New approach to fundraising will allow donors to see how their funds are being spent
- Giftcoin uses blockchain to enable charities to showcase the value of donations, enabling donors to track where their money goes and building trust in charity organisations.
- Charity Checkout is a leading fundraising platform with over 2,000 using its fundraising tools
London, UK – 08/03/2018 : Giftcoin, the blockchain start-up that brings transparency and trust to charities, today announced a collaboration with fundraising platform Charity Checkout. Giftcoin’s donation tracking technology will redefine the relationship between charity and donor by bringing trust back into the equation. Donors will be able to see the true value of their donations by understanding where and how they are spent. The collaboration will work towards making Giftcoin’s blockchain solution available to any of Charity Checkout’s 2,000+ charities who wish to accept the cryptocurrency.
Giftcoin’s platform has been specifically designed to revolutionise the way people donate. Donations are converted into the Giftcoin cryptocurrency, allowing the subsequent path of the contribution to be tracked from end-to-end using blockchain, while providing immutable proof of transactions. It will close the feedback loop by sending donors a notification when their gift is spent and, crucially, informing them about how their money has been used. The technology further drives fundraising by encouraging social media sharing, turning each donor into a social advocate of the charity and helping them to spread awareness. Charities already signed up to the platform include English Heritage, Best Beginnings and Ourmala.
Alex Howard, co-founder of Giftcoin said: “We are proud to be working with Charity Checkout. They are innovators in giving charities the tools they need to be successful in fundraising, and we are excited about the potential to offer our additional tools for increased transparency to the thousands of charities they work with.”
Chester Mojay-Sinclare, founder of Charity Checkout added, “As the founder of one of the UK’s largest online fundraising and charity payments providers, I’m interested in how Giftcoin can revolutionise online giving. We’re excited about working with Giftcoin to see how it can be implemented into the existing online giving ecosystem to increase trust, transparency and overall giving.”
Headquartered in London, Giftcoin was founded by veterans of the charity and tech industry. Its founders include Alex Howard, who created UK charity The Optimum Health Clinic, and Tim Bichara, co-founder of fintech start-up Q App, which last year was acquired by Yoyo Wallet.
Giftcoin’s aim is to revolutionise the charity sector through the implementation of blockchain technology, transforming the way that donations are received and tracked. The technology has the power to increase transparency by following expenditure of funds, keeping donors updated and restoring the public’s confidence in charities.
By building relationships with donors, it elicits greater support and donations, meaning that the causes people care about get the support they need to continue doing good in the world.
About Charity Checkout:
Charity Checkout is an award-winning online fundraising platform founded by Chester Mojay-Sinclare in 2012. Originally set up to help small charities raise funds via digital channels, the social business quickly grew and now serves over 2,000 charity clients worldwide. In addition to their work with charities, the company now also helps global enterprises with their employee-led fundraising.