One Nation | One Goal | One Coin â„
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Armcoin Ltd. is the leading decentralized cryptocurrency specifically customized for Armenia Fund. Armcoin will benefit Armenia Fund by facilitating and securing the donating and fundraising experi-ence. By maintaining full compatibility with the Ethereum API, Armcoin is very easy to integrate into existing applications that already offer Ethereum support. One of the main advantages offered by the Armcoin network is faster transaction confirmation, making it ideal for the receipt of pledges and donations. Developers can easily enable support for Armcoin transactions. Merchants can easily inte-grate Armcoin into websites or applications using existing third-party shopping cart plugins. Armcoin can be easily purchased and sold on a number of exchanges using all types of currencies.
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We believe that the Armcoin platform will revolutionize the non-profit organization donation model, and allow all parties Armenia Fund, contributors, auditors—a better, seamless experience in the process of contributing to and monitoring the activities of Armenia Fund.
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[1] INTRODUCTION
Armenia Fund was established in 1994 in Los Angeles, California. Armenia Fund, Inc. is a 501c
tax-exempt, non-governmental, non-political corporation. Serving as the United States’ Western Region affiliate of the “Hayastan” All-Armenian Fund along with its nineteen subsidiaries around the world, Armenia Fund, Inc. has issued over $120 million of electricity development guarantee and humanitarian revenue for Armenia. Lately the government of Armenia has been contributing to the fund since the fund has been receiving less support and not being able to meet its initial goals. Each year Armenia Fund hosts an International Thanksgiving Day Telethon, generating millions of dollars in donations.
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1.1 Problem Overview
Nonprofits need both communication and money. Chapters need to communicate amongst each other to organize events and the organization need to inform the members of the actions and the progress toward the objectives. Many nonprofits are already equipped with a blogging platform, mail services, and forum. Non-profits need money to recruit new members to implement actions; while the foundation of a non-profit organization is the willingness of its members in a largely volun-teer capacity to reach their objectives, there are nonetheless administrative costs associated with a non-profit organization—paid staff, public relations and communications, legal and accounting firms, etc.—and money is vital in attaining the goals of the community.
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Armenia Fund is beleaguered by pledges that are not fulfilled. Some 15 to 17 percent of pledges are not received. As such there is a 5 to 7 percent loss from the number that is announced during the annual telethon. There are also returned check fees, as well as credit card fees, and the loss of value as currency is exchanged. The blockchain ledger and cryptocurrency would resolve this issue because the blockchain is imprinted—pledges would be guaranteed because transactions on the blockchain cannot be reversed. Armcoin guarantees the facility of currency exchange. Armenia Fund would benefit from using cryptocurrency instead of fiat currency; there is a benefit to using the blockchain ledger rather than credit cards and wire transfers. Utilizing a standard cryptocurrency would positive-ly affect the overall amount of funds collected after the impact of currency exchange, and fees associ-ated with banks and wire transfers, are mitigated.
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1.2 Mission Statement of Armcoin Team
“To improve the contribution and receipt of donations by decentralizing the currency by which it donations are made, thereby accelerating the ability of Armenia Fund to utilize the funds and giving the global marketplace a means to effectively do business with Armenia.”
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[2] NEW TRANSACTION SYSTEM
2.1 Maximum Security
A cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. In traditional banking and commerce, individuals rely on a third party such as banks and credit unions to facilitate transactions. Cryptocur-rency supposes there is a better method of maintaining and transferring currency, by using a register among the participants.
[3] HIGH RELIABILITY
Cryptocurrencies exist only in computers. The majority of fiat currencies, however, also only exist as numbers in a computer system. Cryptocurrencies require distributed systems to ensure integ-rity and reliability, and they can be a good alternative to national currencies. They are digital records held by many parties that track how much currency any single wallet holds. Some of the benefits of cryptocurrencies include decentralization, deregulation, anonymity, increased transaction transpar-ency, and the facilitation of cross-border trade. Cryptocurrencies are not based in any single country or jurisdiction, because the ledgers and servers are spread out over the globe. Since there is no central bank, the system is distributed and therefore not easily manipulated either by large institu-tions or by governments. This means there is little regulation and more freedom on who spends how much on what and where. This benefit is enhanced by the fact that there is less private information attached to each transaction. There are even cryptocurrencies whose main goal is to provide an untraceable, secure, and anonymous means of payment.
