Expert Coin

Analysis of ICO BCharity

10.05.2018

Product

BCharity is a social enterprise for everyone. It is also a first global charity exchange that uses blockchain technology to solve issues of charity industry. Via BCharity exchange everyone can donate money or time either on micro or macro scale. The platform will bring together charitable organizations and those in need by:

  • Establishing a cryptocurrency based exchange to facilitate purchases of it own utility token (CHAR) with fiat and other cryptocurrencies
  • Developing a social network interface to allow charitable organizations and individuals to present their story and/or need. This interface will be place on top of the exchange
  • Offering BCharity Translate service to translate text into English for those who seek global exposure, but only know their native language. This service will also reward proactive individuals helping those in need.

An MVP will be presented in June 2018.   

Business Plan

The BCharity platform is a global network of organizations and individuals who utilize the newest asset class to ensure maximum donation effectiveness. Blockchain technology will help to transform traditional charity systems. This will be achieved via Consensus Threshold that ensures trust and transparency while addressing AML activity through the use of proprietary technology based on smart contract protocols. BCharity model is based on active partnerships with charities on a global scale. Connectivity will be done with minimal expense. The only condition for entering the BCharity exchange is the provision of confirmation documents to ensure legality and validity of organization/fund.

The platform will offer two ways to receive donations:

  • Withdrawal of funds from the platform
  • Transfer of donations to verified bank accounts (this method will include a commission for banking services).

BCharity token - CHAR - is a utility token which follows the deflation model. It won’t be possible to conduct any operation on the platform without the token. BCharity will charge a fee for each transaction.       

Marketing Strategy

There is a brief outline of marketing plan in the product roadmap. Launch of PR campaign during a Private Sale in March 2018. Marketing and PR campaigns, brand awareness during presentation of the full version of the product in Q4 2018. The team is active on social media platforms, especially on Telegram, where both group and chat have high numbers of followers. Bounty campaign and affiliation program are active at the moment (the project is currently on private sale stage).

Team

Team members have experience in the following fields: technology, programming, management, IT consulting, philanthropy, volunteering, communications, entrepreneurship and design. International advisors provide expertise in investing, blockchain, legislation (including ICO), marketing, sales management.

The Vision of the Market

The project targets charity market and current donation systems. The WP lists the following problems of philanthropy:

  • No single global place/hub/point of direct connection between donating organizations/individuals and those in need
  • Language barriers
  • Non-equal dispersity of charity organizations around the world; some regions don’t have access to funds
  • Significant gap between charity industry and technology (including blockchain and cryptocurrency)
  • Lack of trust in charity organizations
  • Medium and small charitable organizations don’t have financial support and network to promote their services.

BCharity as a social enterprise and an exchange platform offer solutions addressing these real-life issues.

Understanding of the Target Audience

BCharity targets charitable funds/organizations/private funds/philanthropists and all those in need (social organizations and individuals). Further segmentation of those in need: victims of natural disasters, victims of armed conflicts, patients in need of expensive treatments, religious organizations, social programs, organizations rescuing and supporting animals, projects supporting art and culture, educational projects.

Competitive Advantage

There is no competitor analysis in the WP. Although charity industry is not known for quick adoption of advances technology, there are blockchain-based projects in the market, like CharityStars and BitHope. There are also a number of social purposes digital coins like Clean Water Coin and Pinkcoin. Therefore, it is necessary to conduct a competitor analysis to demonstrate competitive advantages of the project, according to analysts from expert-coin rating.   

Summary

Strengths: Howey test. Scalable roadmap. Clear vision of the market and opportunity within it. The WP is translated in 10+ languages. Team members and advisors have diverse backgrounds, strong team.

Weaknesses: team members profiles should be added to the WP. There is no FAQ on the website. An MVP of the product would be better before public sale, according to analysts from expert-coin rating. There is no competitor analysis.