If there is a sector that is bound to benefit from blockchain technology, it is the non-profit sector. Blockchain is all about transparency, and with reports showing fraud and mismanagement to be the key challenges facing the industry, there is no better place for the technology to apply than in this sector.
According to a paper by the Charities Aid Foundation, blockchain technology will eventually take over the roles played by the traditional non-profits regulators. With the technology in place, high levels of efficiency and transparency are likely to be achieved prompting more funds to flow in the industry.
Initial Coin Offerings, the blockchain way of fundraising has already found its way in the non-profit sector and as we usher in 2018, more and more non-profits are likely to turn to this form of financing. Here are the top 7 ICOs for non-profits we believe will be the best performers this year.
WishCoin is a charitable altcoin built on the Ethereum network and run by the non-profit, WishCoin Foundation.
The altcoin provides an innovative and highly transparent way of raising funds for charitable organizations while also creating an opportunity for investors to make money.
The WishCoin model is such that 50% of the total-coin cap for the currency is held in the WishCoin Foundation fund and pledged to charities. Any charity that is lucky to receive a pledge will find it in their interest to adopt and promote the coin given that the higher the adoption rate, the higher its value will go.
The token sale for this altcoin will be opening on 20th February 2018 and is scheduled to close on 20th March 2018.
GivaCoin is a crowdfunding platform that accepts donations in cryptocurrencies and has a reward system for donors.
The project aims to offer its tokens to donors who contribute through their platform.
The tokens can be used for future donations or can be redeemed to various gift products on the GivaCoin product page.
The Givacoin token sale opened on the 26th of December 2017 and is scheduled to end on the 24th of February 2018.
GiftCoin is the world’s first charitable cryptocurrency for charitable giving and good causes.
The platform utilizes the smart contracts technology to track the direct impact of donations on projects.
GiftCoin benefits both the donors and charitable organizations in that the former can track how their contributions are being used and the former can use the platform to prove their efficiency while eliciting further support.
Giftcoin’s token sale starts March 20th, 2018. Pre-sale is now open.
ALMBank is an Ethereum-based platform with a goal of creating new forms of employment and charitable culture within the crypto-community.
The project aim is to break the mold between non-profit and profit to create a business that rewards people to create a self-funding charitable economy.
The ICO is scheduled to start on the 27th of February 2018.
CharitySpace is another Ethereum-based fundraising platform that allows donations in cryptocurrencies.
The platform follows a mechanism where donors are encouraged to participate in fundraising through prizes.
Donors participating in fundraising through the platform have a chance of winning intangible awards such as ETH and BTC pools or material objects such as electronics, motorcycles, and cars.
The token sale for this project will start on April 16th, 2018.
World Peace Coin is a cryptocurrency that aims to end world poverty by bringing financial inclusivity in the developing world.
The project uses an AI system known as TSUMUGI to calculate the credit score of poor people in the developing countries and then uses its Proof of Lending system to finance those who qualify.
The WPC token sale is scheduled to start on the 25th of March 2018 and end in a day that will be communicated later.
LyticTail is a non-profit software company that creates tax breaks for businesses and discounts for customers while giving 90% of all its revenues to charity.
LycticTail token sale opened on the 1st of January 2018 and will be closing on the 1st of March 2018.