The blockchain ecosystem is currently home to many different projects that are aiming to streamline and innovate in the business world, but to date there have been very few projects that attempt to use blockchain technology to affect real-world change in a humanitarian sense.
The cryptocurrency model is an ideal method of capital generation for not for profit organizations, as the low transaction fees and highly liquid nature they offer allow these organizations to minimize operational costs and distribute funds to where they are most needed.
CoExistCoin is a new charitable platform that is aiming to leverage blockchain technology in order to empower the less fortunate. Offering a decentralized token that is run on the Waves blockchain, CoExistCoin is a relatively simple blockchain platform that is currently operating a number of humanitarian projects internationally.
The CoExistCoin platform is currently running an “initial coin offering”, but as there doesn’t appear to be any time limit on the period in which CoExistCoin tokens can be purchased, it’s essentially a method of using cryptocurrency to donate to humanitarian endeavors.
In this article, we’ll take a look at the CoExistCoin platform and learn about the projects they are currently working on to help you determine whether it’s worth donating to.
What Is CoExistCoin?
The CoExistCoin platform is focused on eliminating the overheads that plague many charitable organizations. In many cases, charitable organizations are so impeded by overheads that less than 10% of donated funds actually make it to individuals in need.
The CoExistCoin platform, however, makes it possible for every single cent that is donated to be traced. 90% of all the funds that are donated to the CoExistCoin platform are allocated toward program activities, with just 10% reserved for support services and fundraising.
CoExistCoin can be donated to using the Waves platform. In order to donate to CoExistCoin, users need to download the Waves wallet, which is available for Android and iOS. It’s also possible to establish a Waves wallet through an online wallet, or via the WavesGUI.
Current CoExistCoin Campaigns
At this point in time, CoExistCoin is currently running three separate programs. The first program is a computer coding class in Zimbabwe. CoExistCoin is currently undergoing a research and assessment stage in an attempt to iron out the logistics of developing a computer class in developing communities that possess schooling infrastructure.
The funds generated by CoExistCoin will be used to supply all of the equipment required for the program, as well as hire teachers and provide them with room and board. The overall goal of this program is to teach students in developing regions coding and web design skills, which will empower them with the opportunity to enter the growing online job market.
The second program offered by the CoExistCoin platform is a clean drinking and sanitation water crusade. Since launch in 2015, CoExistCoin has been focused on bringing clean drinking water and sanitation to regions that need it most.
Today, more than 1 in 10 people have no access to a toilet, a fact that CoExistCoin wants to change. CoExistCoin is currently planning a mission to Zimbabwe in which an expert team will assess situations in which they will be able to assist with the creation of clean drinking water sources.
On this endeavor, CoExistCoin will provide communities in need with Lifestraw products, which will give them the ability to generate potable water while a more permanent communal situation is developed.
Lastly, CoExistCoin is planning on creating a natural disaster relief fund. CoExistCoin’s disaster relief fund will aim to supply emergency food and water, build or provide temporary shelters, send emergency medical supplies, organize treatment for injuries, provide basic sanitation needs, and replace both school supplies and household items.
While the CoExistCoin platform is commendable, it does raise a number of red flags- firstly, there is no information regarding the authors of the platform, and no publicly available information on the people behind it. It’s also important to remember that CoExistCoin has not yet embarked upon any charitable endeavors, and instead is waiting on funds to be collected before starting.
There is, however, a serious need for charitable endeavors in the blockchain community, and it’s possible that CoExistCoin simply required more funds before it can provide more information regarding the structure of their organization. For the time being, if you’re interested in providing a humanitarian agency with the ability to assist individuals in developing regions, it’s worth considering donating.