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TRON blockchain suits charity purposes best, here are the reasons why

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Philanthropy in layman’s terms is being human, which leads to caring and giving to people in need. This is one of the behaviors which differentiate us from other living organisms on this planet. The urge for giving grows as we evolve and move up the maslow’s hierarchy. With the passage of time more and more people are getting involved globally in this noble cause of giving, leading to the creation of an organized sector called – CHARITY.

Approximately 1.4 billion population is contributing to charities leading to an approx fund of $1.2 trillion being raised annually globally. As per the latest statistics, Indonesia, Australia, NewZealand, USA, Ireland are the top 5 countries contributing to the philanthropy domain. The major segments in which charity is raised currently are Education, Childcare, Women protection, Healthcare, and Environment.

As with any industry Charity domain too now needs to evolve to cater to future requirements and to set up systems which help the humankind at large. Challenges which this domain faces currently are trust, transparency, reach and awareness, the speed of execution, processing and fundraising cost to name a few.

The Blockchain solution:

Blockchain technology can help legit charities overcome these problems thus contributing to enhancing the global happiness index.

Trust, transparency, and accountability: The biggest problem in the charity domain is trust as the individuals/corporations who are donating sometimes are not sure if their contribution is reaching the end user. Blockchain using its distributed ledger process ensures 100% transparency as the accounts are in public view and anyone can crosscheck the flow of funds to the last mile.

Reach and awareness: Blockchain because of its borderless feature connects the global population and allows anyone sitting even at home to connect seamlessly to the global audience thus allowing a global platform to reach out to anyone they intend to help.

The speed of execution: This is another strong value proposition Blockchain provides to Charities. In traditional mode of fundraising the banking channels consume a lot of time and fee as well, sometimes this even extends to days for international transfers. Blockchain reduces this timeframe from days to seconds and that too at a lower fee making it a win-win situation for both the donor as well as the charity.

Cost of fundraising: As per the latest statistics only approx 67% of the funds raised reaches the intended use; the rest is lost regarding fees, administration fundraising cost, etc. Blockchain can bring down this 33% substantially thus ensuring the better utility of the funds raised.

Why TRON?

TRON protocol is an emerging Blockchain solution which aims to create decentralized internet. Charities choosing to use the TRON platform would end up gaining the following benefits along with already mentioned benefits of Blockchain as mentioned in the previous segment.

Ease of Use: Creating an account on TRON platform is super easy and takes less than a minute. Also, a lot of Dapps are launching their mobile wallets thus making it very convenient to use. Charities can create accounts in less than a minute on www.troncan.org and get started, the same is applicable for any user as well who wishes to donate.

Leveraging Technology: Developers in the TRON system are continuously working to provide user-friendly solutions. They have developed bots which helps in tipping to any charity possible even on social media like telegram, twitter. Seedit, Robominer are few of the prominent bots already in use.

High Liquidity: TRON is available in 160+ trading pairs across multiple exchanges as per the latest CMC data making it practically available to everyone.

Speed: The transaction is lightning fast which means it takes just a few seconds to transfer funds across the globe. Mobile, website, social media are few platforms which can be used to complete any transaction.

Scalability: TRON platform has the capacity to process 748 TPS (transactions per second) while the current usage is approx 20-25 which gives enough space to accommodate future increase in volume and still maintain the current performance level.

Global Community: People eventually are the heart of any charity initiative, TRON with its rapidly growing community offers a huge audience spread across the globe. As per tronscan date, there are already 1.34 million accounts live with TRON and its increasing exponentially (1st million took approx six months, next 0.34 million has happened in less than a month).

Ease of Creation: TRON protocol also provides an easy to use system for any project to create a TOKEN on its platform. The cost for the same is also very nominal. This low entry barrier allows projects which have a great idea but limited resources to also get started and subsequently work hard to convert their idea into a working proposition.

There are already few charity projects which have understood this potential and have launched on TRON platform. KsumNole, Alivio, TreeOfLife are few for the noticeable projects which are already live on TRON eco-system. KsumNole among these has garnered the highest support and interest with some unique concepts to filter and identify real supporters and philanthropists.

Future

Considering the above parameters, the future looks very promising for Blockchain in Charity domain. The current penetration of Blockchain in the complete Charity eco-system is less than 1% thus there is a huge upsurge in adoption growth expected. The Millennial and GenXers are gradually increasing their contribution in charity, and they also happen to be the flag bearer of enhancing Blockchain usage.

