SovereignAid will prove to become one of the greatest uses of blockchain technology so far, with a mission statement to eradicate extreme global poverty by 2032.
SovereignAid coupled with its fledgling parent company SovereignCoin are two groundbreaking projects for showing the true benefits of blockchain. Born as a Global philanthropic mission to help the world’s neediest citizens, whilst also benefiting the unbanked in developed nations, it has the added benefit of giving the blockchain “brand” a boost.
Next time you need to outweigh pointed cryptocurrency or blockchain criticism by pleading for consideration of all the good things it has done, try invoking the name of SovereignAid, a venture which promises to educate and empower in equal measure. It is well accepted that for cryptocurrency and blockchain technology to be widely adopted, it needs to be used by every strata of society – rich and poor; tech-savvy and tech-phobic; male and female; banked and unbanked.
It is this first and latter group – the world’s two billion unbanked – at which SovereignAid is targeted, being able to simultaneously serve the world’s wealthiest and poorest individuals, providing utility for the former and a lifeline to the latter. Charitable, functional, and spendable, SovereignCoin is setting its sights on becoming the one coin to rule them all.
But before the ways in which it can benefit the neediest and poorest members of society can be considered, first it is necessary to examine what it can do for the most privileged. SovereignCoin, SovereignAid’s parent company, is a global commercial and financial infrastructure that will connect hedge funds, central banks, family offices, pension funds, Fortune 500 companies and even a smaller nation’s treasuries and sovereign funds for global trade, creating one of the world’s largest digital assets networks. It will serve well as an alternative world payment system for the $155 trillion in cross-border transactions made each year in a bid to become a “Free World Currency”.
SovereignCoin aims to become the first truly ‘stable’ digital currencies by having its corporate clients and companies back the currency and their transactions and trade with hard assets using “Proof of Asset” (PoA) protocols which are verified and integrated into Sovereign’s blockchain. SoveriegnCoin also has a ‘Gold Label’ solution allowing these same clients their very own cryptocurrency which can be renamed as their standalone currency or connected to Sovereign’s global digital network. In general, Sovereign will serve as a real-time payment and deposit solution for banks, financial companies, corporate businesses and international companies specializing in large volume transactions from high value real-estate deals, aerospace and defense contracts for nations, tier one mergers and acquisitions, national debt processing, large-scale business transactions and international energy, commodity and oil trading.
Envision the future: Sovereign’s global financial network connects and trickles funds down to individuals, including those from the poorest segments of society, via a smartphone mobile application which has a digital wallet and connected physical cryptocurrency smartcard. SovereignAid’s ICO will enable the charitable organization to partner with Mission Earth Project, phone manufacturers, Chinese factories and major donors to purchase and budget smartphones or ‘upcycle’ some of the 150 million cell phones thrown out each year in the US. These smartphones will be reused and sent overseas with a mobile app, which accepts Sovereign network donations, pre-installed for distribution to millions in need. SovereignAid has layout and multiple cryptocurrency digital wallet with integrated smartcard which will be redesigned for the extensive SovereignAid project.
“Sovereign is working with CentraCard to develop a smartcard solution that will allow the person in need to buy anything from anywhere accepting Mastercard. First, this allows 98.5% of the donation to go directly to the person in need. Second, the donor can see how their donation is used via RUON’s video and photo sharing profile pages. For example, a village in the middle of Africa which has been sent $10,000 worth of SovereignCoin can now buy water and food in their local community. The $10,000 worth of SovereignCoin is automatically converted to $10,000 in US dollars via the digital wallet smartcard. Yes, they may need to travel to buy supplies, but they now have the money to purchase travel and food for their village card and will organize food and supplies to take care of the village, churches, hospitals or local orphanages.
The proceeds from SovereignAid can be used to acquire solar panels or medical help through one of Sovereign’s many blockchain charity partners including impactpaa.com, aidcoin.com, guardiancircle.com and giftaid.org. People in need and village heads can then upload videos and photos to RUON of the solar panels or food and medical supplies in use for the donors to see. In fact, only 2% of the total of charitable giving last year was to individuals so SovereignAid can radically increase this number.
According to Sovereign’s detailed and insightful whitepaper, a powerful advantage comes forth, considering the metric up to 35% of potential donors choose not to donate to charitable causes if they are unsure where or how their funds are being spent. Third, SovereignAid can work not only on the Sovereign network to persons in need, but can be sent peer-to-peer with the public being able to choose exactly who will benefit, and where their donations are going. Now they may simply choose the individual via the RUON app, press a button and their cryptocurrency will instantly be made available to the person in need across the other side of the world. This also works the other way around, with the person in need being able to request funding from anyone on RUON in an emergency.
This new found capability will be extremely powerful for resurrection and rebuilding following sudden natural disasters, hurricanes, famine, war and earthquakes. Charitable funds can instantly be distributed and received to people in affected areas in a matter of seconds. RUON’s configuration also allows users to apply for donations.
“We want to be a charity with donations available for anyone in need, not just poverty. For example, if a woman was experiencing abuse by her husband but isn’t able to leave the house for lack of funds or coercion, she can request them via the RUON app. The request goes to Mission Earth Project Charity which verifies the request and then provides funds to her digital wallet. She now has the financial freedom to act for her own interests and those of her children, even if that means finding somewhere new to live with her kids in an environment that is free from spousal abuse at the hands of her spouse.
Obviously, the task is not small. However, the technology and concept is available today to eradicate global poverty, to protect children and fight human trafficking; the only thing stopping us now is the will to do so.
“We have met with a number of organizations and many charities with whom we will look to partner. Thus far, I have been most impressed with the Missionaries of Charity and Mother Teresa. I was lucky enough to be granted a very rare interview with the Grand Mother Superior of the Missionaries of Mother Teresa Charity in Florida. They have an incredible philosophy whereby they cannot ask for donations; they merely rely on God to send them what they need to carry out God’s work. Their philosophy is incredible, as with SovereignAid, virtually 100% of all donations go directly to the people in need (Astonishingly, with some charitable organizations, up to 60% of donations are retained by administrators and don’t make it to the people in need).
The missionaries also have an incredible worldwide network of missionaries, mothers, helpers and volunteers who have the capability to distribute these smartphones to millions of people in need around the globe. Today, there are 5,161 sisters in 139 countries, with 164 houses new in the last two years bringing the total to 758 missionaries.
One of the main reasons I love this concept is because it not just a quick fix. It’s a unique concept that will provide a long-term, sustainable solution giving technology, e-commerce, freedom and power back to the person in need so he/she do not merely rely on small food handouts. They now have funds to really change their lives, and their family’s lives forever.
These are rough numbers, but there are still more than 1.3 billion living in extreme poverty today — who have less than $1.25 a day, including hundreds of children living in fear of abuse every day. The World Bank estimates that $130 billion is needed per year to eradicate global extreme poverty, which is tiny in comparison to the fact that the world GNP is $75 trillion a year. When you look at the US they are a very generous nation, in fact, an incredible $390 billion is donated to charities each year. So firstly, you must ask where is all this money going as only $130 billion is needed to fix the extreme poverty problem. Also, when writing and researching our whitepaper, it has been incredible to learn that under 0.75% is donated to charity from the majority of the top Fortune 500 and companies combined in the USA.
In fact, out of this $390B, only $18.5B, (just 5%) is donated by major companies. This is a small number considering 100 of the biggest companies in the world are worth $16 trillion combined. So one of our goals is to get actors and celebrities onboard to help start a movement to highlight this and try to improve those numbers. We also think we can improve these corporate giving numbers by providing companies with smarter innovative charitable solution than is currently available. That is not taking anything from the Red Cross, Children in Need, NSPCC and thousands of charities with a positive rating on Charity Navigator that do exceptional work. Thanks to the transparency that blockchain technology provides, we can now monitor precisely where each donation goes and account for every cent, whilst allowing us to significantly bolster that funding or make current donations up to twice as efficient with SovereignAid
SovereignCoin will form a global financial network that will kickstart and provide the platform for companies and individuals to donate to SovereignAid’s charitable venture. Via a rolling ICO currently open for private investors, with a hard cap of $75 million, SovereignAid aims to start the process of getting smartphones and funds to millions of the world’s poorest and neediest communities. Users in the developed world who have downloaded the RUON chat and banking app from Google Play or the App Store will soon able able to send funds directly to people in need of their choosing
“Our company is in talks with various partners, including Google Ventures to start small with demonstrable real world scenarios, distributing phones to selected villages, orphanages and missionaries. We aim to partner with A-list celebrities to show the world the positive effect SovereignAid is having on individuals and the human lives it is saving and improving every day. We will then scale from there, bringing our philanthropic work to a wider audience, whilst making it easier for anyone to donate to charity – be it a little or a lot – in the knowledge that their funds are being used wisely and ethically”.
Sovereign is building one of the largest decentralized, global trade, financial and philanthropic digital assets infrastructures connecting hedge funds, private equity firms, banks, Fortunate 500 companies, UNHWs, pension funds, international companies, family offices and Sovereign funds.
SovereignNation Solutions (SNS) provides a digital currency to connect a Nation's departments and simultaneously serve its wealthiest and poorest individuals. Sovereign's SNS is one of the first blockchain technologies providing "Proof of Asset" (POA) verification. A nation can now back their digital currency with their gold, oil, energy, raw materials or sovereign treasury reserves to help create a "stable" cryptocurrency for the nation.
Now hedge funds, investment banks, financial institutes, Fortune 500 companies, corporations & companies can now have their own standalone cryptocurrency. "Gold Label" will increase stock price, create a new revenue stream and stimulate global sales with companies already connected to Sovereign's financial network
Use RUON to send and receive money instantly with a fraction of the fees of traditional methods. Your family, friends, and people in need, will receive it instantly and can access the funds immediately with their RUON Smart Card
“Together we can Provide and Protect Our Children. Save and Preserve Our Wildlife. Eradicate Extreme Global Poverty by 2032”.