On April 26th, the world’s first NGO smart contract based on ETH ERC20, NGO token (NGOT), was formally listed on TOPBTC Exchange, It will solve the core difficult issues of difficult fundraising, loose organization and low transparency currently facing NGOs and bring about historical changes to the development of NGOs.
1. Helps NGOs to “virtual listing”, cash in their value and solve fund-raising difficulties
Based on the NGOT Protocol, NGOs can issue a limited quantity of digital token of their own, and users can pay membership fees, offer sponsorships or make donations by purchasing digital token, thus realizing “virtual listing” and establishing their exclusive “financial system”.
2. Conveys the value of NGOs and deepens the member/NGO relationship into symbiosis
Through the NGOT management platform, in addition to the endorsement between members and organizations, it also gives identity to member investors, so that each member holding a digital token becomes a shareholder and therefore cares more about the development of the organization.
3. “Decentralization” opens up an all-round open and transparent model
Based on the NGOT Protocol, the NGO policies, accounts, members’ contributions, activities are recorded in the blockchain which is tamper proof. This ultimately achieves transparency in the management, finance, values and elections of an NGO.