New Counterparty Asset - Charity Coin - 100% backed by donations

General Counterparty
1

I have created a new asset on the system:  Charity Coin
See http://charitycoin.co.uk

I think this could add value to counterparty.

The basic principals are:
1. £1 verified donation to any registered charity = 1 Charity Coin
2. This is the only method of coin creation
3. There will be a maximum of 100 million coins

The basic idea is to verify all donations via the comments on JustGiving and then publish the links to all the comments so everyone knows the coins were created after genuine donations.  The coins are manually allocated to donors.

Please let me know what you guys think and how this could improve.  It is only in the early stages so there may be many weaknesses in the system.  Please contact me at info@charitycoin.co.uk if you have any suggestions on how to improve it or if you would like to help.

Please also feel free to test the concept out and make a small donation to a charity of your choice.

Thanks

2

I think this is a great idea, however the fact that you have to do it manually is probably a problem.


Ideally there would be an interface where you donate and then receive the coins.




Also what are you supposed to do with the coins? Are they a way to keep track of how much you have donated?

3

Hi

Thanks for your comments.  I admit the manual part is a problem, however at this point the only way around this that I can think of would be with assistance from the giving platforms.  Do you have any suggesting to increase the level of automation?

As for what you are supposed to do with the coins, I have no idea.  I think this is a good distribution model.  In my opinion the potential advantages of decentralised exchange are very high and counterparty is the first one I have seen.  If some meaningful assets are created on the exchange, like Charity Coin, then there could some potential.  The primary purpose of this coin is to provide some incentive for charitable donations.  If it will achive this or not, I do not know.

I think you are correct, I should make a login system where users can see their donation history.  Then perhaps an optional wallet on the website where the coins would be sent by default.