charity sector has always been an area in which Blockchain application is particularly beneficial, and I am thrilled to be a part of it.”

Ryan Taylor, CEO of Dash

Payments in crypto

A few weeks ago, CharityStars announced the implementation of BTC and ETH payments on their website, in order to allow their users to bid with these two popular digital currencies, and an auction to meet Cristiano Ronaldo.

The auction winner paid $36,000 worth of Bitcoin to meet Ronaldo and proceeds were donated to the Forever Dream Foundation.

Aidcoin to launch an ICO

CharityStars plans to use the Blockchain to have a more transparent system to provide users a more straightforward process of the raised funds they receive.

Because of this, they created AidCoin - a project backed by CharityStars -  to implement Blockchain in the nonprofit world.

To fund this project CharityStars launched a pre-ICO through the Eidoo ICO Engine, raising 8,333 ETH.

AidCoin is an ERC20 token - based on the Ethereum Blockchain -  that will become a method of giving and paying service fees throughout the nonprofit ecosystem. The online donation market is $15 bln in the US alone.

Also, on Jan. 16, AidCoin will launch its ICO with a price of 1,000 AID = 1 ETH.