April 1st, 2019 - Universal basic income and blockchain are two revolutionary ideas that will transform the shape of the near future. The Baza Foundation exists to usher in the next wave of change by offering a platform where charity and donation contribution can be distributed fairly and on a decentralized, completely transparent platform through the BAZ token.
Universal basic income is an idea whose time is about to come. For the first time, people around the world will be liberated from the work-reward cycle, and live with dignity without co-dependence on their jobs or income. The Baza platform has been founded to innovate the process.
The Pre-Sale Fundraiser for the BAZ token will be held between March 31-April 30, 2019, and aims to raise USD 1.5 million. For more information and to participate, please visit: Baza Foundation
“The Baza Foundation's purpose is to revolutionize the donation and charity industry with the decentralized blockchain technology, and offer a basic, minimum and guaranteed income to its recipients through donations made by its member donors”, says M. Andrew Witham, Founder, Baza Foundation.
As per a World Bank report, only five countries in the world (India, China, Nigeria, Bangladesh and DR of Congo) account for 64% of the poorest people. Extreme poverty is defined as living on less than $1.25 a day. Unfortunately, the present state of the charity sector is less than healthy. As per a Financial Magnates report, over $2 trillion in revenue was accrued as charity in 2015. Though many charity transactions use digital technology, a lack of trust has developed due to corruption, scandals, misuse and mismanagement of funds. High administrative costs can eat up to 80% or more of the donated money.
“With the BAZ token, we will create a system where each donation made is maximized towards distribution with an automated decentralized administration process,” says M. Andrew Witham.
The BAZ token is a redeemable security token that will be automatically distributed to all qualifying members in the form of basic income, once a donated amount reaches 2 USD per recipient (including administration fees, development fund and processor fees). Among the resources, the Baza Foundation platform includes an in-platform digital wallet to store and donate BAZ tokens. The wallet will track donations and connect donors with recipients. To become a member, users can sign up for an online account and become patrons, who can also become foundational members by special subscriptions.
Use of blockchain, such as secure ledger technology, and smart contracts will change the way charity and donation processes work. The Baza platform for delivering a basic foundation will hold the following benefits:
- Transparent donations verifiable by every participant
- Reduction of fees and other costs to bare minimum
- No transactions will be lost within the secure ledger technology
- Increased trust among donors
- Self-governing features reflecting the principles of decentralization
- Real time tracking of donations and transactions
The BAZ token has a total supply of 10 billion with infinite mining (GPU mining will be available), and is developed on the XMR Clone algorithm. The initial distribution value has been set at 2 USD to 0.01 BAZ. The price will be determined in the future by a special committee of platform citizens.
Pre-ICO Fundraising Goal: USD 1.5+ Million
Starts: March 31, 2019, 06:00:00 UTC-5
Ends: April 30, 2019, 23:59:59 UTC-5
Reward token price: 0.01000 BAZ = 1 USD
Accepted currencies: ETH, BTC, LTC, BCH
Private sale offer: Additional 10% off for over USD10K
Soft cap: 15000 BAZ (no hard cap)
Read the official press release here: https://baza.foundation/#!news/1
Download Baza logo: https://baza.foundation/public/img/baza_logo.svg
About Baza Foundation
The Baza Foundation is a 100% donor centric US-based non-profit charitable organization with goals to change the conventional modus operandi of donations. It aims to implement core values of transparency, trust, decentralization and disintermediation by employing the convenience of the secure ledger technology to provide the traceability of the donations. Baza Foundation is a digital platform built with the objective of re-imagining a nonprofit organization by adapting the principles of basic income, smart contracts, and secure ledger technology. Because everyone needs a basic foundation.
For more information, please visit: https://baza.foundation
Media Contact
Company Name: Baza Foundation
Contact Person: M. Andrew Witham
Email:Send Email
Country: United States
Website: https://baza.foundation/
