Harmony among charities of the world

FRTS is a platform that provides an ecosystem of services through an easy-to-use interface, connecting the different stakeholders in the non-profit space and ensuring transparency and traceability of all donations.

What’s New

Fruits Project Announces the Opening of its Global Trading Outlet shopping site [FGTO] . For full details, please click here.

BitMart has announced the listing of our Fruits Token (FRTS) on January 10, 2020.For full details, please click here.

Fruits Token (FRTS) to be listed on BitMart.
Please click here to get more infomation.

About

Foreword

Fruits belong to everybody. At the core of the Fruits Project is charity. Charity is a universal core value of all religions, as well as nations, even those that may be at odds with each other. It may be the only thing everybody can agree to agree with.

Abstract

FRTS is the cryptographic token that will become the preferred method to donate and to access the ecosystem of services provided by the FRTS platform. The widespread use of cryptocurrency will impact the way we donate in the future and FRTS is poised to play a leading role in this new era of fundraising.

The FRTS System

FRTS is a platform that provides an ecosystem of services through an easy-to-use interface, connecting the different stakeholders in the non-profit space and ensuring transparency and traceability of all donations. FRTS’ services include a payments gateway to make donations in any local currency, a wallet to facilitate currency storage and donation, an explorer to track donations, tools to connect donors with other actors and tools to build and run fundraising campaigns.

Who We are

The FRTS project is conceived and developed by T-SKY, a well-established enterprise software development company. Since its inception, T-SKY’s team of professionals has worked with many different charities some of which are listed below.

T-SKY based in HK. It is actively involved in charitable activities. T-SKY has developed the FRTS coin. To ensure every penny of donation money will be used effectively and honestly, T-SKY maintains a working relationship with General Reserve of Digital Assets Limited (GRDA), a Hong Kong-based trust company. GRDA is a registered company with a Hong Kong government regulated trust license. T-SKY’s company assets and its FRTS project will be managed and overseen by GRDA. T-SKY will cooperate with different charity organizations and companies to help those in need. Starting in Hong Kong and expanding to a global presence.

Fruits Coin

FRTS is the public token that will be distributed during the private discounted sale.

After the sale is completed, it will be awarded as a tracking and accountability token by participating charities that are part of the FRTS ecosystem. It cannot be bought or sold on public exchanges.

The FRTS coin forms the basis of all donations in the FRTS ecosystem. Financial donations whether in fiat or cryptocurrency are held in trust by GRDA trust company, with the donor receiving FRTS tokens that reflect his contribution and are later used to direct his donations to the causes of his choice. In this way, the FRTS token is the cornerstone of traceability and accountability in the FRTS system.

How it works

FRTS Coin

FRTS is the public token that will be distributed during the private discounted sale. After the sale is completed, it will be awarded as a tracking and accountability token by participating charities that are part of the FRTS ecosystem. It cannot be bought or sold on public exchanges.

Public Blockchain

The public chain is the publicly visible and trustless foundation of the FRTS system. As such it is the final arbiter of accountability in the FRTS system. The NEM public blockchain is supported by a large number of participating nodes around the world.

Private Blockchain

The private chain supports the following tokens, each representing a different form of value within the system. A private chain is only accessible to authorized users of the system and is not visible to anybody outside. A private chain has the advantages of high transaction throughput, zero fees, and confidentiality.

FRTS Chain

FRTS is a platform based on the NEM blockchain and powered by FRTS tokens. The platform provides an ecosystem of services through an easy-to-use interface, connecting various participants in the non-profit community and ensuring transparency and traceability of all donations.

Registration

Charities and other causes must register and be verified to receive donations through the FRTS platform. A unique public address is assigned to each charity or cause and allows the platform to track donations and monitor how and where funds are used. Charities and causes once registered and verified, will be able to share their public profiles, donations received, use of funds and updates on projects, etc.

Tracking Donations

The FRTS platform connects directly to the NEM blockchain to track FRTS transactions. This ensures full transparency on the use of the donated funds and records essential information such as donation amount, time and date, donor and recipient address and optionally name. Donors receive notifications for every step of the donation flow. This ensures a robust and straightforward solution to the transparency problem in the non-profit sector.

NEM

All transactions are permanently and immutably recorded on the NEM blockchain. The NEM platform was designed and built from the ground up for scale and speed. The NEM Supernode program ensures that the public chain can continue to grow without compromising throughput or stability and NEM’s architecture provides a secure and stable platform where the risks associated with so-called ‘smart contracts’ such as those used by other blockchains are avoided.

Procedural code

The NEM blockchain explicitly allows the secure registration and execution of procedural code. This adds a layer of security and effectiveness to donations, allowing the transfer of funds only to their intended recipients and according to clearly defined conditions being met. Charities will have templates of procedural code that can be easily customized to each campaign’s requirements.

Roadmap

Fruits Token

Token Distribution

The token generation event will create and distribute a maximum of 9 Billion FRTS.

15% Team

27% Private Sale

58% Treasury

Use of Funds

25% Product Development

30% Business Development and Strategic Partnerships

20% Communication and Marketing

15% Advisors & Early Backers

10% Reserve Funds

Meet the team

Team Members and Advisors

Edman Lam

Chief Executive Officer

Edman Lam has more than 22 years’ experience in the charitable, public and social services sectors.Before becoming Chief Executive Officer of the Fruits Project, he cofounded and was the lead curator and CEO of the children play therapy center supported by the Advance Children Medical and Education Foundation Limited (Society Reference No.:CI929044) and continued as its Director. He continuously supports many charity activities and organizations by donation and active participation in their operations, such as Sichuan Earthquake, Walk for Millions by The Community Chest, Salvation Army, UNICEF, and Hong Kong Red Cross.

He graduated from Police College with the honor of All Round Best Squad then joined the Hong Kong Police as a Police Constable. Besides being a public servant to serve the community and society, he actively participated in different NGOs and charity organizations as a volunteer, such as attending the program to bring love & care to the new immigrant families from Mainland China, especially single-parent families, organized by Mission To New Arrivals (Society Reference No: CI 0646093) and visited solitary elders in Hong Kong hosted by St James’ Settlement (Society Reference No.: CI 0099488).

Lo Chuen Fai Ivan

Chief Marketing Officer

Ivan currently works as an independent marketing and financial communicator. He has more than 20 years of Investor Relations, Corporate, and Marketing Communications experience. He has a Bachelor and Masters degree from Western Sydney University in Marketing, Certificate in Advanced Management Program from the University of California Berkeley, and an Executive Certificate in Event Management from the University of Technology, Sydney. He has been a member of the Chartered Institute of Marketing (CIM UK), Australia Institute of Marketing (AIM) and Hong Kong Institute of Marketing (HKIM) and Certified Practicing Marketer (CIM HK).

Ivan has worked in many large and well-known corporations, including Hong Kong Mass Transit Railway Corporation, Citigate, Dewe Rogerson UK and Publicis Dialog, in corporate communications, marketing, roadshows, image, and branding. His volunteer work in Hong Kong has included organizations such as Helping Hand, and Food Angle Hong Kong to service the live-alone elderly. He is actively engaged in the activities in China organized by Heifer Hong Kong.

Kensuke Yano

Chief Technical Officer

Kensuke has over 20 years of experience in IT programming. He is an expert at leading teams in the design and delivery of software products, specializing in AI programming, data mining, and application development. He has managed a wide range of operations, marketing, and sales analytics products, and most recently led a product management team in re platforming their application to operate on a private blockchain (project still in stealth mode).

Kensuke has a Masters degree from the Tokushima University Graduate School of Advanced Technology in Artificial Intelligence. He has taken a strong interest in volunteer activities as a college student. He joined the Rotaract Club, a volunteer organization under the auspices of the Rotary Club, and became the Chairman of the Tokushima Chapter which received numerous awards for being an exemplary volunteer and charity organization amongst those in Japan. Since then, he has remained committed to many volunteer activities throughout Southeast Asia.

Thomas Tseng

Director

Thomas has over 15 years’experience in IT, advertising and design. He has supported a school for disabled children with their IT needs, under the management of Hong Kong Red Cross (Society Reference No: CI 0646093). Thomas graduated in Computer Studies from the City University of Hong Kong. During his studies, he had been an active committee member of Rotaract Club, a charity organization (Society Reference No: CI 0646093) for young leaders to develop leadership and professional skills through servicing the community. One of the charity programs organized by Thomas and his team was “Care To Hospitalized Children”, which successfully brought love, care, and happiness to the children with serious illness who were required to stay in the hospital.

As a partner of World Vision Hong Kong, Thomas supported his sponsored children in vulnerable countries for many years. He is also involved in many charity activities organized by NGOs, such as UNICEF, Hong Kong Red Cross, and Save The Children and others.

Amanda Mo

Administrative Officer

Amanda has over 10 years of experience in the international trading industry, especially in the fashion and garment field. She fully managed the whole cycle of product development from idea generation to final products, and was also involved in new client development and handling existing client relationship. She is a graduate of the City University of Hong Kong, studied abroad in Osaka and graduated from Ueda College of Fashion, with working experience in Tokyo.

She was a committee member of Rotaract Club of City University of Hong Kong (a charitable organization) and organized some charitable and international activities with the team. She also hosted and joined some “Education Sponsorship Visiting Tours” to visit the children from poor families in mainland China, like those in Liuzhou City in Guangxi and Xuwen County, Zhanjiang City in Guangdong. In addition, she is involved in other charitable activities organized by NGOs, such as Tung Wah Group of Hospitals (Tax-Exempt Charity Ref No. 91/94), Hong Kong Cancer Fund (Tax-Exempt Charity Ref No. 91/2745), World Wide Fund For Nature Hong Kong (Tax-Exempt Charity Ref No. 91/1899).

Richard Izumi

Advisor

Richard is a US CPA with over 35 years experience in cross border transactions in the Pacific Rim, as well as initial public offerings. During his career, he has been a member of the BOD of publicly listed companies in the US and Asia, a partner at two of the Big Four accounting firms, and a trader at a global investment banking firm.

In the NPO arena, he has been the CEO and Chairman of the Board of a 3,000 student educational institution and led to its successful restructuring and a member of the BOD of a leading symphony orchestra in the Pacific Rim.

He is a graduate of the Marshall School of Business of the University of Southern California.

Kelvin Cheung

Advisor

Kelvin has more than 20 years of experience in system design and software development. He has previously worked with AxePay, FCB Canada and the Canadian Space Agency.

Kelvin was an early adopter of Bitcoin and since then he has founded a number of cryptocurrency related businesses, most recently launching a cryptocurrency mining box that uses solar energy.

Kelvin is currently advising a number of blockchain based startups.

Nigel Hughes

Advisor

Nigel is a hands-on ICO advisor and blockchain systems architect.

He played a leading role in the first successful ICO in the Philippines and is now engaged with a number of other projects in SE Asia.

He has been actively building new relationships in the blockchain space since 2014 and driving new projects to realize NEM’s vision of changing the way we use money.

He loves building relationships of trust and friendship within the crypto and blockchain space.

TITUS

Legal Advisor

+P: (852) 3702 0045

+F: (852) 3702 0175

+E: info@titus.com.hk

Suite 2302, 23/F, World Wide House, 19 Des Voeux Road, Central, Hong Kong

Beneficiary Organizations & Partners

Frequently Asked Questions

FRTS is the cryptographic token that will become the preferred method to donate and to access the ecosystem of services provided by the FRTS platform. The widespread use of cryptocurrency will impact the way we donate in the future and FRTS is poised to play a leading role in this new era of fundraising.

 

FRTS is a platform that provides an ecosystem of services through an easy-to-use interface, connecting the different stakeholders in the non-profit space and ensuring transparency and traceability of all donations. FRTS’ services include a payments gateway to make donations in any local currency, a wallet to facilitate currency storage and donation, an explorer to track donations, tools to connect donors with other actors and tools to build and run fundraising campaigns.

Cryptocurrency is a digital currency. Cryptocurrency or cryptographic token is built on and works through distributed ledger technology, typically a blockchain which is all but impervious to hacks or fraud. Our cryptographic token, FRTS is built on and works through NEM blockchain for donation and also transaction of goods in Global Trading Outlet (GTO).

Yes. The FRTS platform connects directly to the NEM blockchain to track FRTS transactions. This ensures full transparency on the use of the donated funds and records essential information such as donation amount, time and date, donor and recipient address and optionally name. Donors receive notifications for every step of the donation flow. This ensures a robust and straightforward solution to the transparency problem in the non-profit sector.

A dashboard application will enable all users of the system to view on-chain transactions such as donations received and goods, services and material paid for and received.

Off-chain, they can upload receipts, manage personal information, connect with other users, request documentary support for tax benefits and more.

Not everything needs to be on the blockchain. Charities can upload off-chain data such as project specific supporting documentation, receipts for supplies and shipping, photos and videos documenting their projects. All this is stored off-chain but is still verified immutably and publicly on the blockchain.

The FRTS project is conceived and developed by T-SKY, a well-established enterprise software development company. Since its inception, T-SKY’s team of professionals has worked with many different charities.

T-SKY based in Hong Kong. It is actively involved in charitable activities. T-SKY has developed the FRTS coin. To ensure every penny of donation money will be used effectively and honestly, T-SKY maintains a working relationship with General Reserve of Digital Assets Limited (GRDA), a Hong Kong-based trust company.

