As the world is still full of those in need, there are many charitable organizations leading and organizing the transfer of resources from those who can spare to those who need them the most. Charity is a huge sector that moves a large amount of funds across the world. Top 6 countries by charity donations have donated over $500 billion dollars combined. There are about 1.5 million registered non-profit organizations in the US alone. Charity organizations, just like any other sector, have incorporated modern technologies into their line of work. Many accept donations through online channels. Yet, there is often lack of trust in people that might hinder many from donating to organizations. We often hear stories about charities embezzling funds and money not reaching the recipients. One of the biggest advantages of the blockchain technology is the transparency it brings. CHERR.IO is an Ethereum based platform that wants to reinforce people’s trust and facilitate the donation process.
The donation process on CHERR.IO starts by organizations activating the campaign on the platform. This is an optional step that will help promote and accelerate the donation process. Activation of a campaign occurs by donating CHR tokens. Once the company donates these tokens, CHR token holders, also known as Cherrions will start promoting the project. Cherrions are members of the system that get rewards for attracting donations to the campaign. After the fundraising process is complete, donated funds will be transferred to the beneficiaries, with a little portion going back to the system to be used as rewards for Cherrions. If the funds do not reach the target, donors have the option to withdraw their donations. This is a very unique process and one that differentiates CHERR.IO from others. Since all transactions occur on the blockchain, there is a high degree of transparency and donors can clearly observe the use of their donations.
The way Charrions get rewards is designed meticulously by the platform authors. There are specific points assigned to certain activities. For example, a mention on Twitter is worth 50 points, Reddit activity is worth 100 points multiplied by the level of the user and so on. These points are accrued both as Status points and Reward points for Cherrions. Status points determine the level of a Charrion while Reward points can be exchanged for CHR tokens. 1 CHR token will cost 1000 points. This way more active users that spend more time and resources promoting campaigns, will have a higher status and chance to earn even more rewards.
CHERR.IO is one of the most lauded blockchain-based projects of 2018
CHERR.IO is an acclaimed ICO that gained a lot of praise internationally. It won the FuturHack 2018 in Davos as well as other titles in different countries. The ICO has high ratings on almost any platform and is distinguished by user trust. The solution is geared towards organizations which could increase the stability of operations. There is a clear need for a similar platform that increases the transparency in the donation process and CHERR.IO has all the tools to meet that demand.