An alt coin which was only established in its current guise in March this year is punching above its weight when it comes to charitable activity.
Robin Matthes, director of charity for $PAC Coin [the Peoples’ Alternative Choice Coin] explains that the core business is “mass adoption and we’ve niched it to retail adoption and charity use cases.”
Their goal is “education first, adoption second” as building a seamless confidence in the product provides more long-term value as the brand familiarises itself with the local communities.
His work takes us on an interesting journey involving mushrooms, educating refugees on the technology as well as air-dropping $5 worth of $PAC to them via the hyperinflation which has rendered the Venezuela’s fiat currency as almost worthless.
The core objective at $PAC is the use of cryptocurrency in charity with 5% of all rewards generated allocated to charitable initiatives.
Unique hybrid
$PAC is a unique hybrid digital asset that combines the world’s third largest masternode network complimented by an ever growing vibrant community. These two networks combine to provide a strong foundation for all $PAC’s charitable work.
“This initiative I’m running is called the Community Chosen Charitable trust. The community submits their favourite charity,” Matthes explains.
“We have this whole list of charities and then they start voting on every one or two weeks we select the most voted on and we start funding them.
“We are funding children with cancer in Venezuela and the Brynn children’s home in India. Our main charity is saving Venezulean refugees. We chose to do our project in Cucuta just over the border in Colombia.
Street merchant
“There’s this huge bridge where 50,000 refugees cross on a daily basis. The situation overall is horrible.
“We airdrop $5 dollars’ worth of $PAC coin directly to the refugees so they can go to a street merchant who we have provided with a tablet to accept these coins so they can buy goods and medicine.
“We essentially educate them in blockchain and we do a quiz and we do it again until they get everything correct and then we airdrop the $5 worth of $PAC coin.”
“Because Venezuela is hyperinflating their currency is worth less than Monopoly money.”
He says: “Essentially these refugees receive the air drops instead of only providing them with the hypothetical fish we also want to teach them how to fish. That’s why we have been looking into highly proliferating superfoods.”
Mushrooms
“We stumbled upon this research in the Middle East where they are growing mushrooms at a rapid rate. The beautiful thing is within 25 days these mushrooms have grown to significant size to feed a family.”
“Mushrooms have a protein equivalent of a steak and are also very high in dietary fibre and minerals. It is a very good replacement for the staple foods that are being provided.”
“They also get a workshop on how to grow mushrooms and they are provided with a booklet with the different things you need to take care of to prevent diseases. It is really gaining some traction already.
They also hope to sponsor a bike ride for the refugees.
Over the Christmas period, they are looking to provide dinner for some of the refugee families as part of their charitable activities.
He says they may also expand to Africa where digging a well could transform a whole village by providing clean water for them.
It is clear, the $PAC Coin has had an interesting journey. Earlier this year, it was accidentally elevated to third place on coinmarketcap.com due to an accounting error which led to a flurry of interest – which didn’t affect its price.
A recent 48-hour demonstration at a Hilton hotel showed how the technology works with all food and drink paid for in $PAC Coins.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.