Reddcoin - the social currency - for charity?

Hi everyone!

I was thinking of charitable things for the social currency to do, and I thought of Dogecoin sponsoring Nascar. Maybe we should sponsor something too as a community but more focused on improving peoples lives.

The overall idea
I then thought why not sponsor children around the world, by simply creating a pool of money and send it in direction of children in need. It would be easy to facilitate through cryptocurrency, because we could simply by one click send the amount we wish for to a money pool and then spend it. This would help the communty to achieve a sense of purpose and feel good about spending time with the coin and at the same time help people.

What I can do/What I think we need
Personally this would be something I would be inclined to spend something like 20-30 dollars worth of reddcoin a month on and if enough share what they can (maybe a percentage of their minted coins each month?) I think we could actually generate a larger sum of money for people who for sure are in need.

Now I do not want to have the responsibility of coming up with a solution for protecting people from getting scammed or programming the money pool to child in need website or whatever, this is not within my skill range. But I will definately happely write stories about every donation made by the community on this website and thereby help it grow with a strong sense of purpose. If anyone is up for making a website and maybe trying to come up with a decentralised blockchain solution for handling the money between donation, I dont know what I am talking about, but then please share your ideas and skills :slight_smile: !

The morality of the idea
Furthermore I think it is important to discuss the moral implications of using people in need to feel good about a money system and if this is something we even want Reddcoin to be associated with. Personally I obviously think it is a good idea but will be happy to be proven wrong! My main argument is: it benefits the community with a sense of purpose and unity about something good. And it helps individuals around the world in a very concrete way which I think it what being social is about.

Further thoughts
Other ideas a long the same lines. We could maybe even make different pools like: support a child, support an artist where artist can share their story and we maybe can help them buying materials for projects and so on. The opportunities for taking social responsibility seem endless, again I think charity to someone in serious need of money is a great place to start because most can agree this is a good thing to do.

Redd I think this is a great idea.

Do you think you could head this project up Redd ? It’s going to take a fair bit of organisation.

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reddibrek Yes if people are up for it I would love to organise it! Glad you like the idea :slight_smile:

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If you need a hand redd … :wave:

I really like the idea of helping artists/musicians and other talented people out, by means of a big donation.

Charities can be a bit of a funny one, as a lot tend to keep a lot of the donations for other things, and the monies don’t always go where they should be.

This is where the auto donate function within reddcoin could be ace.

I can help with programming the pool or what else that needs to be programmed.

My skils:

I’m a web / backend developer, mostly in PHP, but can do other langs as well. I have strong knowledge about crypto payment systems, security and much more.

I’m not sure how we could do the ‘trying to come up with a decentralised blockchain solution for handling the money between donation’, but it is doable.

We could use multisig, so only the most trusted people @ reddcoin can spend them.
Or Reddcoin ltf could maybe handle some of it?

How about a multi-sig solution whereby everyone who’s donated can sign the release of the funds to said charities? So if 10 people donated, at the end of every month, something (the app/program/wallet) would initialize a payment to whatever address the funds were going to for that month (so, one month maybe sending funds to the Cystic Fibrosis foundation, the next month to Kid’s Cancer research center, etc), everyone would get a message in their wallet to sign, and when everyone signed it, the funds would be released.

There could also be a part of the application that had addresses that users could vote on and the winner would be used for that month’s charity.

bmp02050 I like your idea, but might cause a few problems, if anyone that has donated has to release funds,

Some people forget, some doesn’t care after the donation, and so on.

Multisig can be the way, but maybe instead with the idea above.

I like the idea of multi sig, but not everyone who donated just 3 prominent figures in the reddcoin community should suffice

thats an awesome idea

Convertor This is true, some just give and forget. Not to be confused with FORgive and forget. Either having part of Reddcoin LTD or set up something like ReddCharity where the users involved have detailed knowledge of the owners/operators that can release the funds would make for a transparent and trusted foundation.