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3.1 High Level of Transparency
On the assumption that at least ten individuals (though three would also work) want to forego banks or third-party money managers, those parties would all have details of each other’s accounts – but not identities – at all times. This transparency ensures the safety and appreciation of the cryptocur-rency. Armcoin is the leading decentralized cryptocurrency specifically customized for Armenia Fund. The Armcoin platform will revolutionize the non-profit organization by allowing all parties—Armenia Fund, contributors, auditors—a better, seamless experience in donating to and monitoring the activi-ties of Armenia Fund. Donations through the blockchain would remain anonymous, but would be fully transparent for all parties involved.
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3.2 High Interoperability
By maintaining full compatibility with the Ethereum API, Armcoin is very easy to integrate into existing applications that already offer Ethereum supportBy maintaining full compatibility with the Ethereum API, Armcoin is very easy to integrate into existing applications that already offer Ethereum support. One of the main advantages offered by the Armcoin network is faster transaction confirma-tion, making it ideal for small-size purchases. Developers can easily enable support for Armcoin trans-actions. Merchants can easily integrate Armcoin into websites or applications using existing third-par-ty shopping cart plugins. Armcoin can be easily purchased and sold on a number of exchanges using all types of currencies. After the initial phase, Armcoin will be its own blockchain ledger, at which time there would be a potential for mining. Armenia would benefit from mining, because it would bolster the country’s economy and infrastructure through the strengthening of the currency, as well as the jobs created.
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3.3 High Accessibility
Armcoin can be easily purchased and sold on a number of exchanges using all types of curren-cies. Armcoin is readily available for purchase and use within minutes. Because there are fewer people and processes involved, cryptocurrency transactions are fast and efficient. The non-profit wouldn’t be dealing with paperwork or extra steps to ensure that pledges materialize into funds. With traditional payment processes, it can take three or more days to have the money in your account. The timeframe could be even longer when dealing with an international payment. The quick transfer of cryptocurrency results in donations delivered faster so Armenia Fund can put that money to work.
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[4] USE CASES
Armcoin payments are transparent because every transaction can be verified by anyone in the block-chain ledger. This means fraud is more difficult because there are many copies of the transaction record are available for anyone to see. Furthermore, everyone knows how much every wallet contains (though real names are not included). The public balances come from the way in which balances are implemented in the technology. As for cross-border trade, since cryptocurrencies are non-national, anyone can pay anyone anywhere without needing to convert currencies.
4.2 Standardizing Currency and Reducing Loss During Exchange
Like fiat currencies, cryptocurrencies have no intrinsic value. They are numbers stored on a computer system, much like the way modern digital banking handles national currencies. Fiat currencies then derive their value from the collective faith of a society using them. Cryptocurrencies are similar to fiat currencies in that they are only worth as much as everyone deems them to be worth – but they fluctuate more.
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Since there is no central authority, there is no one to stabilize cryptocurrencies against national currencies. One of the goals of many cryptocurrencies is just that: to ensure that market forces are the only forces that influence the value. Cryptocurrencies may appreciate over time, but there is also an upper limit to the number of units that are available in a currency. Armcoin cryptocurrency will ensure that the pledged donation maintains the value which the donor intended to contribute, not affected by fiat currency exchange rates, as well as credit card and wire transfer fees. One of the issues with accepting debit and credit cards is the fact that we get hit with high processing fees. While Armenia Fund may have increased its number of donors with this payment method, the fees eat into what the organization could get in terms of donations. With cryptocurrency, there are no banks or credit card companies involved in the transactions. That means a much lower processing expense. Many sites offer very low transaction fees, while others help non-profit organiza-tions by accepting a certain amount of cryptocurrency with no transaction fees. Cryptocurrency also guarantees easier access to international donors. Armenia boasts an international diaspora of 8 million people, many of who contribute to the infrastructure and growth of their homeland through Armenia Fund. Because so many countries are interacting with each other online and through social causes today, Armenia Fund has experienced considerable growth among our international donors.
