About Swachhcoin Foundation

The Swachhcoin Foundation is a not-for-profit organisation that has as its purpose the introduction and development of a new mindset and attitude towards waste management activities among individuals and institutions. The Foundation seeks to function as a service provider as well as a developer of technological innovations that increase the efficiency and capability of the waste management industries globally. It intends to get these done by providing industries with technologies that will help them efficiently handle the looming waste management issues posing threats to the world at the moment.

In essence, the Foundation aims to bring about the transformation of waste products into useful products that have high economic value in different sectors such as the energy sector, by making use of modern and advanced technologies.

Philanthropic Objectives of Swachhcoin Foundation

The Swachhcoin Foundation has one principal purpose: to serve humanity and ultimately make the world a better place for everyone. For this reason, Swachhcoin Foundation will not just stop at its waste management activities, but will also go a step further by incorporating outright philanthropic activities as a part of its overall project.

Bearing it in mind that Swachhcoin operates an organisation which is not geared toward profit-making, its whitepaper expressly indicates that all the profit accruing to the organisation will go to specific NGOs for social welfare functions. The community users get to select the beneficiary NGOs through a transparently conducted voting process on the Swachh DApp.

The voting process will be fully autonomous in order to avoid any speculation of bias or corrupt practices and to also get the users fully involved in the decision-making process. The Foundation runs a fully transparent system on the blockchain technology, and this eliminates the likelihood of the fund being diverted to purposes inconsistent with the original purpose for which it was intended — a corrupt practice common to the traditional fund disbursement process of traditional industries and even governments globally.

It is worthy to note at this point that the Swachhcoin platform has two primary and consistent revenue sources, including 1.5% of the reward given to the domestic household generators by the waste processing body and also 4% of the amount paid by those who hold tokens for content advertisement on SwBIN. These two are among other revenue generation models to be subsequently introduced.

Swachhcoin Foundation’s ability to generate revenue in a manner which is more comprehensive and consistent than what currently operates in the waste management industry provides it with resources to further contribute to the improvement of the quality of life of individuals who are at a financial disadvantage, particularly those who have links with the waste management industry.

Thus, as indicated in the Swachhcoin whitepaper, 0.3% of the total contributions gotten in the crowdsale would be donated to different waste management related NGOs. In addition, all the revenue gotten from the rewards given to the household generators and advertisement on SwBIN will be used for running the daily activities of the foundation and the rest will be donated to these organisations. The details of the NGOs will be updated on the platform’s website from time to time, and some of their details will be verifiable on the blockchain.

In conclusion, Swachhcoin is here not only to make a positive change in the waste management industry, but to also make the world a better place for everyone through its philanthropic activities.