Commitgood Ico Review

Commitgood Ico Review – The Future of Charity is Now on the Blockchain

About Commitgood

Commitgood is a philanthropic ecosystem built on the Ethereum protocol. With decades of collective industry experience, they recognize the need to create a transparent donation standard. Thanks to the advent of smart contracts, Commit GOOD is able to leverage a programmable system in which charities are held accountable for the promises they’ve made to donors.

Beyond transparency, Commitgood platform incentivizes positive behavior such as volunteering and moderation to further expedite and optimize the completion of charitable campaigns at large. In doing so, a company goal is to create a system in which marginalized individuals from around the world can log in and earn GOOD tokens for supporting campaigns in their local area.

Commitgood Key Information

KeyPoints
Token NameCommitgood
Tokens for sale59,000,000
Distributed in ICO75%
Hard cap14,705 ETH
Soft cap20,000 ETH
CountryUSA
AcceptingETH
Token SymbolGOOD
Token TypeERC20
RaisedUnknown
PlatformEthereum
Price in ICO0.3022 USD
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

The Game Change Team Behind Commitgood

Commitgood Ico Review - The Future of Charity is Now on the Blockchain

Introducing Commit GOOD

Up until now, charitable giving was limited to cash, checks, and bank card transactions. All of
these sources require third parties (banks, cards, institutions) to manage and control donations
outflow. Commit GOOD introduces a new financial paradigm by creating a new medium of exchange, GOOD, devoid from third party control.

Commitgood platform leverages smart contracts to govern both donor and charity activity, all while generating revenue and attributing GOOD tokens for positive behavior. By building on the Ethereum protocol, Commit GOOD is able to make donations measurable, traceable and impactful.

How It Works – Disrupting Volunteerism?

To ensure Commitgood platform meets the standards they’ve put forth at the beginning of this paper, all campaigns will be organized and governed in a similar fashion. This process was designed to promote quality over quantity as they believe this system will help focus attention on charities that are best prepared and passionate about the campaigns they are organizing.

Commitgood have provided a high level overview via the diagram below with detailed explanations of each step of the process to follow Volunteering as defined by Webster’s dictionary “a person who freely offers to take part in an enterprise or undertake a task”. Does freely taking part mean that you have chosen to “freely” help or that you have chosen to “freely” help with no compensation?

$GOOD Token Economy

In order to properly incentivize different actors on Commitgood network, they’ve created a native ERC20 token, $GOOD, that will serve as the primary medium of exchange between volunteers and charities on a network. In short, $GOOD is used to fuel donations, volunteering and listing on the Commit GOOD platform. Furthermore, they’ve introduced a number of GOOD-based roles to monitor, maintain and govern charity campaigns from start to finish.

Commitgood primary revenue stream will be 6% of all BTC donations raised on the platform.
As part of the $GOOD token ecosystem, materials produced by charities will also be available
for purchase on the Commit Good platform. The $GOOD token will be utilized to purchase
charitable educational materials, video content, and other similar type offerings.

Go to Market Plan

Commitgood benefits from first mover advantage by combining blockchain technology with a tested corporate social responsibility programs. Along with a strong pool of charitable organizations, they existing corporate clients outnumber the vast majority of competitors. They plan on leveraging established user base to create a suite of digital and multimedia marketing campaigns to become a market leader.

As the platform provider, Commitgood primary mission is to deploy the core framework stage by stage, while simultaneously allowing third-party developers to create additional applications and services that further enhance existing philanthropic fundraising solutions.

Technology Decisions

Blockchain technology is beginning to reach a stage where it can effectively act as a strong
governance value exchange for maximum distributed computing. By leveraging the Ethereum
protocol and the upcoming release of Serenity, Commitgood can scale to millions of
transactions per second while maximizing security and minimizing transaction fees.

Commitgood studied various blockchain platforms like Stellar and Bitshares before making the choice to build on Ethereum. In an effort to further examine Commit GOOD ecosystem scalability, they have read up on various off-chain solutions including but not limited to Matic, Raiden and Loom. Seeing as most of these projects are all in nascent stages, they have decided to forego implementation until Etheruem upgrades to Ethereum 2.0 via Serenity in early 2020.

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