Humanitarian fundraising Boost with Go Fund Me
Blockchain and Humanitarian Fundraising
Since Ethereum raised the prospect of dApps being used for humanitarian purposes, many have wondered what that would look like. Now we may finally get to see one in action, one that may just revolutionize humanitarian aid throughout the world. And that organization is Go Help Fund, a blockchain for fundraising, built on top of the Ethereum platform.
How does it work?
Go Help Fund is a fundraising platform where people can fund causes big and/or small. Users will be able to donate either to individuals or NGOs, such as the Red Cross and UNICEF. By using blockchain technology, funding a cause can be made more directly, cutting out any third-party. This means no one can steal your donation and no one will charge you for it either.
They also have a mobile app, so people can make donations from anywhere. From images displayed on their website, it appears that users will have a feed of humanitarian causes to choose from. These can range from surgical transplants to ending world hunger and infrastructure projects, such as repairing schools. It also appears that each cause will show what percentage of funds they have received so far.
How does the Go Help Fund blockchain work?
Despite being powered by Ethereum’s network, Go Help Fund relies on A.D.E.N. to handle its donations. A.D.E.N (Advanced Distributed Edge Network) was designed so Go Help Fund can decouple from Ethereum. It still requires miners to operate, which means it runs a proof-of-work protocol. Until Go Help Fund moves from Ethereum, it is safe to assume much of how it works is the same.
The Go Help Fund blockchain utilizes a three-tier structure - nodes, masternodes, entity masternodes. Users can also choose to help by becoming a masternode for 2,500 help coins or an entity masternode for 25,000 help coins. Little is disclosed about the benefits of becoming a masternode, though they are rewarded for each block in their chain. Additionally, a masternode will have 1 vote and an entity masternode will have 10.
Bringing trust back to a trustless society
Decentralized blockchain-platforms bring trust back into a trustless society. They do this by allowing us to make trust-based decisions without actually needing it. For example, with blockchain technology, the distributed ledger shows us all transactions. This is vital for charities to restore trust in the public - they can see where the money goes. In today’s world, this is very important as trust in charities is at an all-time low.
No longer will donators worry if their money will go to the cause or not. This time they will literally see it happen in front of their eyes. Additionally, users can donate directly to the cause, not to the charity itself. This means funds go directly to the cause it was donated for and won’t be spent on other purposes. On top of that, it means small charities or even individuals can compete with larger ones based on their cause.
Go Fund Help is also supported by a number of companies. These include cybersecurity company Comodo and Dun & Bradstreet. They are also powered by Amazon web services, which instills further trust. They have also disclosed their own identities and can be reached via LinkedIn.
Go Help Fund Coin (HELP)
Go Help Fund uses the Help coin to facilitate transactions, which uses the ticker symbol HELP. HELP is an Ethereum ERC-20 Token, which is built on Ethereum but can be adapted to other networks. Bear in mind that as Go Help Fund transition from Ethereum to A.D.E.N., this may change.
According to CoinGecko, as of October 18th, 2018, one Help coin cost $0.04212698. While the price is currently very low, so is the volume. At this point in time, CoinGecko states that Go Help Fund has a market cap of $210,647. Because of this, Go Help Fund may not be ready for crypto leverage trading but keep an eye on it.
Additionally, Go Help Fund state that there are currently 5,000,000 HELP coins in circulation. They also state that there will be a future supply of 27,000,000. So, it may be a will before they are able to bridge that considerable gap. Once the Help coin gains more liquidity, traders can sign up for BitMex signals to take advantage of it.
From February 23rd to March 23rd, 2018, Go Fund Help held their first ICO. The ICO was reasonably successful, raising $114,145. Throughout the ICO they accepted funds in BTC, ETH, BCH, LTC, XRP, XMR, DASH, and BNB.
Go Help Fund appear to still be looking for funds, so they may launch a second ICO. Though there is no information on if they are considering this and when it could be. Those that would be interested in purchasing HELP in an ICO should do thorough research on the first ICO beforehand.
Go Help Fund is an example of how blockchain technology benefits the world and is not just for finance. It shows people that blockchain is about saving and improving lives as well as making them easier. A reminder that blockchain technology can help unite the world for good causes.
It also shows the world that it can help heal issues people have with trusting charities.
Donors will now be able to fund causes directly, not institutions. This also means that smaller charities or even individuals can compete with larger ones for funds, which is fairer. On top of that, by being transparent, donators will be able to see exactly where that money goes. With such a model in place, large charities may take up a similar structure or adopt Go Help Fund directly.
They still have a lot of work to do, but it is a step in the right direction. While recognition from some companies is beneficial, perhaps the next thing they need is partnerships with other charities and NGOs. With a strong backing from humanitarian fundraisers, Go Help Fund may be able to elevate itself to a new level.