What needs to be done now is to work hard in creating awareness and build systems which are legit, scalable and solves real-life problems. Honesty and Transparency are going to be the critical ingredient for long term success.

As the saying goes ‘The world calls for and expects from us, the simplicity of life, the spirit of prayer, charity towards all, especially towards the lowly and the poor, obedience and humility, detachment, and self-sacrifice. Without this mark of holiness, our word will have difficulty in touching the heart of modern man.~ Pope Paul IV’ all we need is a good heart to make a difference.

Sources:

https://www.cafonline.org/docs/default-source/about-us-publications/caf_wgi2018_report_webnopw_2379a_261018.pdf
https://www.pressconnects.com/story/news/local/new-york/2017/11/29/how-much-your-donations-actually-go-charity/108107792/
https://www.501commons.org/services/learning-programs/Philanthropy.PNG/image

Image courtesy of PixaBay.

Green Flag, Red Flag: Tips to Evaluate a TRON ICO

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The simple saying ‘Better safe than sorry’ takes a lot of precedences these days when it comes to choosing an ICO to invest within the TRON ecosystem. We have witnessed an astronomical growth regarding transactions being handled by the TRON network, a lot of credit for that goes to the SRs and the projects running on TRON protocol.

In a short span of time, we have seen close to 1600+ tokens being launched using the TRC10 protocol which is also helping a lot in terms of enhancing the usage. Most of these tokens trade only using TRX pair, ICO purchase is also through TRX only.

All these are helping TRON eventually hold its ground in this bear market and also promises for a prosperous future as a lot of these projects gets into mainstream usage. TRON (TRX) has made the token creation process super simple and almost free with the cost of token creation being just 1024 TRX. This is helping a lot of projects which had an idea but lacked access to funds and resources to launch their projects.

Having said this, there is a flip side to it; low entry barriers are also allowing a lot of ‘scamsters’ get into the system. They are creating tokens with the intent to exit scam at some point of time and escape with the investor’s fund.

Lack of regulation in this domain makes it all the more difficult for you to recover your funds once lost. The objective of this article is to assist you with 10 pointers which will help you evaluate a project and make an informed decision. Our humble request to all of you reading this article is not to gamble/speculate when it comes to ICO investments.

Success takes time; hence legit projects will take time, but the ROI will be phenomenal. Becoming millionaire overnight is a myth, it takes a lot of patience, perseverance, and knowledge to sail through this roller-coaster ride and achieve your financial goals. So be smart and choose wisely.

In this article we use a simple strategy to evaluate a project – Green Flag means the project is good to invest, the Red flag means we need to avoid investing in it. So here are our 10 pointers to conduct an essential evaluation of a project:

Product

This is the heart of any business. GREEN flag goes to the project which has a working or planned product, a clear use-case, has plans to launch BETA versions. Also, you need to evaluate if using blockchain actually makes it viable and useful.

RED flag a project which has vague or undefined use-case or is too simple that every kid off the blocks is doing it. Simple tipping/meme tokens are classic examples of this where you need to carefully access the usability and how the project differentiates itself from other off the mill projects.

Few note-worthy projects which can be given green flag on this aspect are – IGG, CyberTron, TronWatchMarket, TronWeeklyJournal, SEED, WIN, BeatzCoin, GEMS, Book.

Team

This is again one of the most important aspects to access a project. A team which is not public has a higher probability of pulling off an exit scam. The blockchain is about transparency, and if the unit itself is not transparent, then it’s a big RED flag. So look out if the project has a team, who are the developers, advisors, marketers.

Does the team has public profiles visible on the portal, do they have previous business / ICO / blockchain experience. Is the project happy to post the photographs of the team on the official website? Give it a RED flag if you don’t find these basic information, give a GREEN flag if the results of your finding are satisfactory.

Few projects which score green here are – TRWJ (Tron Weekly now), IGG, KsumNole, SEED.

Token supply and pricing

This is an excellent indicator to access the intent of the project. This differentiates the professionals from the noobs. A big RED flag goes to ICOs which creates ridiculously high supply which runs into thousands of billions/trillions with an absurd ICO price on www.tronscan.org ranging from 0.1 to 50 TRX for each token.

