Avacus offers cryptotokens to users making donations to WHO

In the midst of COVID-19 outbreak, a startup in Japan has created a new scheme to make donations to World Health Organization (WHO). Avacus Inc. is a Japanese software engineering company based in Nagoya, Aichi prefecture. The company provides a platform for users to make transactions using crypto assets without exchanging it to fiat currency.

Using Avacus, from consumers to businesses

A typical method of using the Avacus platform is to shop at Amazon. Avacus serves as a matching platform for users who want to shop using Bitcoin and others who want to earn Bitcoin. Users who register on Avacus can use Bitcoin to shop at Amazon (this user is called ‘shopper’) by requesting a ‘buyer’ to make the payment for the shopper. Avacus will then collect Bitcoin from the shopper and send it to the buyer for making the payments on Amazon. Avacus works as an intermediary agent to make the transaction easy and reliable, which is called escrow service, and the company profits from commission.

In this case, a major crypto asset called Bitcoin is used for the transaction, but Avacus also distributes its original crypto token called ‘VACUS.’ Unlike Bitcoin and other crypto assets, tokens are not currency and don’t require blockchain to issue them. A token is a form of contract and can represent any type of value. Transparency, efficiency and low management costs are its strong points. Therefore, tokens like VACUS are suited for ICO (Initial Coin Offering); raising fund for starting new business or creating value. By creating crypto tokens, Avacus wants to connect investors and entrepreneurs, and increase the chances of creating new business models.

Allowing anyone to donate to WHO through Avacus

Avacus will award $25 worth of VACUS to every person who donates $25 to WHO and register for Avacus. This program will give economic incentives to those who already invest on ICO or crypto assets, and also for those who have not yet started investing on these financial instruments. WHO works to promote universal health by providing essential services, medicines and by training the health workforce. Their support is particularly critical for the vulnerable, and during this difficult time the world is facing today, this donation is one option to contribute to saving lives and livelihoods across the world.