Jun 22, 2018
There is no doubt that giving and helping important causes is one of the most rewarding experiences in life. Charity is the fundamental pillar we use to reach people who need financial help. For the longest time, those more fortunate have given a helping hand to those in need.
After all, this is what makes us human and helps us do something positive for the community. Charities today function as the middlemen between donors and recipients. By using a small percentage of the donations, they manage to run organizations that link the two parties with each other.
With the introduction of blockchain technology and smart contracts, the middleman is soon going to be a necessity of the past. We believe that charities should be transparent and honest in all areas of work, and we intend to do this with ClearAid, a blockchain based, charity platform.
ClearAid is a platform that aims to connect the non-profit community through an easy-to-use interface which allows full transparency and traceability of donations made on the blockchain.
The platform is supported by an ERC20 token, named CAID, which is based on the Ethereum blockchain and serves as the donation method of the ClearAid platform.
No more middlemen
When donating to charity, money has to pass through multiple hands before reachingthe recipient. The problem with that is that every middleman, such as the charityorganization, the financial institutions, government taxes and other agencies all keep asmall amount of this money, greatly depreciating the value.By using the Blockchain to make these transactions, the recipient will receive thedonations much faster and with minimal fees.
Charities are turning to the blockchain and its financial instrument, cryptocurrency, tomake donation records easily accessible and accountable. Transactions made on theblockchain are recorded on the public ledger, which is distributed across hundreds ofthousands of computers for anyone, including the donors, to see and verify. Due to itsdistributed nature, records on the blockchain cannot be altered in any way.
Transactions made on the blockchain are also cheaper than fiat transactions. Donatingcryptocurrencies only have a small transaction fee for the wallet or exchange you aresending from. When sending fiat, however, through bank accounts or Paypal, thefinancial institution will keep a hefty sum as a fee, usually 5-10 times higher than if youpaid with cryptocurrency
Implementing Smart contracts.
Smart contracts are defined as computer protocols intended to digitally facilitate, verify, orenforce the negotiation or performance of a predetermined contract. Smart contracts allow theperformance of credible transactions without third parties involved. Transactions made in thisway are trackable within the Blockchain.By choosing the Ethereum blockchain we ensure that all donations will be made using Smartcontracts. This is by far the most secure, efficient and transparent way to transfer funds fromthe donor to the recipient.
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Attention. There is a risk that unverified members are not actually members of the team
SummaryCareAid provides the best answer to the growing problem of distrust in the charity market. By making all money transfers clear and giving donors the ability to track their money to its final destination, CareAid will encourage charitable donations, and make sure that more goes to causes and less goes into the hands of the greedy.Positives The CareAid platform will be completely transparent Those in need will be able to create charities and seek our charitable givers All money sent will be kept secure through the decentralized blockchain network Partnered with several large charitable organizations, including the United Nations Foundation Negatives All donations will be made in cryptocurrency CAID tokens, so they will need to implement an easy way to exchange fiat to achieve mass use.
ClearAid helps to solve a problem that plagued donations for a long time. Many companies that were interested in charity struggled to keep transparency and the trust of its clients, but they will not need to worry now if they use this new token. Because of this, we consider ClearAid tokens to be an interesting way to invest in charity.
You might feel that there is a need to the service that ClearAid are going to be offering once they have reached their funding goal and the move forward with the launch of their project and concept, and it is fair to say there is a chance it could prove to be highly profitable. However, they are going to face some challenges ahead, and those are going to need to be overcome on an ongoing basis, and you will need to ask yourself, do they have a good enough team in place to get over the hurdles that are ahead of them. ClearAid tokens are not as expensive at this stage in their development as they could get to over the long term, so whilst I would never put you off investing in them you should take a cautious approach to how much you do invest in them if you do fancy doing so.
Project strong sides: low price of payments, fast speed, transparent. Project weak sides: no clear business plan, marketing strategy, market researches, no understanding of competitive advantages specifically for charity. So our position is negative, probably scam.
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