OWN Token — Proof of Charity (POC)

4 min readApr 23, 2020

The word crypto-philanthropy has been the recent trend. It literally means the use of blockchain technology to facilitate charitable contributions. Everyone is interested in donating funds to the nonprofitable organizations or charity. But the Charitable organizations in the real-world often encounter barriers to success due to lack of transparency, accountability issues, and limits to the ways they can accept donations. The use of cryptocurrency for donation offers an alternative solution, with decentralized and direct transactions that may help these non-profit organizations receive donations and raise funds more efficiently.

OWN Token is one such cryptocurrency pioneering the usage of blockchain technology and smart contracts for a noble cause. Own tokens use Ethereum blockchain. Ethereum blockchain is used as a distributed ledger, and the advantages provided by this unique technology are serving several philanthropy organizations and charity foundations.

Many people in the crypto industry got rich over the recent years. We think many of them would like to share their prosperity with those in need.Our goal is to create an easy and trustless crypto-based way to donate charities. We want to create a solution that will be of use anytime someone in crypto space feels like to make an impact.

OWN Token is a universal way to do something good to others. We don’t want to make donators think which organisation they are supposed to support. We want to make them sure that their assets are spent for a good cause and make a positive impact on our society.Our final vision is to create an always on-going IEO for OWN Token. The token will be supported by a decentralized governance mechanism. It will allow token holders to decide which organisation should be supported with collected funds. We invite the entire crypto community to a discussion on this governance mechanism and designing its framework.

There is still a long way to go until cryptocurrencies get globally adopted, and this route is particularly long when it comes to charity. Currently, there is a small but growing number of charitable organizations that have already embraced cryptocurrency as a donation method. So people who are interested in donations can buy Own tokens through the crypto exchange platforms. The own token team has made it easy for the people by listing own tokens in one of the top 10-crypto exchanges. That obviously enhances the trust that a buyer can have on his crypto asset.

Own tokens make the donation process so transparent. You will be accounted for every single penny you donated. The blockchain technology has the potential to simplify the way charities are managed, automating parts of the process, and reducing the overall costs by requiring fewer intermediaries. Each own token transaction is unique, which means that it is also easily tracked through the Ethereum blockchain. The higher level of transparency and public accountability can ease donors’ minds and encourage them to give while also reinforcing the charity’s reputation for integrity. Ethereum blockchain networks present high levels of decentralization, meaning that they do not need to rely on a centralized government or other institutions. Thus, funds can move directly from donors to charities, and the decentralized nature of blockchain makes it uniquely suitable for international transactions. The Ethereum blockchain makes it easier to share and store digital data and may also be used to ensure that important documents or contracts cannot be modified without the approval of all involved members.

“Why should I use crypto instead of fiat currencies?” Has always been the doubt in the minds of donors. If a contribution is made with Bitcoin, the charity will get the full donated value (no capital gain taxes). Moreover, the donor would be able to claim a higher tax deduction towards governmental agencies.

Own Token remains a relatively new means of giving, accepting, and distributing donations. But as the blockchain technology grows more widespread and familiar, charities and donors alike may come to embrace it as one more attractive way to help those in need. It seems only sensible to assume that as the public continues to adopt this form of giving, charitable organizations will ramp up their cryptocurrency operations.

INFO of OWN Token —

Token Name : OWN Token

Symbol : OWN

Blockchain : Ethereum

Total Supply : 7,000,000,000

Contract : 0xcc6f15be8573cb8243c42d300565566d328213dd

Website : http://owntoken.xyz 2

Whitepaper — https://owntoken.xyz/index.php/whitepaper/

CoinGecko : https://www.coingecko.com/en/coins/own-token

Twitter : https://twitter.com/OwnToken

Telegram : https://t.me/tokenOWN

DEX Listing — https://www.saturn.network/exchange/ETH/order-book/0xcc6f15be8573cb8243c42d300565566d328213dd 1