The fundamental pursuit of most organizations and businesses is profit. Profit is the extra value available after all bills and short-term debts are paid. Without profit, an organization cannot pay its bills, cannot remain solvent, and cannot continue to function. Organizations in the cryptocurrency industry face these same realities in the pursuit of profit.

According to Crunchbase, there are 4,439 crypto-organizations in the world. Only 95 of these organizations are registered as nonprofits – most of which are foundations that support white papers and development settings for various blockchains, coins, tokens, and more. % of all crypto organizations intentionally making no profit.

One of the most recent companies to claim this non-profit award is Hi.com.

Hi.com is a newly launched portal with a strong focus on user education and building a crypto community. In an exclusive interview with DailyCoin.com, Hi.com co-founder Sean Rach talks about his organization’s mission.

We are a non-profit financial service. This means that our members, the people who buy our token, Hi Dollar, become members and those members are the only reason we exist. We are not looking to make a profit, we want to help our members and increase the value of our members. It’s not something you normally hear,

he said.

Rach explained that in the past, members were the most important focus for organizations such as credit unions and mutual aid societies.

This focus on members got lost along the way. The profit motive has pervaded state-owned companies, private companies, and even crypto firms. They talk a lot about the profit they make, and that profit comes from you and me. Our approach is that our members come first. They are actually the ones who benefit from our services, by buying more tokens they get different levels of membership and they get different benefits,

Rachel said.

Member benefits include no-obligation banking, high interest rate stakes, and 100 currencies to buy, sell or trade.

He went on to explain that his top priority was to develop financial literacy among all users of the Hi.com platform.

He also clarified that as a nonprofit, his organization is not averse to making money.

To be clear, when we say we are not a nonprofit, we are not a charity. We will cover our costs from any income, but any surplus we create will either be used to make better rates for our members or to provide additional benefits to members. Instead of being enthusiastic about saying “Hey, I made more profit with my client,” I’m actually looking for how can I make my members more valuable,

he said.

In addition to its unique positioning as a nonprofit entity, Rach says the organization is uniquely committed to driving the mass adoption of blockchain and decentralized finance by making membership as simple as possible. Hi.com.

We can get on board simply and literally in two seconds using chat messages. So currently we are available on both Telegram and WhatsApp and we have a web app, which is on web.hi.com. The last thing is that we are making daily rewards, creating a positive experience for users.

To create a little fun every day, you have to say “Hello” in the forum and you have to answer a funny question. Most of the time it’s something that gives you a little smile in the morning, maybe something you want to share with your friends,

he said.

They expect that the bulk of Hi.com’s growth will come through referrals among family and friends, adding social dynamics to the cryptocurrency experience.

As a “Hi” user, you earn a daily reward in our crypto chat messengers – [Telegram and WhatsApp]. You can earn more rewards if you refer your friends. That is, you get 50% of everything your downline referral network earns. So if I sponsor you you get an amount, let’s call it now it’s 2.5 hi dollars, I get 1.25 and then when you sponsor people I always get a little, a little, kinda all the way. And the members are really starting to see it, and it’s starting to add up. So it’s been a lot of fun so far.

On the reverse

• Hi.com’s nonprofit approach is unique, however, the pursuit of a rewards-based referral network appears to be a multilevel marketing (MLM) structure with limited downstream benefit other than joining. the network.
• While many businesses operate on an MLM model, it is very difficult to maintain as attrition tends to be very high.

Watch the full interview here:

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