Re: PICISI (Philanthropic Investment and Charity for Inventions, Startups, an Ideas)
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That's a very good question but I don't exactly understand it, please rephrase the question with elaboration.
I don't understand. If you didn't understand what I asked, how can it be a very good question?
When you raise funds, you need to store it somewhere before giving it to the person who started crowdfunding or is the funds send directly to the user's address when sponsors fund it?
Armis, please don't ignore.
Thank you! Where/How are you planning to store raised funds?
That's a very good question but I don't exactly understand it, please rephrase the question with elaboration.
I don't understand. If you didn't understand what I asked, how can it be a very good question?
When you raise funds, you need to store it somewhere before giving it to the person who started crowdfunding or is the funds send directly to the user's address when sponsors fund it?
Armis, please don't ignore.
Muhammed, I am not ignoring you.
When I read your question the first time I thought I understood it and simply didn't know the answer, then when I read it the second time and thought I understood it I believed I would need consultation to answer it, then when I read it the third time and thought I understood it I was going to answer it based on what I though was the question but then I realized that if my presumption was incorrect that I would be answering the wrong question and perhaps seen as dodging the question, so instead I simply asked you to rephrase the question with more detail so that I could try to understand it as you are asking.
Frankly, I am disappointed to see that reply. I don't know how more can I simplify it.
Post the answer to what you understood from my question. PM me if you can't post here. I will post here if the answer you gave is what I wanted to know.
Edit: Rephrased question: When you receive money from crowdfunding, will you be holding onto it or sending it instantly to the person that would eventually get it?
Muhammed, I didn't ask for simplification I asked for more clarity.
I now have more clarity, as it turns out it was nothing like what I thought you were talking about.
Here is your answer:
When someone goes to the site they will have the opportunity to collect funds in fiat and CC, the fiat is collected by way of Paypal the organizer receives their share of the donation and the site receives its share of the donation. For CC, depending on what the host CC sponsor is all other CCs donated to that campaign will be immediately converted to the host CC sponsor's CC and held for the duration of the campaign or until the organizer wants to use the funds to use the services of the Campaign Contractors. In that case we will escrow all of the funds necessary for that particular transaction and upon the customer's satisfaction with the services provided the escrowed funds are released to the contractor. feedback will be issued by the escrow agent and both parties are encouraged to leave feedback too.
In that example every CC donation was an example where the CC was used as a currency not simply as a commodity, then whoever the host currency sponsor is is also receiving some market appreciation to the extent of all of the funds that are being converted from the donated currency to the host CC. And lastly when the organizer used the services of the campaign contractor to do work for the campaign (video, article, music, etc...) then the host CC money is used a second time.
I only mentioned 1 sponsorship opportunity in that example there are 5 to each account and 3 of them could have multiple sponsors.
Oh, and because of we expect to have a sea of sponsors as well as the nature of CC in terms of microfinance we could assure each and every campaign that is approved will receive some level of funding and some level of sponsorship if they want it -- every campaign will get something.