London, UK – Impact Cardinals, an international non-profit organisation, is preparing the launch of the Basic Nutrition Token intending to eradicate one of the world’s most pressing and unsettling problems: Hunger.
The Basic Nutrition Token was created by 21-year-old Amina Touré, a French university student, to leverage blockchain technology and help improve food insecurities. Touré will study International Development and humanitarian emergencies next year at the London School of Economics, as she furthers her work in non-profits focusing on aiding regions of the world suffering from food insecurities.
The token will be sold as a philanthropic stablecoin, which has a value tied to an existing fiat currency. Although the Basic Nutrition Token is a type of cryptocurrency, it lacks the volatility of unstablecoins, which are at the whims of the markets and affected by speculators.
Impact Cardinals has tied the Basic Nutrition Token to the U.S. dollar, making 1BNT worth $1. Rather than using the funds generated through the sale of tokens for private enterprise, Impact Cardinals will use the funds to invest in U.S. bonds.
The bonds will draw interest and Impact Cardinals will use 100% of the interest to fund its food insecurity projects. Touré stresses that investors can remove their money from the Basic Nutrition Token at any time following an initial three months of investing.
Impact Cardinals has worked hard to build a strong tokenomics system (economy of the token) to support the project. The non-profit aims to be as transparent as possible, with investors. Moreover, the organisation will make zero profit from the stablecoin, as all money generated from sales will go to helping people.
The tokenomics is very important in this project, according to Touré. It will guide the entire development of the Basic Nutrition Token as an asset. The development team will ensure maximum security for the project to allay any fears over the use of blockchain.
The non-profit built the project around the concept of associate. Each individual investing at least $1 in the Basic Nutrition Token will be symbolically considered as an associate of the organisation. This will increase transparency. The individual will be considered as a stakeholder of the non-profit and will be able to participate in general assembly meetings to discuss and vote on different topics. Impact Cardinals wants to emphasise transparency and accountability to ensure investors are informed of every development and advancement of the organisation.
“The world has plenty of wealth and means to address the food issues it faces,” Touré said. “But there is a lack of desire by some individuals and countries to make a social impact. Impact Cardinals is determined to focus on the pressing issue of food insecurity because it could happen anywhere in the future.”
According to the Red Cross, food insecurities in Africa affect over 140 million people. A combination of reasons has made food scarce on the continent, including climate change, rising food prices, and conflict.
The non-profit organisation will use the Basic Nutrition Token to solve problems created by unequal resource distribution. To do this, Impact Cardinals’ first philanthropic mission is to establish off-ground farms. The farms will produce their own food to feed the local populations. The more people that will adopt the Basic Nutrition Tokens and used by investors, the more money Impact Cardinals will be able to use in various social impact projects to eradicate food insecurities.
Learn more about the non-profit organisation Impact Cardinals and the Basic Nutrition Token by visiting the official website.
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Media Contact
Company Name: Impact Cardinals
Contact Person: Amina Touré
Country: United Kingdom
Website: https://impactcardinals.com/
