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Cryptocurrency tokens utilizing blockchain ledgers bring new tools to improve the transparency and reach of funding of noteworthy enterprises in science, technology, engineering and math (STEM) worldwide.
STEMchain’s newly launched Crypto STEM Initiative (CSI) marks a global effort to facilitate the funding of such organizations, which include research organizations, charities and educational initiatives in the STEM disciplines.
The ecosySTEM provides a home base for donors to follow their favorite STEM initiatives. Donors log in to the ecosySTEM using their Stellar private key to donate STEM coins to partnered organizations. Further, STEMchain’s ecosySTEM is designed to allow participating vendors to accept STEM coins for the purchase of products and services by STEMchain’s partner organizations.
The CSI, with its dedicated token, comes at an opportune time. The current donation process has long suffered from a lack of transparency, which often causes well-intentioned donations to end up paying for
overhead and administrative costs.
STEMchain, a blockchain platform that directly connects donors to recipients, provides increased transparency for all funding transactions made through the STEMchain ecosySTEM. STEMchain has created a token on the Stellar Network for immediate distribution, exchange and transaction.
STEMchain is focused on funding STEM organizations and subsequent transactions on STEMchain’s ecosySTEM. This enhanced transparency strengthens trust between the donor and the Partner STEM
STEMchain vets every partner organization through a selective process to ensure that they agree to the requirements of the “Crypto STEM Initiative 100% Guarantee,” which requires an organization to only use STEM coin donations on their intended mission. STEM coin funds cannot be used for any extra overhead cost, miscellaneous purchases, or any non-initiative spending.
STEMchain has partnered with STEM.org, Coded By Kids and Carrot. They are working on a substantial pipeline of additional partner organizations and large scale funders (foundations, corporations and
family offices) to join the ecosySTEM.
In addition to increased transparency, donors benefit from the STEMchain Matching Pool, which matches all donations on a 1:1 basis from STEMchain’s finite matching pool of 80 billion STEM coins
(“Matching Pool”). After the donation has been verified, STEMchain earmarks an equal amount of STEM coins from the Matching Pool and releases them to the partner organizations’ STEM coin wallet. The
matching pool maximizes a donor’s giving power, while simultaneously pushing the partnered organization closer to fully funding their initiative.
To ensure that the donation match is not manipulated, an algorithm continuously monitors the blockchain for partner organization transactions to check for any manipulation of the STEMchain’s
Partner organizations can also use STEM coins with vendors set up to accept STEM coins for the purchase of products and services. Donors can track their donations to the point of purchase, ensuring the donations are used according to the organization’s stated mission.
STEM organizations will have access to donations from the cryptocurrency market. The STEM coin funding will allow the organizations to continue utilizing their existing donation sources while
providing an outlet for additional funding.
In short, the Crypto STEM Initiative TM will facilitate the global cross-border cryptocurrency funding for numerous important STEM organizations to assist them in increasing their direct impact. The CSI
was designed to result in a multi-generational impact to ensure that advancements in STEM continue to shape our future.