Press Release: Toda.Network and Exponential, Inc. Form Joint Venture to Bring Transparency to Charit
Updated: Dec 26, 2018
Donations.OT ("On TODA" or "OT") will offer a white label solution to donation platforms and NGOs to help eliminate the trillions of dollars in leakage
San Francisco, California - Toda.Network Corp. an organization created to foster the growing ecosystem of blockchain companies built on the TODA protocol, is announcing a joint venture with Exponential, Inc. (XPO2), a cause-related marketing platform that seeks to maximize the Net Social Impact of contributions by linking contributors with small- to mid-sized, vetted non-governmental organizations (NGOs) and charities from around the world.
The joint venture, Donations.OT, will aim to ensure that there is accountability in the funding of charitable organizations, the platform will provide a white label product that can be customized to each organization’s branding and the also provide the ability to ensure that the funds collected from donors go where they are intended.
“Donations.OT will help to ensure that there is more transparency in the nonprofit sector, so that it will be clear where money is being spent. By bringing accountability to these organizations at a granular level we believe that more people will be encouraged to participate in these projects,” said Saul Bowden, Co-Founder of Donations.OT. “Further, by offering a white label solution, we can enable more NGOs and charitable organizations to offer this kind of transparency to their donor bases seamlessly.”
The Guardian reported that In 2012, developing countries received a total of $1.3tn, including all aid, investment, and income from abroad, but in the same year, $3.3tn also flowed out of those countries. Net outflows since 1980 reach total of $16.3tn. Interest payments alone make up more than $4.2tn of this total.
“Many Blockchains can enable irrefutable traceability; however, On TODA, the ongoing transaction cost will no longer extract wealth out of the emerging market. Instead, it is powered by the things that those areas have: smartphones, people and a network, nothing else. This will preserve wealth and accelerate their trajectory towards prosperity.” said Toufi Saliba, Co-Author of the TODA protocol and CEO of Toda.Network.
The TODA protocol is a network protocol, referred to in blockchain terminology as a “layer-zero” protocol that works as a foundational layer and serves as an evolution of TCP/IP. In network topology, TODA would be layer 3 and 4 combined, the same as TCP/IP.
“We chose to work with Toda.Network because the TODA protocol is the only fully-decentralized, distributed blockchain that is able to scale to billions of users, handle millions of transactions per second and costs just 0.1% per transaction, meaning that wealth remains in that economy and not sent to power miners, the cloud, databases, insurance, servers or anyone outside of that intended market,” added Bowden. “This is in contrast to ERC20-powered smart contracts that attempt to provide transparency. The problem with the ERC20 token is the transaction time as well as scalability problems that became very apparent during the crypto gold-rush. With TODA, we can reduce friction by over 99% and eliminate leakage of value, so building on TODA just made sense.”
The Donations.OT team plans to begin implementation with NGOs in Kenya, where they have completed previous work in the region. The team then plans to expand into other geographic areas.
The entire round of financing for the joint venture formed between Toda.Network and XPO2 was raised in a single effort, during a demo on Toda.Day on May 21, where 11 companies showcased their products built On TODA.
Donations.OT ("On TODA" or "OT") is a joint venture between Toda.Network and XPO2 that is focused on providing improved transparency for charitable donors by leveraging decentralized technology. This benefits consumers, corporate donors and NGOs by providing accountability and efficiency. Donations.OT plans to offer a white label solution for existing charities and donation platforms to seamlessly integrate to their operations. Learn more: https://www.toda.network/donations-ot
Toda.Network launched in 2018 to enable projects to deliver on the promises of the blockchain. The company has formed and continues to form and onboard alliances, startups and joint ventures that are building on the Toda.Network. The TODA Protocol is a network protocol and modification of TCP/IP that enables value management and transfer over the packet layer and below the operating system in a fully decentralized setting, without reliance on a ledger. TODA enables businesses and blockchains to efficiently scale as the numbers of users scales. Tested data shows 1 transaction per second (txps) for 800 devices dispersed geographically in a permissionless decentralized setting. This equates to a low of 1 Million txps for 800 Million user devices at only the cost of the network itself, with no leakage to a third party or to a different class of users. This means no miners, no cloud, no database, and no servers - nothing in the middle. Toda.Network’s focus is security first, then efficiency, confidentiality, scalability by design and enabling P2P interoperability with no third party. The TODA Protocol is permissionless, so anyone can build on it. However, leveraging Toda.Network's "know how" is available only to projects with significant potential by either licensing or creating a strategic alliance with Toda.Network