TrueDonate: new cryptocurrency donation system enters ICO
An ICO of the new platform for cryptocurrency donations – TrueDonate – will take place from December 1, 2017, to January 15, 2018. The platform has been designed for creative people (bloggers, artists, animators, musicians) as well as for philanthropic and civic initiatives. The pre-ICO was conducted on October 1, 2017, based on the Ethereum.
TrueDonate allows to create a button or landing page for the one-click collection of donations in any cryptocurrency. All payments are transferred into TDN tokens and then the organizer can exchange them for fiat money or any other cryptocurrency.
The main goal of the TrueDonate platform is to allow people and charity funds to collect cryptocurrency donations, making the process public, transparent, and safe, as well as to decrease corruption risks as much as possible. To increase a security level, the platform has been integrated with the Antifraud system that checks donator profiles and companies in order to determine suspicious patterns and informs the community of them.
In turn, the community is an additional natural regulator of the TrueDonate ecosystem. Users can influence fundraising campaigns by means of the rating, comments, and reviews. Each tool is integrated with the blockchain technology, thus it is quite difficult to manipulate public opinion and use cheat methods.
The platform intends to conclude agreements with major charity funds and to develop the API in order to allow existing fiat donation services to support cryptocurrency donations.
The TrueDonate platform will create an internal fund after the ICO for the further development. This fund will receive 3% deductions of funds due to smart contracts. It is relevant only for creative people’s donations. Charity is an exception and not taxed (all 100% of funds go to a recipient).
Sergey Kozin, CTO at TrueDonate, notes: “Cryptocurrencies are developing quite rapidly. However, it is still difficult to accept cryptocurrency donations because of their amount. We want to simplify and speed up this process so that everyone can accept or contribute tokens and be sure that they will be used for the stated goals.”