Communities and Donations
Intercoin has built applications to serve entire communities. As part of that, they help the community issue and manage their own currency.
Often, people ask “where is the money going to come from”. By this, they mean not the internal currency, but the reserve currency for which it can be exchanged. One major source can be Donations. Intercoin is gradually building applications for an ecosystem that allows people to donate directly to the people on the ground.
Refugees Fund
One major way Intercoin can make a difference is by enabling people around the world to quickly and directly crowdfund assistance to refugee populations, whether affected by wars or natural disasters, without relying on middlemen like NGOs and government agencies to do it for them:
There are refugees from crises around the world, including Yemen, Afghanistan and Ukraine. Sometimes, the refugees end up living in a diaspora for a very long time, such as the 3 million Rohingya people who were expelled from Myanmar.
Intercoin has been in touch with groups that work to raise money to help these refugees, and can help launch a unified initiative that allows people around the world to help them. We bought the domain refugees.fund as the place to launch this fund.
Here is how it works:
- We use our smart contracts, and launch a front-end interface at refugees.fund and in the app stores
- Agencies on the ground work with refugees to sign up and ensure that every refugee has at most one account, and issue certificates allowing refugees (and their families) to sign transactions through the app
- Our platform helps multiple agencies join into a Self-Regulatory Organization that manages certificates
- People around the world would be able to donate USDC, USDT, ETH and other assets to a fund
- The fund is distributed directly as Universal Basic Income to the refugees and their families. Their balance in the app is managed on the blockchain
- The agencies that work with refugees invite local vendors (food, clothing, hair salons, landlords) to accept payments from the refugees, by simply scanning a QR code.
- Local vendors are KYCed and added to a whitelist managed by the agencies, allowing them to periodically withdraw the payments, to subsequently pay their employees or convert them to fiat currency using any local exchange in their country.
- The blockchain address of each business is tagged by with tags such as “food”, “clothing”, etc. Donors can see how the money is being used by the people on the ground, with statistics showing what the average prices were in each category of spending every week, etc.
Digital Assets / Rewards
The donors can know that their donations really go to the people on the ground, while they themselves receive digital assets which are backed by “proof of donation” (rather than “proof of work” solving a useless hash problem in Bitcoin).
Donors receive “Impact Tokens” proportional to how much they donated. They also receive NFTs and Roles in the community depending on the total size of their donations, as well as the size of the donations made by people they invited. This incentivizes people to bring others in, and receive Impact Tokens and recognition based on how much they really contributed.
Roles include:
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Ally: Thanks to your donation, a family of five will be able to eat a nutritious meal and avoid food insecurity.
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Supporter: Thanks to your donation, a family will receive a prepaid smart phone to communicate with loved ones.
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Patron: Thanks to your donation 10 children will receive school supplies.
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Guardian: Thanks to your donation, a refugee can receive medical attention.
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Knight: Thanks to your donation, a family of five will be able to eat a nutritious meals for one months time.
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Champion: Thanks to your donation, a family will be provided with temporary shelter for one months time.
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Hero: Thanks to your donation, a mobile medical clinic can operate for one month.
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Legend: Thanks to your donation, a mobile medical clinic can operate for one month.
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Saint: Thanks to your donation, a family will be provided with temporary shelter, medical attention, nutritious meals, clothing, personal hygiene products, and a prepaid smart phone for one months time.
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Angel: Thanks to your donation, multiple families will be provided with temporary shelter, medical attention, nutritious meals, clothing, personal hygiene products, and a prepaid smart phone for one months time.
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Connector: Brought in the same level of donations as as a Patron
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Superconnector: Brought in the same level of donations as as a Knight
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Ambassador: Brought in the same level of donations as as a Hero
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Celebrity: Brought in at least 100 donors
College Fund
The same can be done in peacetime to sponsor promising youth. Here is an example of how students at a university can receive a recurring stipend (UBI) which they can spend around campus. The money would come from alumni of the university, who have since graduated and become financially successful. Now they want to give back to the students directly, without simply relying on the university administration to do the distribution:
