For the exclusion of intermediaries and maximum transparency, the blockchain is a great idea. Corporate donors are satisfied with the current model of charity, they don’t have time to search and analyze charity goals, it’s easier for them to transfer their donations to a charity and give them a choice of charity goals. But private donors want direct contact with a person asking for help.
Our platform is intended for private donors, but corporate donors will be able to find solutions for themselves, for example, blockchain companies that are easier to donate in cryptocurrency, and not every charitable foundation accepts them as donations.
Peer to Peer is the basis of blockchain technology, it allows you to complete a transaction without the participation of a third party, and this formed the basis of the charity process through our platform.
Any person who needs help can apply for help, telling about their problem, the required amount of money and uploading the necessary photos and scan copies of documents. The platform will automatically verify email addresses, mobile phone numbers, social profiles, as well as manually verify the identity card. It is only necessary to verify the email address, the rest are voluntary, but if they do not pass then the published application for help will have an underestimated rating and a warning to donors that voluntary verification has not been passed. Thus, we partially solve the issue of fake applications, which are unfortunately popular on the network.
When creating an application for help, the platform creates an account on the stellar network, to which all data is attached and to which donations from donors will be credited. The application for help has its own page on the platform’s website, on which there is an open discussion of the application and any platform members can ask a question in the comments and also like or dislike both the application itself and any comment. Such open communication is intended to attract the charity community of the platform members to analyze the application for help and create an objective opinion about the authenticity of the application.
The minimum discussion period for the application is 48 hours, if during this time the application has not collected the required amount, its discussion is extended for 48 hours and will continue until the application reaches the required amount or the deadline for collecting donations. But even if the application has collected the necessary amount of donations before the end of the next 48 hours, the discussion will continue, and until it is completed, any donor who donated to this application will be able to withdraw his donation. Based on verifications, comments, likes, dislikes and donor behavior, the platform generates a rating for the application, and participating donors receive notifications of a downgrade rating or withdrawal of donations by other donors.
As soon as the application has collected the full amount and the next stage of the discussion has ended, all donations are transferred to the application account and the application owner gets access to them. This is the finalization of the charity process and charitable assistance is considered to be provided, all information about the application is recorded on the blockchain including donation transfer transactions. If the application for help, for the duration of its life has not collected the necessary amount, it is canceled, all donations from the application are returned under the control of their owners.
In this way, we provide Peer to Peer donor – petitioner interaction and donor protection from fake applications. Unfortunately, this does not guarantee complete protection of the donor and there is a possibility that the user who published the application will be able to deceive everyone and get financing, but we very much hope that such cases will be rare. We will constantly work on improving security algorithms.