AidCoin is a type of ERC20 token designed to be the preferred method of giving transparently through the Ethereum blockchain and access to the service ecosystem provided by the AIDChain platform. The use of cryptocurrencies will affect our future donation methods, and AidCoin tokens will also play a leading role in this new era of fundraising.

1. Project background

The AIDChain platform and AidCoin token were conceived and developed by CharityStars, a VC-backed charity fundraising company. Since its inception in 2013, a team of 25 professionals at CharityStars has worked with more than 500 charities, including UNICEF, Save the Children and WWF. CharityStars’ core capabilities are the ability to establish advanced partnerships between charities, celebrities and well-known businesses. CharityStars has established an ecosystem of charities, donors, celebrity donors and party events that are critical to promoting immediate use of tokens.

2. AIDChain

AIDChain is a platform that provides a service ecosystem through an easy-to-use interface, connecting nonprofit communities while enabling full transparency and traceability of donations. AIDChain's services include converting major cryptocurrencies into an internal exchange for AidCoin, built-in wallets that can easily store and donate, resource managers that can transparently track donations, tools that connect donors to all participants in the nonprofit sector, and smart templates for contracts to conduct donors.

3. Project application

Today’s nonprofit sector is estimated to be worth $2 trillion worldwide, but recent headlines have stolen the sector between corruption scandals, serious inefficiency, false spending and misuse of funds. Donor trust in charities has been declining. In a 2015 poll, more than 30% of respondents did not trust charities and nonprofits.

In view of the recent scandal, it is understandable that society’s skepticism about the nonprofit sector is growing. We use a distributed ledger to track transactions, transfer funds and smart contracts using cryptocurrencies to ensure the correct use of donations, and we are determined to make the nonprofit sector more transparent, efficient and cost-effective.

(The above information comes from AidCoin official website)

Related links:

https://www.aidcoin.com/faq