CommitGood: Charity on the Blockchain

What Is CommitGood?

CommitGood is a blockchain-based charitable resource platform powered by the GOOD cryptocurrency. The platform seeks to integrate blockchain technologies into charities as well as to enable the charities to locate resources like donations or volunteers.

The current charitable giving process involves third parties such as banks or institutions that manage and control the donations. To eliminate the reliance on third parties, CommitGood utilizes smart contracts that benefit both donors and charities while generating revenue in form of GOOD tokens.

This results in an ecosystem where smart contracts govern all the social or economic interactions instead of third parties. The smart contracts will connect the non-profit community and ensure there is full transparency of all the donations made. Other areas that will potentially benefit from the CommitGood ecosystem include causes, projects, item donations, sales, deliveries and more.

How CommitGood Works

Once users have registered on the platform, they will have access to the CommitGood marketplace where they can list their products, and sell them in exchange for the GOOD cryptocurrency. The pricing of the items is determined by the current cryptocurrency value.

Once the products or items are purchased, the user can opt to use their GOOD on the platform or exchange it for another crypto or fiat. The user can also donate the cryptocurrency to any of their preferred organization on the CommitGood platform.

Apart from selling items on the marketplace, users can register a new charity on the Commit Good platform and they will be rewarded with two GOOD tokens for their account creation. After the campaign creator of the charity has set a donation goal, they can initiate the charity and receive donations from users around the world.

The fundraising campaigns are governed by smart contracts that ensure all donors receive GOOD tokens in exchange for their donations. Users can also contribute to the registered campaigns by registering as volunteers for at least one hour per day.

Alternatively, users can join the CommitGood ecosystem as deliverers and their main role will be to deliver items donated or sold on the Commit Good platform. Users acting as delivery personnel will receive 25 GOOD tokens for the services they have offered.

CommitGood Benefits

Transparency

Donors on CommitGood can track all their donations through Blockchain’s distributed ledger technology that creates an immutable record that cannot be deleted or altered. This ensures that donations aren’t misappropriated or used for any other purpose other than what the donations are intended for.

Lower Costs

Through the elimination of government agencies and financial institutions from the donation process, the donations reach the charities instantly without incurring the high fees and costs charged in the traditional donating process.

New Delivery System

Delivery of products has been a major challenge for most businesses, CommitGood will solve this challenge through its marketplace and reward system that creates a cost effective distribution system that simultaneously helps those in need.

Peer-to-Peer Solution

The implementation of blockchain technology within CommitGood eliminates the communication barriers since organizations and the donor community can directly communicate.