Ever wondered how much of your donation ends up in charity funds? Then weve got some bad and some good news.
According to various sources, about 20% (sometimes up to 30%!) of all donated funds are kept as administrative expenses by charity foundations. Although it is not the fault of some specific person or fund thats just how the whole system works, with funds having to pay rental fees and salaries to their employees you probably did not expect that to happen while making a donation.
Humancoin founders totally agree with you. Thats why the platform only keeps a 5%-fee raised from the funds collected for charity projects 4 times lower than the market average! This money will be spent on helping to develop and scale up Humancoin. We are not an intermediary; we are a convenient platform that connect donors and charitable projects directly to each other! Also, thanks to blockchain, all transfers are absolutely traceable and transparent.
Well, this is sounding like a serious statement. But to give it even more credibility you should think at an escrow or some trustless system which can secure the funds destined to charity in a way that nobody can doubt of. If you already have thought at something like that, then you should put that in big evidence.
Nobody has answered until now to this concern about the funds being administrated in a trustless way or not. In crypto-space this is an issue.