The Grantcoin Foundation
A Good Foundation for Better Money
The Grantcoin Foundation is a charitable and educational nonprofit organization which was legally incorporated as an exempt non-stock corporation in the State of Delaware, USA, in March 2015. Our organization is officially recognized by the IRS as a 501(c)(3) tax-exempt public charity.
The Grantcoin Foundation was founded by three socially conscious executives with diverse experience including in nonprofit management, project management, entrepreneurship and startups, religious ministry, and the emerging field of alternative digital currency.
The main activities of the Grantcoin Foundation are:
- Charitable — We give grants in the form of an e-currency called Grantcoin to people all over the world who participate in our Universal Basic Income program.
- Educational — We raise awareness about the history of money and finance and the moral issues and negative consequences associated with the current for-profit monetary system, and explain the benefits of a non-profit, non-governmental alternative.
History of the Grantcoin Foundation
Eric Stetson first got the idea for Grantcoin in late 2013 and began discussing it with friends and activists for social justice and economic reform. Over the course of a year he refined the idea based on conversations with thoughtful people with various points of view on how to use alternative currency to make the world a better place.
In early 2014 Eric went to work for an existing cryptocurrency project based on the technology of Bitcoin and gained in-depth knowledge and hands-on experience in the field. He met Brandon Venetta at a Bitcoin conference later that year, and Brandon expressed his passionate support for the idea of a new currency designed to help provide economic opportunity and empowerment for people in the developing world. Eric and Brandon decided to team up to make Grantcoin a reality.
Jon Frechin, a successful serial entrepreneur with a passion for socially and environmentally responsible business, soon joined the team, and the three co-founders moved forward to build Grantcoin into the first cryptocurrency managed by a nonprofit organization with a mission to create a more egalitarian, democratic, and sustainable global economy.
In 2015 and early 2016, the Grantcoin Foundation experimented with several types of grant programs for social good. Starting on May 1, 2016 — one year after Grantcoin was first launched to the public — we decided to focus entirely on providing a Universal Basic Income through the distribution of our currency. Grantcoin is the first currency, to our knowledge, ever to be distributed into circulation according to this revolutionary principle — building a Basic Income directly into a monetary system by granting units of currency to any human being who wishes to participate.
Resources for Study
The Grantcoin Foundation is a legally legitimate, transparently run nonprofit following organizational best practices in all respects. The Grantcoin team invites you to study the following resources to gain a detailed understanding of our organization, its structure, policies, and activities:
- Governance and Disclosures — Includes links to a variety of documents in which important facts and activities of the Foundation are transparently disclosed, such as our Bylaws, Policy, and record of currency distribution.
- Case for Support — 18 pages (.pdf), published December 2016.
- Local Groups — We envision a network of affiliated chapters of the Grantcoin Foundation in communities around the world, to decentralize the process of verifying grant recipients and distributing the currency, and to encourage acceptance and use of Grantcoin by local businesses and organizations.