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Yet accepting credit card payments from international donors proves to be difficult due to exchange rates and additional fees related to these transactions. Armcoin is a cost-benefit and convenience for both Armenia Fund and its international donors, as there is no need to deal with currency exchange rates that often fluctuate or the additional fees associated with international credit card payments.
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4.3 Retail Integration
The greatest barrier to widespread adoption of cryptocurrencies is acceptance. Another major problem is fragmentation. One cryptocurrency must be adopted as a standard — people don’t want to use five different currencies, all fluctuating against each other, in their everyday life. Busi-nesses also don’t want to have to set up all the tech to accept five different currencies and always adjust their prices. Armcoin is the leading decentralized cryptocurrency specifically customized for non-profit organizations. We take pride in organizing and making transparent the process whereby Armenia Fund receives and utilizes the contributions made by patrons.
Fund by Buying!
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[5] CURRENCY AND COMMODITY STABILIZATION
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The price of Armcoin fluctuates based on the price of Ethereum, but also stabilizes based on the U.S. Dollar. The incentive of Armcoin is a percentage discount when consumers buy, sell and trade with Armcoin. Once Armcoin becomes live, upward fluctuation and appreciation of the cryptocurren-cy guarantees Armcoin additional money. There is the potential for growth because of interest in the product. The dram is currency that is only for Armenia within Armenia. Armcoin would be interna-tional and pan-Armenian. It would be the official web currency accepted by conglomerates; within Armenia it would be accepted as a standard currency to buy and sell, making Armenia part of theglobal economy.
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Art Sevada is a bona fide Renaissance man, recognized for his many talents and pioneering endeavors. Today, as the CEO of GRIGOCORP and President of Sevada Productions, both based in Los Angeles, he continues to build on a diverse body of work, as an award-winning artist and entrepreneur.
Art Sevada was born in 1972 into a family of renowned artists, in the city of Abovyan, Kotayk Region, Armenia. Inspiration was all around him as he grew up in a household steeped in creativity. By the time he graduated from high school, Art had already mastered several musical instruments, and cultivated a profound appreciation for visual arts and esthetics.
After he and his family moved to Los Angeles in 1990, Art studied music composition and visual arts at California State University, Northridge. His formal training would propel him into a flurry of creative work in the ensuing years.
Between 1995 and 2000, Art released three albums of original music, including "Palpitation of Soul," "Years of Solitude," and "Disconnected." Apart from composing the lush, melodically-driven material, he had also played all of the instruments and arranged the music. All three recordings have garnered critical praise.
In the late 1990s, Art established Sevada Productions, a firm specializing in a broad range of creative work, from graphic and web design to television commercials and software development. Sevada Productions continues to grow, and is widely recognized for landmark projects that push the envelope in terms of content and design alike.
Throughout the 2000s, Art also pursued his passion for filmmaking, by writing, directing, and producing a series of intensely personal films that are also noted for their universal appeal. His credits include his trilogy, comprising "As a Beginning," "Mikosh," and "The Rope," as well as "Three Colors in Black and White" - all of which have received critical acclaim in Europe, the United States, and elsewhere.
In 2015, Art founded GRIGOCORP, a consortium of entertainment and consumer-product companies, with the goal of developing and marketing a diverse range of inventions. Today, cutting-edge products being made or developed by various GRIGOCORP enterprises range from eyewear, modern gadgets, and electric cars to next-generation apps and devices including SFNX, the world's first artificial intelligence psychologist.