BeKind, a Specialized Blockchain Project Revolutionizing the Donation Ecosystem
Indonesia is known as the most generous country in the world according to the 2021 World Giving Index (WGI) released by the Charities Aid Foundation (CAF). Indonesia is in 1stplace with a score of 69%.
According to the report, Indonesia ranks in the top two of the three indicators that WGI measures, namely donating to strangers, donating money, and volunteering.
This achievement is very good, but it turns out that the donation ecosystem does not yet have a mature standardization.
There are two issues that are still a problem, namely the standardization of funds quoted by charities and how to keep charitable institutions sustainable. This background is the reason for the birth of BeKind, who is only the age of corn, in April 2021.
BeKind is the first blockchain project in Indonesia to develop a robust and scalable, evidence-based social impact/donation ecosystem through a transparent digital platform.
Currently, BeKind is focusing on building partnerships with various parties, such as Tokocrypto and the WeCare.id fundraising platform, as well as other partners. This platform was pioneered by a team experienced in the world of donations and blockchain, one of which is Fajar Jasmin (CEO).
Some of the Issues Faced by the Company
In an interview, Fajar explained on the first issue, that globally there is no standardization of how much a charity should be able to quote from each fundraising.
As a result, there are those who quote (take commissions) in large percentages and some are small. According to him, quoting is allowed because it takes human labor costs to connect the good intentions of the donor to the recipient of the donor.
From the first issue, it continues to the second issue, related to sustainability. Because there are institutions that quote a small percentage, they have issues about how to survive because there is no emergency fund.
According to the Ministry of Social Affairs, charities are not allowed to keep the profits obtained after distributing aid to donor recipients. BeKind wants to solve these two issues through blockchain, which has been gaining good momentum since last year.
In fact, according to Fajar, the presence of blockchain has revolutionized the donation ecosystem so that it becomes more transparent because everything can be seen in real-time history from the beginning of the donation until it reaches the donor-recipient. At least that’s BeKind’s big ambition.
“We will continue to limit important identities, be it location, photos, which can be accessed. We hope that we want to create a more balanced charity ecosystem, there is a way out with blockchain and its derivative products that can help overcome sustainability issues.”
BeKind’s Plans for the Future
BeKind’s first product is the BeKind Token (BKND) as a digital currency that can be used to donate through the platform. These tokens can be traded later on the Tokocrypto platform.
As is known, BeKind is currently the first startup to collaborate with Tokocrypto in the TokoLaunchpad accelerator program.
This opportunity opens BeKind to take further advantage of blockchain and crypto technology so that the future utility of BKND can be more beneficial to its holders.
BeKind works with the Binance Smart Chain protocol which is a blockchain project made by Binance that goes hand in hand with their other technology, called Binance Chain.
Thus, BeKind can take advantage of many of its derivative applications, one of which is decentralized finance (DeFi). Fajar said, DeFi can solve the sustainability issue that has been a barrier for many charities because it gets passive income.
Meanwhile, the BKND token has been opened for the Pre-IEO (Initial Exchange Offering) process before it will be officially listed on the Tokocrypto platform which is planned to be held at the end of this year.
Tokocrypto will be an exchange platform that accepts BKND transactions, both when they want to donate and when donor recipients want to cash out the donations they receive.