Describe the company – the elevator pitch …
AidCoin is the token for charitable giving, which powers the ecosystem of services provided by the AidChain platform. Additionally, AidPay is a payment gateway or embeddable widget that allows charities, registered on the AidChain platform to accept donations in different cryptocurrencies directly on their website and mobile application which are then instantly converted into AidCoin.
The project is developed by CharityStars, a company that has raised $10M USD to date for 500 non-profit organizations collaborating with celebrities such as Cristiano Ronaldo, Metallica and Novak Djokovic. AidCoin, AidChain, and AidPay are bringing blockchain technology to the non-profit sector to make it more transparent.
?@aid_coin Bringing Non-Profits & Charities to the Blockchain.
Powered by Charity Stars. We helped raise $10m+ for charities. VC Backed team.
Lets bring Transparency & Accountability for Donors
Learn More –> https://t.co/LgyLN9c9aA
?Pre-Sale November 20th, 20% Bonus. pic.twitter.com/HGZQyoIRag
— CharityStars (@CharityStars) November 13, 2017
How are you different?
AidChain will provide an ecosystem of services to facilitate charities’ adoption of blockchain technology and will do so through an easy-to-use interface, which empowers donors and all other non-profit actors with the ideal tools to make charitable donations more transparent and traceable.
Why will you do well?
The AidCoin team is developing a custom solution that we believe provides clear incentives for charities and donors adopting it, including; an internal exchange to convert major cryptocurrencies into AidCoin, a built-in wallet to store and donate easily, an explorer to track donations transparently, tools to connect donors with all the actors involved in the non-profit sector and templates of smart contracts to run fundraising campaigns.
Moreover, AidCoin is developed by CharityStars, a well-established, VC-backed charity fundraising organisation. Since its inception, CharityStars’ team of 25 professionals has worked with 500+ charities including Unicef, Save the Children, and WWF. Our core competency is the ability to forge high-level partnerships between charities, celebrities and high-profile corporations.
Unlike other projects looking to tokenize the non-profit sector, CharityStars has developed an ecosystem of charities and donors to jumpstart the immediate use of the tokens – indeed, such ecosystem is already up and running. CharityStars, therefore, has the capabilities and resources to fulfil the blockchain promise to the non-profit world.
— AidCoin (@aid_coin) November 30, 2017
Where are you based?
Milan, London, and Los Angeles.
When was the company launched?
Charity Stars was launched 4 years ago, in 2013. It was co-founded by Francesco Nazari Fusetti, CEO Domenico Gravagno, CTO and Manuela Ravalli, Celebrity Manager.
AidCoin was conceived in June 2017 in response to the continuous decline in trust on the part of potential donors. According to Essential Research, 35% of US citizens have little or no trust in charitable institutions. Similarly, in the UK, figures are no better, 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.
What have been your biggest wins to date?
A major win for AidCoin has been launching its token presale and being able to raise 8,333 ETH. The team aims to make the upcoming AidCoin Token Sale its biggest win to date.
On the other hand, CharityStars is proud to have started to accept bids for their auctions in cryptocurrencies such as Bitcoin and Ethereum, in turn helping the non-profit sector rebuild trust and transparency. It has also been a fantastic journey, to be able to expand internationally and grow our amazing team.
Who are you trying to attract to your product?
We will attract donors who want to track their donations step by step and non-profits that want to be more transparent therefore enhancing their ability to raise more funds for their causes.
What tips would you give to others looking to build their business?
Embrace change and innovation because the future is not a place we get to visit, the future is a place we get to create. Get started!
Tell us about your team?
We strive to leverage our passion for technology to deliver social impact and promote good throughout society.
What are your plans for the future?
Our plans include launching and optimising the AidChain platform and all of its services as well as aiming to quickly increase the adoption of AidCoin across the non-profit sector.
How is blockchain technology impacting the non-profit sector?
Blockchain technology is positively impacting the non-profit sector, by increasing transparency and enabling donors to track how funds are spent, in turn helping charities to raise more funds. Using distributed ledgers to track transactions, cryptocurrencies to transfer funds and smart contracts to ensure donations are spent correctly, blockchain technology has the potential to impact the whole non-profit sector.
What are your favourite tech gadgets?
Any gadget that can truly optimize and enrich our lives. Also, I have a soft spot for hard wallets, any way, shape or form.
What tech gadgets do you wish you could use to help you?
It’s probably not considered a gadget, but I’m waiting for driverless cars in order to work on the go.
Anything else you’d like to add/we should have asked?
We recently conducted charity auctions with some of the biggest names in the blockchain industry such as Brock Pierce, Chairman of The Bitcoin Foundation, Ryan Taylor CEO Dash, Erik Voorhes, CEO ShapeShift, Galia Benartzi, Co-Founder Bancor, Jeremy Gardner, Serial Entrepreneur and Dr. Julian Hosp, Founder and President of TenX. The auctions all benefitted a range of non-profits including Unsung, WWF, Bprotocol Foundation, Save The Children and The Blockchain Education Network.
We will launch more exciting initiatives in the next few weeks in conjunction with the AidCoin Token Sale.
How do people get in touch with you?
Edited and prepared by Amy Murphy, Journalism student in DCU.