|By Business Wire||
|March 29, 2014 10:32 AM EDT||
Karmacoin.me today announced that its community members have raised funds for the Rancho Cucamonga Girl Scouts, who were recent victims of counterfeit currency fraud.
Earlier this month a man and a woman approached two Girl Scouts and purchased cookies with fake $50 bills. The same day at another location it happened again with more counterfeit bills. The Girl Scout troop lost $200 during the scam.
This is the first fundraiser for Karmafund.me, the charitable giving arm of the Karmacoin.me community, launched earlier this month. Karmafund.me’s mission is to provide gifts to community and social causes worldwide. The community raised enough money to cover the Girl Scouts’ loss in less than 24 hours.
“It’s perhaps a bit ironic that a digital currency would come to the rescue of the victims of a fake currency scam. This was probably why we were so compelled to help out. We wouldn’t want this incident to diminish the Girl Scouts’ mission of building courage, confidence, and character,” said Tony Sorel, Director of Karmacoin. “Our own motto is based on good deeds towards others, so both organizations share a common purpose.”
“Digital currencies like Karmacoin can be used for microtransactions and small donations. Traditionally, the cost of transferring small amounts of money is cost-prohibitive due to high fees involved. Using Karmacoin, anyone can send funds essentially free of charge to anyone else in the world,” said Mr. Sorel.
Karmacoin.me Key Features
- Secure and anonymous transfers
- Funds transacted in seconds and automatically verified in minutes
- Every transaction is recorded on a publicly-accessible ledger
- Credit card-like chargebacks are not possible, protecting merchants and charities
- Transaction costs for transfers essentially free
- Ability to transfer the digital wallet to paper
Founded in 2014, Karmacoin is a P2P digital currency, like Bitcoin. Its system is designed to be used as an incentive and reward mechanism for people, companies, and schools. The Karmacoin mission is to make it easy to send any amount of money to friends, family, co-workers, neighbors, students, employees, charities, and others over the Karmacoin network securely and reliably.
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