Quote from: tyz on August 28, 2015, 06:59:24 PM

Is there a whitepaper somewhere? I am very interested how the proof-of-participant concept is designed.

There's a whitepaper on our website, grantcoin.org. The essence of the proof-of-participation concept as we envision it is to give a financial incentive in the form of Grantcoin to businesses to accept the currency. The incentive will be in the form of Grantcoin coupons to be passed on to the customer. So if the customer pays in Grantcoin, then they get 10% off or something like that. The discount is funded by the Grantcoin Foundation. So it's a way to incentivize businesses to accept the currency as a payment option, and to incentivize customers to pay with it.

Having said that, Grantcoin is in the process of going through a transition in strategy. We've recently decided to focus first on gaining users of Grantcoin in the charity sector. Once there are a lot of people using it as a way to give to charities on social media, then we will begin our outreach to businesses, because businesses will be more likely to accept the currency if there are already plenty of users. We think charities will be more willing to accept it at the beginning, because charities can receive donations of Grantcoin on Twitter without having to do anything. With businesses, there is the added requirement that the business implement a plugin to accept cryptocurrency in their e-commerce platform. So the charities may find it easier to embrace Grantcoin, and are therefore the first audience we will promote it to; then the businesses will come next.

The emphasis of the way we pitch Grantcoin will also be changed somewhat to reflect the focus on acquiring users in the charity sector. Significant marketing will be invested into reaching out to charities with our targeted pitch. Fortunately, Grantcoin has always had a focus on the philosophy of social and environmental responsibility, which fits well with a huge number of charities.