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A missing link in social giving: A SocialFi platform based on the gold standard

A missing link in social giving: A SocialFi platform based on the gold standard

#crypto
#blockchain
#social impact
Tanzania gets a local crypto exchange to provide fiat off-ramp for crypto donations.

The Fruits Eco-Blockchain Project is launching local crypto exchanges, starting with Tanzania, to address the challenges faced by the social giving landscape. The Fruits Gold Exchange Global (FGXG) crypto exchange aims to enable the conversion of donations received through the Fruits ecosystem into local currency, allowing people in need to benefit from crypto donations in their daily lives. The exchange will also serve as a fiat on-ramp, allowing users to swap local currency for crypto assets. The FGXG exchange will focus on its primary function and not offer derivative services to avoid potential regulatory issues. Additionally, the exchange will enable the exchange of crypto assets into physical gold-backed assets. The Fruits team has stabilized the value of its native token, FRTS, and plans to use it for cross-border remittances. Users will also receive Smile Coins as a gratitude reward when using FRTS for transactions, which can be donated to support sustainable development goals through Fruits' charity portal. Thanks Fruits Seed Tokens (TFSTs) can be generated and donated using Smile Coins. The team also plans to introduce a Gold Standard Stable Coin and Gold Ingot NFT that will be pegged 1:1 to gold. The Fruits team aims to contribute to financial inclusion, employment, and economic revitalization in Africa through its social finance platform based on the gold standard.


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