Blockchain payment platform UTRUST has announced a new collaboration with Aidcoin.
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Integration Details Aidcoin is an ERC20 compatible token aimed at reimaging charitable giving. The work between the two projects will allow users to securely donate to charities using 23 different cryptocurrencies, thanks to AIDChain through UTRUST’s interface.
Nuno Correia, the CEO of UTRUST said about this partnership:
“UTRUST is proud to support such an amazing cause. Transparency, accountability and giving back to the community are a pillar of our team’s purpose and culture as well.”
Before this integration, users were able to donate through the interface by two channels. The first method first received the cryptocurrency, converted it immediately to AidCoin tokens, where they were then managed by charities within a single AIDCHain wallet.
The second way was through a “Donate” button, which let users donate UTRUST tokens (UTK) from their wallets to the selected charities wallet. Thanks to AIDPay, an embeddable widget will now be available for charities. This widget can be placed on side applications and websites, allowing for charities to easily spread the word.
Since the widget is so accessible, donating becomes much easier for users as well. The widget also allows users to track the journey of all donations from start to finish, as well as how funds are spent.
AidCoin CEO and Founder, Francesco Nazari Fusetti, shared his thoughts on the partnership:
“We are very excited to enter this partnership, and introduce an opportunity for crypto holders to donate crypto straight from their Utrust wallets seamlessly, or when making a payment – a well-established practice in conventional banking and payments solutions, and yet an unprecedented case in the crypto world.”
This makes the donation more personal for the user, improves transparency, and decreases corruption by making sure charities spend funds where they promise to.
Cryptocurrency Implications in Charity
Cryptocurrency addresses a lot of problems for donating and makes it far easier and more accessible for users. Cryptocurrency transfers faster and can cut through a lot of the red tape regarding international transfers. Charities can accept cryptocurrency donations from one location all over the world, and not have to deal with converting different currencies, or physically transferring money.
Confirmation times are faster than transfer times as well, at a fraction of the cost. Because transaction costs are so low, users can donate smaller amounts of funds as well. It allows for new use case scenarios for donation, such as automatically sending the change to your favorite charity or rounding up expenses to the nearest dollar and donating the difference.
To learn more about UTRUST, visit their website. While there, check out their whitepaper for in-depth information about the project. For social media updates, make sure to follow UTRUST’s Twitter and Facebook account. Blog posts are made on UTRUST’s Medium.