The following is a Work in Progress (WIP) and not meant to be taken literally. Trust is a Proof of Concept (PoC) that is intended to showcase the power of nOS, the Virtual Operating System for a new, transparent internet.
Again, this is not a real thing yet. So don't try to use it and donate to charity yet, or you will get wrecked.
Transparent, charitable donations on the NEO blockchain. Powered by nOS.
Trust is a decentralized platform for global charity. We ensure the safe, fast, trusted & free transfer of your donations to the network of our liaising charity foundations. Our dApp structure ensures transfer of value instantly, with non-existent fees, and to anywhere in the world.
Trust is free, we don’t charge anything for our platform. Whatever you donate, all goes to the charity of your choice.
Donating:
- Brings more meaning to your life
- Makes you feel good about yourself while helping others in need
- Promotes generosity in your kids when they see you donating for a noble cause
- Makes you realize that every little bit helps (you don’t need to donate huge sum)
- Gets you a tax deduction :)
Since blockchain is an open ledger, you can verify that, your donation, and all of the donations, were received by the charity of your choice. All our balance is public, So, when you make a donation, you will be able to instantly verify your donation is in the hands of who you intended. It also enables the Trust platform to work on its own without the need of a running expenditure of keeping huge database of all the donations made.
The non-profit sector today is worth an estimated $2 trillion worldwide, yet headlines in recent times have seen the sector stumble between corruption scandals, gross inefficiencies, false expenses and misuse of funds. The continuous decline in trust on the part of potential donors is justifiable: according to Essential Research 35% of US citizens have little or no trust in charitable institutions. Similarly, in the UK, figures are not promising, with trust in charities falling from 6.7 out of 10 in 2014 to 5.7 in 2015, with 33% of those polled explaining that the primary reason for their reduction in donations stemmed from the impact of recent scandals on charities’ reputations. Naturally, the consequences of donations decreasing are alarming.
Trust’s decentralized structure works with smart contracts on NEO blockchain. All the transfer of value is done using GAS (native fuel for NEO blockchain). Trust is free, we don’t charge anything for our platform. Whatever you donate, all goes to the charity of your choice. Trust’s leverage over the traditional payment system for donation are:
- Lower costs: Traditional payments, even for donations, passes through the middle bridges e.g. Credit cards, banks etc while Blockchain donations are executed directly, reaching the charity instantaneously and at a fraction of the cost.
- Efficiency & Transparency: The distributed ledger technology enables donors to track how their donated crypto is being used by charities. No record on the blockchain can ever be altered or erased, thereby providing traceable accountability showing the exact flow of any coin in the ecosystem.
- Tax Deduction: virtual currencies mostly are treated as noncash assets and, therefore, eligible to be treated as long-term capital gain property. For traditional donations over $5,000 USD, a qualified appraisal is required, blockchain donations are exempt as they are transparently and publicly traded.
Trust uses GAS for donation which is the native fuel of NEO-blockchain and is distributed freely to all NEO token holders in NEON wallet (some exchanges collect your GAS for you e.g. Kucoin). You can have a quick look at how to collect your GAS from NEO here.
- Login to nOS client using your NEO wallet login details.
- Click “Donate” button below the charity of your choice.
- Enter the GAS amount you want to donate & you’re done.
@todo Finish up README with chosen charities and team member profiles.