Starting last year, bitcoin and other virtual currencies have had a magnificent increase in value and popularity. The total market capitalization of the cryptocurrencies available worldwide has raised from $20 billion at the beginning of 2017 to more than $800 billion in December 2018.
While there are more than 1500 virtual currencies available at the moment, SOS coin brings something new for the non-profit organizations (NGOs) and crypto industry. The technology has advanced at an incredible pace in the last years, but our planet’s environment and our human needs, however, have started to lose in priority.
The SOS coin will be the first cryptocurrency that will help the NGOs that are addressing critical environmental and existential issues. Some of the organizations that SOS coin will back are very well known for their hard work towards keeping our planet and society safe. The SOS team and Isbasoiu Foundation have committed to donate 1% of the total market capitalization of the cryptocurrency to organizations like the World Wide Fund of Nature, United Nations of Green Peace, but also to lesser-known causes.
The SOS team Will Only Be the Gateway
The investors and the users will be able to vote on the SOS platform what organizations will receive the funds necessary for developing new research tools. In the end, this transparent method will benefit the general public.
The voting process will be transparent, and the foundation will do this at the beginning of each year for the next 15 years.
“We are on a mission to give back to society a percentage of the wealth that is being made by trading virtual products. Basically we use virtual money to make e difference in the real world” said Alexandru Isbasoiu, the co-founder and Project Lead of SOS coin.
Besides the voting system, the cryptocurrency community will have the possibility to select and qualify on their own which NGOs will go in the voting phase. The process extends from local to worldwide organizations like Greenpeace, Asian Rhino Project, Habitat for Humanity or Medecins Sans Frontiers.
The SOS coin is an ERC20 token, and it will use Ethereum’s smart contract protocol to confirm the security and scalability of each transaction. For more information about the technical ins and outs of the SOS currency, you can visit their website.
The Founders of the Project
The team that created SOS coin is Isbasoiu Foundation, based in Romania, Europe, with a history of more than seven years of supporting other non-profit organizations in achieving their goals of making the world a better place.
The people behind SOS are Alexandru Isbasoiu, a respected businessman with an impressive background in the telecommunication and IT industries and also the founder of Isbasouiu Foundation. And Mihai Mirosanu, a software engineer with more than 15 years of experience in the IT sector and a great knowledge of Solidity (Ethereum’s coding language).