What Is Vantage Token?
Vantage Token is a new technology that was created specially to enable people to track their donations to nonprofit companies. It is a widely known truth that people are afraid to donate to nonprofit companies because they do not know how their money will be spent, so the company has devised a solution that can be used to increase the benefits for both sides.
By using the blockchain technology, Vantage Token will be able to track exactly how your donation was used in the company. This means that you will have total transparency when giving money. You can track the money that you gave these companies as if you were tracking a shipment.
The company states that many experts state that people donate about 60% more money when they can really see how their cash was used, so transparency can definitely be a great way to make more money with donations.
With the help of the technology, Vantage Token can create what it calls a “win-win-win situation”, because people in need get what they need, the nonprofits get more money to do more good to people and the contributors can see the impact of their actions more clearly.
The company even states that nonprofits are just the beginning because the platform will be easily scalable and can be used in other types of companies in the future, like venture capital firms, political campaigns and educational fundraisers.
How Vantage Token Blockchain Giving Contribution Tracking Works
By using all the potential of the blockchain technology, Vantage Token is able to track donations. You just make the donation via your credit card to a nonprofit organization and you will receive a tracking ID. After the organization receives the donation, you can easily track it and see what is being bought with it. The technology used by the company is powered by the NEM blockchain.
The process is easy and even people who are not specially blockchain experts can use it to track the donations because the interface is very simple and easy to use.
The Vantage Token platform will start to work at the end of 2018 and a mobile app will be launched at the beginning of the following year.
Vantage Token XVT Coin ICO Details
The XVT tokens will be the main component of the company because the donations will be converted to them before the companies receive them. The company is currently having its private sale but the main sale will be open from August 1 until the end of the month.
The minimum contribution will be 0.05 ETH and there will be 70,000,000 XVT tokens for sale on the public sale. The hard cap is 35,000 ETH and 1 ETH will buy 2,000 XVT tokens. The discount on the first week will be 20%, then 10% in the second one and 5% on the third. 45% of the funds will be used on development, 25% on sales and marketing and the rest in operational, legal costs and cash reserves.
Notice that the XVT token sale is not open to users from the United States, Canada, China and all other countries that have banned ICOS and a Know Your Customer process will be made to ensure that people from these countries will not buy the XVT tokens.
Who Is Behind Vantage Token?
The three co-founders of the Vantage Token are Jared Dorminey, Jeff Hood and Jason C. Aufdermaur. The board of directors of the company is made of David Drake, William “Bill” David III, Allan Young, Keith Kaplan and Leon Kopyt.
Some other key members of the Vantage Token organization are Mayur Moudhgalya (blockchain architect), Raghuram Bala (blockchain architect), Zac Fitzner (blockchain expert), Jay Robbins (global director of finance), C. Dan Wyatt III (legal counsel), Anupam Varshney (Public Relations), Mike Anderson (nonprofit partner manager) and Patrick Rosenberger (infrastructure manager).
Other members include Juli Morris (strategic marketing), Caroline Johnson (social media director), Mickey Cohen (brand manager), Naoya Wada (UX/UI), Stephanie Melstrom (project manager), Lisa Katz (testing) and Adamth Ulla Kallura (web and mobile lead).
The partners of the company are LDJ Capital, The Soho Loft Media Group, Cryptocurrency Lab, Headsail Consortium and Crowdcreate.
Vantage Token Conclusion
With the development of technology, there is no reason to keep some things like how donations are spent in the dark. Because of this, companies like Vantage Token represent an important step towards more transparency and accountability of companies like nonprofits.