Whitepaper CARE

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     A Non-Profit Blockchain based charity

   POW/POS with Masternodes

White Paper

                             Table of Contents

INTRODUCTION          3

WHY BLOCKCHAIN          4

OUR MISSION AND GOALS          5

MASTERNODES          6

CHAIN PARAMETERS          7

ROADMAP          8

PARTNERSHIPS          9

EXCHANGES          10

MEET THE TEAM          11

A BIG THANK YOU          12

INTRODUCTION  

Blockchain technology has served the humanity with its introduction in our daily lives and will continue to do so for years to come. we have conquered the barriers of centralization and are on our way to create a truly decentralized infrastructure. But among all these advancements, do you think this technology is truly serving the humanity?  

The answer may be yes or no depending on your perspective, but we at Carebit will make sure that will be the case.  

What if there could be a way to provide help to those people who are injured in an earth quack, within hours of the tragedy?  

What if someone wants to donate but want to stay anonymous?  

Are existing charities totally transparent and non-profit organizations?  

With the help of blockchain, we want to find answers to the above questions and we believe that all of the above is possible.

WHY BLOCKCHAIN

Crypto world can change the lives of many people and will be a common practice for all our daily transactions in the very near future. But has it got the power to change the lives of poor and homeless?

There are people in the world who do not have the luxury to access a computer or have internet facilities. Will they be left behind while we enjoy all the technology benefits? We want to make sure that will not be the case.  

The efficient way to help those people in a timely manner would be through blockchain transactions. Many charities today take time to collect funds or even if they have funds readily available, it takes time to provide help in affected areas, and by the time help arrives, many lives are lost.  

With the help of blockchain, we will save those lives. This can be done and we will make it happen. Also, donors would be able to track their donations with our project fund tracking once implemented on our website and the blockchain is launched. 

We will explain our goals and how we plan to do that in upcoming sections.

OUR MISSION AND GOALS

Our mission is to raise awareness about Carebit coin among charities and social communities as being the only coin for digital charity giving and philanthropy. There will also be specific charity events raised from time to time and we will get donations directly to the people in need of help. We will need many staff/volunteers from all over the world to accomplish that but until then we will rely on existing charities to distribute funds. It will be similar to what bitcoin100 did back in 2011. Here is how it will work...  

There will be a separate CBT wallet for community donations. Any donations in the wallet will not be used as collateral and will never stake. Wallet address will be made public in our discord channel.  

Donations will always be given out with the community consensus and there will be no deductions of any amount. 100% donations will reach to their rightful owners. There will be no distinction to race, colour, religion or ethnic background of the recipients.  

Initially we will need community volunteers from all over the world to speed up the process. If any charity organization has volunteers already in the affected areas, payments to those organizations will be made with community consensus and record of all the details of the individuals/recipients will be kept in our community channels for future reference and transparency purposes.

Payments will be made in Carebit coin wallets of the recipients so the transactions can be recorded. Those coins could then be sold in open market by the recipient, although we have plans to partner with crypto payment card companies so the coins can be spent in an efficient manner. Donations can also be made in BTC, but those will be instantly used to buy CBT at market rate and kept in donations wallet.

Please note that any donations above a certain value (still to be decided with relevant authorities) will require its donor to identify himself, else the amount will be disclosed to relevant authorities. This is to prevent money laundering and illegal digital assets entering into our system.

MASTERNODES  

Masternodes will be the backbone of our network as POW will end on block 10,000.  

Each Masternode will require a collateral of 30,000 Carebit Coins (CBT)  

The team will be running a total of 5 Masternodes from the lunch date to cover the running costs. A total of 100,000 CBT will be kept for Airdrops, Community helpers and bounty payments. These coins will not be staking and will not run as a collateral.  

A total of 15 MNs will be up for grabs after the launch and every day there will be 5 MNs for sale to cover the Exchanges fees and listings on Masternode sites. Each Master node will be sold at a price of 1.5 BTC.  

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