AidCoin, the Charity Italian cryptocurrency

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Blog
18 gennaio 2018

January 2018 - Cryptocurrencies horoscopes does not seem to bring good news.

The first days of new year registered a fall of 130 billion of dollars in the cryptocurrency market. The first to go down has been Ripple, which, after the increasing recorded in the last months of 2017, has collapsed for almost the 50% of its total value. And the financial procyclicality starts. The negative trend has soon interested the others well-know virtual coins, as Bitcoin whose value decreased by about the 30% compared to the maximum historically recorded.

The main concern regarding the cryptocurrencies is on their real use in the economic system and their integration in the monetary system, as we know it.
Currently, these currencies are mainly considered "safe haven assets", investments with speculative purposes.

While users, regulators and financial markets argue at the sound of financial rumors, in Italy there is who have no doubts about possible uses of virtual currency.

AidCoin, a cryptocurrency for charity

Born from the creators of CharityStars, AidCoin is a cryptocurrency that, based on the Blockchain technology, allows to raise donations for charity, through the auctioning of assets belonging to famous people or vis-à-vis appointments. AidCoin is a project completely Made in Italy. 

Why AidCoin is not the usual cryptocurrency

AidCoin founders - Manuela Ravalli, Domenico Gravagno and Francesco Nazari Fusetti - are absolutely certain that the world of non-profit organizations and the charity sector can and should benefit most from the effects of this revolutionary technology.

The Blockchain infrastructure, by its own nature, offers a high degree of transparency and traceability of the transactions carried out.  This characteristic is according to the founders of AidCoin the true strength of their cryptocurrency.  The platform, ad-hoc created, allows donors to track their donations until the last mile and last cent, thanks to the platform's ability to interface with NGO data.

AidCoin differs significantly from other cryptocurrencies not only to be completely Made in Italy but above all for the business model conceived and built around the cryptocurrency. The charity coin is linked to a charity platform: we are faced with the first case of a merger between a financial instrument and the world of charity. In addition, by purchasing AidCoin you can participate in all the charity initiatives promoted by ChairtyStars, supporting every operation promoted by the same. Finally, among the peculiar traits there is certainly the strong intention of the founders to disconnect the idea of cryptocurrency from the startup, making AidCoin as a financial tool accessible to all transactions that have the charity not only as the ultimate goal but as a central node of the their existence, as the world of non-governmental organizations that could be strongly interested in the use of AidCoin to receive donations.

A $16 million Initial Coin Offering

In the last months of 2017 AidCoin has launched an ICO - Initial Coin Offering - of 12 million tokens to purchase. The offer, supported by a specialized Swiss intermediary, allowed the startup to reach - in less than 2 hours - the target of 6.5 million euro, equal to about 6000 Ethereum.

 

The value increase registered by Ethereum made it possible to stabilize the value of the ICO, on the 16th January, at € 16 million. From the same words of the CEO Francesco Nazari Fusetti, the request has far exceeded the offer, leading to having to refuse 6 million dollars from other contributors.

Not bad as a start for the first charity cryptocurrency.