Often, in the pursuit of profit and money, the less fortunate are forgotten. In the world of crypto-currency the lack or even the non-existence of charity is telling – CCCoin is created to change that scenario.
CCCoin, or Conscious Capitalism Coin is built on keeping the less fortunate in mind. Currency transactions involve little effort on behalf of the two parties making the exchange. Therefor CCCoin wants to answer a self-formed question engendered from the transaction – how if a system is created whereby it has the potential to be beneficial to those who are not fortunate enough to have their necessities fulfilled? As the answer, a Decentralized Application built using the Ethereum Blockchain Platform which is, helping to make the world a better place, CCCoin.
The tagline of CCCoin, ‘Saving the World One Currency Transaction at a Time,’- can’t be more apt.
The mechanisms of CCCoin are based on very simple finance principles – 45,000 CCCoins are created each month then deposited into the CCCoin wallet. – CCCoin is not mined, the creation of new coins happens through this consistent monthly distribution.
Proceeding, CCCoin sells those coins on the crypto-currency exchanges. This generates “X” amount of capital every month.
Seventy five percent of the capital created is then donated to noteworthy charities with diverse helping hand intents and beneficiaries such as The Gates Foundation, Salvation Army, America Cancer Society, UNICEF, The Nature Conservancy and March of Dimes, to name a few – CCCoin has up to fifty charities in its target list. The remaining twenty five percent is used to pay business expenses and reinvest back into the business.
How are charities chosen? – This is where the Blockchain comes into effect. When the one buys a CCCoin they are buying the right to participate in ‘charity voting’ where they can vote for their favorite charity. As a vote holder, they get to decide which charity they want the money to go. Essentially the CCCoin is the utility that is used to cast a vote on the charity of choice.
To ensure that the money donated from CCCoin-Team is used ethically, efficiently and intelligently, CCCoin embarks on rigorous follow up on all the donations made. The CCCoin-Team has members with both Humanitarian Aid & Business experience on staff. Transparency is paramount for CCCoin – on their website, open records on all the
Transparency is key to a business geared towards helping humanity – That is why CCCoin has a complete open record of all Charitable Donations on their website along with all list of all the votes that took place. This allows anyone to go back and see the results of all activity(s) that have taken place in the entire history of the CCCoin existence.
Note 1: There is a max limit of CCCoins that will ever be created of 21,000,000 much like bitcoin. – that amount is 45,000 per month & 540,000 per year. The CCCoin generation / distribution process should take approximately 35years.
540,000 x (“X” Number of Years) + 2,500,000 = # of CCCoins in Existence
Note 2: CCCoin is currently taking 25% for business expenses – after ICO they plan to decrease that to 15%. Just like any business they incurred “one time” expenses during the development process that should factor going forward.
SrA Lucas Coffey is the founder and CEO of CCCoin L.L.C. He has a military background with the Air National Guard and studied Aviation at Eastern Kentucky University, Coffey’s military career was spent primarily serving humanitarian aid missions during Operation Iraqi Freedom before an injury cut his aviation career short.
Coffey then got his Business Administration Degree while also learning to code. This is when he discovered Blockchain Technology and started building a business plan for a CCCoin that could increase charitable giving.
When asked about CCCoin’s vision, Coffey said,
“I would hope CCCoin is accepted with open arms – we are genuinely trying to do the right thing by transferring capital to those who need it most. I truly believe we should be a top 3 market cap crypto-currency and accepted by a number of online retailers in less than 5 years. If I can make people see my vision it could be transformative for the world. The reason I say that is because we serve as a means of exchange just like all the other cryptocurrencies of them but what other Crypto-Currency adds the Social Value that we do?….”
CCCoin is looking to ICO at CCCoin.io on Aug, 21st, 2017. It will also be able to be purchased using ticker: “CCC.”
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