If you do simple mathematics you will realize that we will run out of all the TRX available and still the ICO will not be 100% sold, which means the creator doesn’t even intend to achieve full ICO sale, a clear exit strategy. If you observe this RED flag then immediately drop the idea of investing in that project as high chances you are dealing with a scam or a noob and both are not good for your investments.

GREEN flag goes to projects which if 100% sold at the ICO price covers only a small percentage of TRX supply thus leaving enough space for its value to grow and give good ROI to early investors.

White paper and website

These are the first impression of the project and again are a big differentiator between professionals and new kids of the block. Give a GREEN flag to a project which has a detailed whitepaper and website which clearly explains the project, product, use case, roadmap, key benefits, token distribution allocation, etc.

A RED flag goes to projects which either do not have these ready or it’s just for namesake. A project should have this basic stuff ready before they venture out to garner funds from the public.

Social Media

In the digital space, social media is the strongest tool available to create a huge global customer base. A legit team will strongly invest a lot of time and energy to build up their social media presence.

Give a GREEN flag to the project which is active on most of the social media channels like Twitter, Telegram, Reddit, Medium, Facebook, Instagram, Slack, etc. A RED flag goes to projects which create it for namesake and do not actually use it to build the community or engage proactively.

Communication of the team

The communication by the community managers and teams are a good indicator of accessing the true intent of the top bosses. Check if the community managers are engaging with the community to build relationships with them and spread awareness about the project, developments, future plans or are they just trying to hard sell the ICO.

Also, transparency of the community managers goes a long way in establishing the trust for the project. Give a GREEN flag where the admins are real and transparent, their social media profiles are matching in different platforms (i.e. they are the same person in the telegram, twitter, facebook, linkedin, Instagram, etc.) and they are actively involved in spreading knowledge and awareness.

Give RED flag to the admins whose real identity you cannot access. Real people who believe into an idea/project and are entrusted with the task of promoting it will never be required to hide their identity.

Pre-mine and freeze

A legit ICO will have a clearly defined roadmap for token release and distribution. GREEN flag goes to projects which follow their roadmap and keep the un-utilized tokens frozen as defined.

RED flag for projects which put 100% of supply into circulation and trade on day one itself, high chances they just want to sell whatever they can before they pull the plug.

Market size and potential

Give a GREEN flag to the project which has identified a niche market and are leveraging blockchain to create a global customer base. Typically products which have a global use case, sizeable customers already spending money in that domain( which will shift to blockchain over a period of time) are good green flag indicators.

RED flag for the projects which hardly has any existing or future market because the use case is vague or non-practical.

Community

Communicating with the community can give you a lot of indications about the project. Give GREEN flag to a project where the community is loyal and knowledgeable; they vouch for the product and the team, discussions in the group is constructive and project-centric. A RED flag where the community is not aware of the project as high chances they were just bought or are bots.

Commitment

This parameter kicks in a little later but still helps in safeguarding your money from becoming ZERO. Give a GREEN flag to the team that values responsibilities and delivers on time – be it a product release, partnerships, merchant onboarding, events, commitments to investors, etc. Vice-a-versa for teams which frequently backs out from their own words.

Apart from these also be cautious about the fake/counterfeit tokens which almost look real to the legit tokens except for a small change in the alphabets. It is advisable to buy your tokens from legit exchanges / tronscan link shared by the project officials / from the official telegram channel of the project. You are venturing into risky domain when you enter private sale groups having low control over the fake tokens.

Very few things in the world are perfect, but we need to aspire towards perfection on a daily basis. So after evaluating a project on above parameters if a project scores 8-10 it could be considered safe, any score below five should definitely be skipped for the time being till the team proves it another way around.

Due diligence and a little time investment can go a long way in not only safeguarding your money but also to give you phenomenally high ROI in the long run. It’s just a hunt to avoid garbage and fill your bags with gold.

Hope all of you create massive wealth in years to come. Happy Investing!

Image courtesy of Pixabay.

Beginners’ Guide to Success in Digital Assets Investments

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       HOW TO REDUCE RISK WHILE INVESTING IN DIGITAL ASSETS

A quick checklist for beginners’ Investing in any asset class requires an understanding of certain principles and practices to help meet your goals. Digital assets are a new asset class in it of itself, so on that not, here are my Top 11 principals for Digital Asset Investments.

