What is Grantcoin?
Grantcoin is digital currency.
Grantcoin is a digital token or e-currency based on the revolutionary technology of Bitcoin. Like Bitcoin and other cryptocurrencies, Grantcoin can be securely stored in digital wallets on a computer or smartphone or on the web. Transactions are automatically processed by the peer-to-peer network of users and recorded in a public ledger. Grantcoin users can send transactions anywhere in the world within minutes for an extremely low fee — much lower than credit cards, bank transfers, or PayPal.
Grantcoin is non-profit — philanthropy-based money.
Grantcoin is the first digital currency to be managed and distributed by a 501(c)(3) tax-exempt public charity, according to the charitable mission and high standards of ethics and transparency required for such favorable tax status in the United States.
Most currencies today are issued into circulation as loans by for-profit banks. These debt-based currencies such as the U.S. dollar, the euro, and others, are distributed based on the desire of banks to make as much profit as possible by charging interest to debtors. This type of monetary system incentivizes private profit above all other considerations. Banks often find that they can make more profit by providing capital to the already wealthy rather than less fortunate people, and to companies which exploit their workers and the environment without regard for sustainability and human wellbeing.
Grantcoin is different. Grantcoin is based on the idea that money should enter circulation as philanthropic grants to support businesses and organizations that are responsibly balancing the profit motive with the needs of people and the planet. Grantcoin digital currency is distributed by a non-profit organization, the Grantcoin Foundation, to fulfill these values of economic and environmental sustainability.
Grantcoin is global and fairly distributed.
Grantcoin can be traded with a broad spectrum of major currencies on online exchanges such as Ripple Trade. Anyone who uses dollars, euros, yen, or one of several other currencies can easily buy or sell Grantcoin at any time.
The Grantcoin Foundation is a United States-based organization that aspires to become an international NGO. Grantcoin will be granted to recipients around the world according to a detailed distribution plan. 40% of the Grantcoin currency reserve is allocated to grants within nations, communities, and regions of the world based strictly on population, to help create a more fair distribution of wealth.
Grantcoin is local and decentralized.
Grantcoin will be distributed within each community by the people who live there and support the Grantcoin project. People will come together in cities, towns, and villages to form local chapters of the Grantcoin Foundation called Grantbanks, which will consider grant applications from businesses and organizations that serve their community. The Grantbank system will help promote sustainable economic development and revitalization of local economies.
Grantcoin is democratic — powered by the people.
At the local, national, and international levels, all Grantcoin institutions will be governed democratically by people who choose to get involved. Unlike bank-issued government-backed fiat currencies (dollars, euros, etc.), control of the Grantcoin monetary system is directly in the hands of the people, instead of for-profit moneylending corporations and unelected central banks such as the Federal Reserve.
Grantcoin is sustainable — socially and environmentally responsible.
According to the Grantcoin Foundation Mission Statement and governing documents, only companies and organizations that can demonstrate convincing evidence that they are following socially and environmentally responsible practices will be eligible for grants of Grantcoin.
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