CCCoin Network is the first of 2 projects by the CCCoin Team, it is an ERC20crypto-token built on the Ethereum blockchain that is used to raise capital for charitable contributions in a very unique way. Here is a basic step by step overview:
The mechanics of CCCoin are based on very simple finance principles – 50,000 CCCoins are created each month then deposited into the CCCoin.Network wallet. – CCCoin is not mined, the creation of new coins happens through a consistent monthly distribution.
Proceeding, CCCoin sells those coins on the crypto-currency exchanges. This generates “X” amount of capital every month.
At least 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, UNICEF, The Nature Conservancy and March of Dimes, to name a few – CCCoin has over fifty charities on its 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 someone 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 key to abusiness 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.
So essentially the CCCoin.Network website is just a platform that allows the Democratic – Transparent vote to take place and the CCCoin-Team are just actors performing the results of the vote for the CCCoin holders.
“The Most Innovative and Socially Conscious Currency Ever”
Note 1: There is a max limit of CCCoins that will ever be created of 12,000,000 almost half of Bitcoin. – that amount is 50,000 per month & 600,000 per year. The CCCoin generation / distribution process should take approximately 15years.
600,000 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.
CCCoin Network is essentially the CCCoin-Team’s way of giving back, similar to a foundation. In the meantime, the CCCoin-Team is working on a larger ecommerce project that will also be compatible with these same CCCoin’s that is very vague on details but essentially it sounds like a combination of Fiverr / Upwork&Udemy / Coursera.
As mentioned CCCoin is looking to ICO at CCCoin.io on Aug, 21st, 2017. The ICO will last approximately 90 days or approximately 25,000 ether.
CCCoins will also be available to be purchased using ticker: “CCC” on the exchanges soon after the ICO. Keep in mind that CCCoin is not an investment it is a charitable project. You should not purchase the “CCC” token for any reason but to cast a vote on monthly exchange sale.