1. Learn: This is fundamentally the most important principle, as without this everything else fails. Make sure before you venture out into investment domain you are well equipped with at least the basics. Learn basic Technical Analysis (TA), how to read charts and follow patterns. Invest some time to learn the tools/indicators for market prediction like RSI, Bollinger Bands, Moving Averages etc. My personal favorite is Elliot Wave (an age-old principle that’s also a favorite of Warren Buffett).Also ensure you DYOR of the project you plan to invest in (Study about – Product Use-case, the team behind the project, the market size, competition available, the strength of the sub-teams i.e  Product development, Marketing, Legal, Advisory, Customer support etc)

2. Set Goals: A lot of people fail in investments as they do not set goals, hence don’t know when to exit.
Set 3 kinds Goals:
A. Short Term – To meet your day to day expenses.
B. Mid Term – To achieve lifestyle goals like Car, Vacation, Luxury products etc.
C. LongTerm – Financial freedom (creating cash flow which can suffice the needs for rest of your life),and enough wealth to purcahse big ticket items such as a dream home or luxury vehicle.

3. Diversify: The basic principle of ‘Never put all your eggs in a single basket’ is essential. Never bank on just 1-2 coins, identify 8-10 good projects and diversify your exposure(thus minimizing your risk of project failure as well).

4. Book Profit: It’s only a gain if you close out the trade. It is Important for short term trades to learn how to ride waves (read Elliot Wave theory. Trading view also provides many charts for the same).

5. Law of Averages: It is important to learn ratios and know that more often than not they work. No strategy will work 100% of the time. For example, if you are using RSI as a tool give it 10-15 trades for the averages to work in your favor. In addition to paying attention to the percentage of times a strategy works, also be attentive to the profit and loss for each trade. If a strategy works 50% of the time, but the wining
50% of trades book $100, and the losing 50% of the trades lose $25, this is a winning strategy. Likewise,there are cases where most trades can be profitable – but the strategy still loses money overall as major losses exceed the dollar value of minor wins.

6. Set StopLoss: Another important step towards risk management is risk mitigation; learning about setting StopLoss triggers can go a long way in that aspect. Take emotion out of trading, and define when you’re willing to exit a trade.

7. Don’t be emotional: After Knowledge this is perhaps the 2nd most important principle to follow. Getting emotional in investing can be disastrous. Avoid FOMO (emotional surge of Fear Of Missing Out), Panic selling. Avoid making the mistake of looking at price charts every hour when you know you are far away from your set goal and then selling at loss in a bear market. Patience is a virtue which is required
especially in a bear market. Remember, you are at a loss only if you sell your assets at a loss, learn to HODL (Hold on to your Dear Life), unless your thesis on a coin changes.

8. Create Residual Income: Digital Assets provides ample opportunities to create Residual income where your money creates a passive cash flow for you. Plan and gradually increase your investment to such a level that the residual income output you get meets your goals. To start with you can park a portion of
your portfolio to POS coins or allocate for rewards (like Freezing TRX for Super Representative rewards).Then you can upgrade to set up a few MasterNodes. Finally, if you gain expertise setup your own mining rigs. Let the power of compounding work on it!

9. Don’t Speculate/Be Greedy: Understand that you are investing here, not gambling ..for gambling you have Casinos 😉 . Thinking of becoming overnight millionaire is the quickest path to failure as you set wrong expectations from yourself and with the market. As the Saying goes ‘Rome was not built in a Day’ the same holds good for investments in Digital assets as well. Have Patience!!

10. Leverage correctly: Leveraging is a powerful tool if utilized correctly and within safe limits, else it can backfire drastically. Leverage Bank’s Money/Trades only to the limit for which you have cash to cover in case of the trade going wrong. Advisable not to use it if you are very new to the market.

11. Trust chart and not your feelings: The digital asset market currently has many manipulators who try to play with your feeling (through media articles, news, pumps&dumps etc), you win if you have a strong hand and rather than going by other’s random advise you believe and follow the charts. Rather try and find a GURU/Coach who can act as your guiding light.
You are in Digital Assets market which is just about 10 years old; hence we all are the early adaptors.Play it by the book, play it safe and smart! There are rich dividends to be reaped in years to come. Happy
trading and investing.

Regards,
Debasish Das.
Telegram – @deba215
Twitter – @deba215
Email – debasish.das215@gmail.com