The crypto industry sees exciting collaborations and innovations almost every day. One such new partnership was announced yesterday between Binance Chain and RocketBC through the latter’s official Twitter handle. With this partnership, RocketBC intends to innovate a ‘giving’ and resilient ecosystem.
In addition, GIVLY Coin, which is the product of RocketBC, will also be issued in BEP-2, read the Twitter announcement. The issuance of GIVLY Coin on the Binance Chain would further maximize the platform’s transparency as well as accountability.
To provide insights on their new collaboration, RocketBC also put up a detailed post on Medium dated 27th May 2019.
What Is GIVLY?
Advertisement
It is a social platform for funding that is powered by blockchain technology. It concentrates on reinventing the ecosystem of charity by increasing transparency and accountability in the space of social aid.
The primary aim of this blockchain-backed funding platform is to lower the inefficiencies as well as fees present in the traditional charity arena through a powerful decentralized system. Along with that, GIVLY also eyes on maximizing the planned benefit while giving the donor clear visibility of the social impact their contributions make.
Elaborating further, the post suggested that though there are many individuals actively involved in philanthropy, the system has faults in delivering the good intentions out into our society. As per the annual philanthropy data released by Giving USA 2018, a total of 286.65 billion dollars were received through individuals; that’s nearly 70% of all the giving sources. These records clearly indicate how the number of individual donors has been increasing with time.
How GIVLY Solves the Problem
GIVLY is designed to solve the fundamental problem of transparency found in the social platforms for funding. In GIVLY ecosystem, donors, proposers, beneficiaries, and workers can financially communicate with significantly greater transparency, speed, and reduced fees. In fact, GIVLY also allows workers and donors to vote and track for proposal validation throughout the procedure.
Advertisement
‘GIV’ will be the official token for all GIVLY activities. As Binance Chain will issue the GIVLY Coin, there will be increased visibility in the operations of project groups. The Coin is slated to be issued on the Binance Chain on 3rd June.
