Dona Coin ICO Review (DNC Token): Decentralized Donation Platform

Dona ICO

0.01 USD
Dona ICO
7.2

TEAM COMPOSITION

4.0 /10

BITCOINTALK.ORG THREAD

8.5 /10

Community and Media

7.0 /10

TOKEN DISTRIBUTION

8.5 /10

WHITEPAPER

8.0 /10

Pros

  • Donation funds will be directly transferred to the support activity.
  • Donor will know that what is happening with the provided donation money.
  • Elimination of mediators will decrease the loss of donated funds.
  • Comparatively transparent platform than present day organization

Cons

  • This is not a free service. It is a business platforms like others. As 0.5% of the donated money is taken as fees. Which does not sounds good.
  • Liquidity risk
  • Cyberattack risk if platform unable to control the private key. It also has the 51% of attack risk.
  • If you lose the private key you will lose everything.
  • As the platform runs on NEM’s blockchain so if the fees of NEM changes, the fees of Dona platform will also change.

Do you donate? And are you a blockchain technology seeker?

If yes then this article is for you.

According to a study the amount of individual donations to charity is increased by more than £600m in 2017. The total individual donation in 2016 was 775.6 billion yen.

Now you may be thinking that why I am telling you all this.

Due to unknown donation usage, donations are reserved by some factors such as the reliability of charity organizations and the uncertainty results. This happens due to lack of knowledge, transparency in cost and use with regard to the operations of NPOs and intermediate traders.

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NPOs are non-profit organization. They are the organization which is not driven by profit but by dedication to a given cause which is the target of all income beyond what it takes to run the organization.

The number of NPOs are increased steadily and donations are mainly focused on major NPOs organization due to the lack of interest in and understanding of NPOs. Very few people knows that only a small number of certified NPOs gets tax incentives.

Sending money in payment or as a gift also known as remittance, the charges are very high for that which includes bank transfers, overseas remittance, etc. Also these days’ donations not reach to people who need it or at needed time because of delay in distribution or over donations, etc.

Dona platform has a solution of this and they are promising it to solve these problems via technology.

What is Dona Coin?

Dona is a new digital blockchain technology system which offers new donation platform. This platform makes donation accessible to everyone with the help of NEM’s blockchain technology.

The main focus of the project is to increase transparency in the flow of donations and building a community for sharing best practices in donations. These communities will share information about organizations, assessment, and successful experiences in making donation.

White Paper

What problems Dona will solve and how?

The platform will eliminate the mediator traders from the process of collecting and distributing donations by the blockchain technology. So that you will be able to give donations directly to the support activities. The flow of donations are opened and protected from tampering.

After giving the donation user can receive feedback about that activity from that particular activity team. On the Dona platform activities and achievements of charity organization can be conveyed. This will solve the problems which are related to donation culture.

Visualizing the donation process, it is possible to improve the accessibility of donations and encourage donations. The platform will improve the donors’ satisfaction to keep them motivated to make donations by elevating their activities and results through presentations and others. This will help the platform to generate more donations.

The platform will disclose that how the provided donations are used for the supported activities.

How Dona works?

Dona platform informs the successful experience of donation in cryptocurrency.

Block chain technology solves the uncertainty and low reliability of the donation market. With this technology, the flow of donation money is open to the public and can’t be tampered. A “recipient” in trouble registers a support project, “supporter” who supports them selects that and donates with Dona coin.

This realizes donation to support activities directly without intermediate organization. Also, by connecting them directly, ecosystem builds a community that shares the successful experience of donation. The Dona platforms aim that people all over the world use “dona” by issuing its own encryption currency “dona coin” through the exchange eventually.

Token Details

Token name – Dona coin

Symbol – DNC

Total supply – 3, 700,000,000 DNC

Minimum unit – 0.000001 DNC

ICO Details

Price of token in ICO 1 DNC = $0.01 USD
Minimum purchase amount $100
Accepting NEM (XEM), BTC, ETH
Soft cap $1,000,000 USD
Hard cap $15,000,000 USD
Token sale quantity Stage1 and stage2: 700,000,000 DNC

Token Distribution

Use of collected fund from Dona ICO?

For soft cap

For Hard cap

 

 

Conclusion

The platform is just collecting and distributing the donated fund amount from user to the needier. For that they are charging 0.5% fees which is quite high. I am not talking about some small amount donation but of someone donates the big amount for donation the platform will get large amount of money without doing that much work.

I understand that I will get information about my donated money by the support activity but how will I ensure myself that the provided information is true. It can be false and last but not the least why would I give my hard earned money to a platform instead of reaching the people who need that money by doing some extra efforts.

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I hope you like this post. Do share this post with your friends and family.

Cheers!!

VirWoX

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