Get to know BeKind, a Specialized Blockchain Project Revolutionizing the Donation Ecosystem

Indonesia is known as the most generous country in the world according to World Giving Index (WGI) 2021 released by the Charities Aid Foundation (CAF). Indonesia is in first place with a score of 69%, up from a score of 59% in the last annual index published in 2018.

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 the funds quoted by charities and how to keep charities sustainable. This background is the reason for the birth of BeKind, who is only the age of corn, in April 2021.

BeKind is a project blockchain the first in Indonesia to develop a robust and measurable, 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 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). In a joint interview DailySocial.id, 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. "It's just that the percentage of the cut that is healthy and acceptable is what percentage, it's not standardized and not transparent," he explained.

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.

“This is difficult because an institution does not have savings in its annual cycle. Especially in 2020, when the Covid-19 first started, many people tended to save money rather than donate. As a result, many institutions have difficulty raising funds. There is even research that mentions many institutions that stop operate, it's tragic."

BeKind wants to solve these two issues through blockchain which since last year is getting good momentum. In fact, according to Fajar, the presence of blockchain revolutionizing the donation ecosystem to be more transparent because everything can be seen historically real-time from the time the donation is given 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. The hope is that we want to create an ecosystem charity more balanced, there is a way out with blockchain and its derivative products can help solve the issue sustainability. "

BeKind . plan

BeKind's first product is the BeKind Token (BKND) as a digital currency that can be used to donate through the platform. Tokocrypto is the site for the initial launch of the token, which is planned to be implemented at the end of this year. Meanwhile, the BKND token has been opened for processing Pre-IEO (Initial Exchange Offering).

In the future, BKND tokens will become assets digital native to donate on the BeKind release hub platform. As is known, BeKind is currently the first startup to collaborate with Tokocrypto in the accelerator program ShopLaunchpad.

This opportunity opens BeKind to take technology further blockchain and cryptocurrencies so that the utility of BKND in the future can be more useful for its holders. BeKind works with the Binance Smart Chain protocol which is a project blockchain 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.

“When the donations have been collected, usually the donations are not immediately distributed. Now while waiting, you can use staking with the results that can be collected and hopefully it can become an emergency fund for the charity so that it can survive.”

Furthermore, Tokocrypto will be the platform exchange who receive BKND transactions, both when they want to donate and when donor recipients want to withdraw the donations they have received.

“This token does not function as a medium of exchange, but as a tracing to the end. Later the donor can check because it is still connected to blockchain. But when this token is converted to the applicable currency, it will stop tracing-his. Tokocrypto will be a party exchange-his."

As a legal entity, BeKind was established under PT Grace Teknologi Asia and has been officially registered with the Directorate General of General Legal Administration (Ditjen AHU).

Globally, in the same spirit as BeKind, there are The Giving Block whose tokens can now be used not only to donate to platformher but also in Save the Children, a non-NGO international donation agency.