GRDA is a registered company with a Hong Kong government regulated trust license. T-SKY’s company assets and its FRTS project will be managed and overseen by GRDA. T-SKY will cooperate with different charity organizations and companies to help those in need. Starting in Hong Kong and expanding to a global presence.

T-SKY (HK) Company Limited

Unit 2, 4th Floor, Tower 2, Lippo Centre,

89 Queensway, Admiralty, Hong Kong

info@fruitsc.org

www.fruitsc.org

In Hong Kong, virtual currencies are considered to be noncash assets and, therefore, eligible to be treated as long-term capital gains property. Approved charitable donations not more than 35% of net assessable income are 100% deductible. An ‘approved charitable donation’ is a donation of money to any charitable institution or trust of a public character, which is exempt from tax under section 88 of the Inland Revenue Ordinance, or to the Government, for charitable purposes. (Section 2 of the Inland Revenue Ordinance)

In Japan, Individuals may generally deduct 100% of cash donations against their taxable income or take a tax credit of 40% of donations made, whichever is more advantageous to them. Regardless of which option they choose, their donations must be made to qualified NPOs, and the maximum amount of donations that qualifies as a deduction or credit is 40% of their taxable income. Corporations may deduct the lesser of 100% of cash donations to qualified NPOs or the allowable limit of deductible expenses of their taxable income as prescribed by the Corporation Tax Act.

In the FRTS platform, when Donor deposits money to buy FRTS coins in GRDA, 3% of the Total Amount would be deducted for administration fees and 7% of that will be donated to the charity organization chosen by the Donor from our list. Then the charity organization would issue a Tax Receipt to the Donor for Tax Deduction. The remaining 90% would be returned to the Donor in FRTS tokens. If the Donor decides to donate the FRTS tokens to a charity organization, Tax Receipt would be issued, too.

Yes. There is currently no legal restriction for people to buy cryptocurrency and use it for donations or payments in Hong Kong.

 

We have communicated with the attorneys in Hong Kong for legal advice and follow their guidelines and suggestions about cryptocurrency and the using of it for donations and payments.

Yes. We work with General Reserve of Digital Assets Limited (GRDA) to ensure the highest levels of protection for our cryptocurrency.

GRDA is an independent custodian house incorporated in Hong Kong and registered under the Hong Kong Trustee Ordinance and the Hong Kong Companies Ordinance. It is a regulated Designated Non-Financial Businesses and Professions (DNFBP) entity.

GRDA holds all funds securely and transparently. They can only be released by agreement of the receiving charity and the original donor.

All transactions are permanently and immutably recorded on the NEM blockchain. The NEM platform was designed and built from the ground up for scale and speed. The NEM Supernode program ensures that the public chain can continue to grow without compromising throughput or stability and NEM’s architecture provides a secure and stable platform where the risks associated with so-called ‘smart contracts’ such as those used by other blockchains are avoided. Results of transactions are recorded on-chain while procedural code is maintained off-chain. NEM’s private, permissioned blockchain allows for fine-grained control over data privacy with fast transaction speeds and zero fees.

The NEM blockchain has run reliably without a single fork or failure since 2014. The XEM token is actively traded and is number 14 on coinmarketcap.com at the time of writing. The NEM Foundation has a market capitalization of >$2.5 billion and a vibrant community of developers worldwide with many large-scale projects to demonstrate its reliability and performance.

Besides, the charity organizations on our list for donors to choose are all charitable institution or trust of a public character, which is exempt from tax under section 88 of the Inland Revenue Ordinance in Hong Kong.

FRTS is a platform that provides an ecosystem of services through an easy-to-use interface, connecting the different stakeholders in the non-profit space and ensuring transparency and traceability of all donations. FRTS’ services include a payments gateway to make donations in any local currency, a wallet to facilitate currency storage and donation, an explorer to track donations, tools to connect donors with other actors and tools to build and run fundraising campaigns.

 

FRTS is the only cryptographic token that could be used in Global Trading Outlet (GTO). GTO is a shopping website and an E-commerce platform where charity organizations, individuals, and companies can purchase goods using FRTS coins.

 

They can purchase all daily necessities such as food, beverages, fruits, rehabilitation products, health & food supplements, and stationery via the platform. By adopting initiatives and promoting the concept of environmental protection, GTO also works with various suppliers to donate and sell stock lots or end of line products at below cost on the website.

 

The primary objective of GTO is to respond to emergencies around the globe and to provide disaster relief services to massive scale catastrophes.

 

Another critical objective of GTO is to create a self-sustainable and efficient agricultural system for farmers in developing areas by trading agricultural products and homemade products, such as bags, baskets, and soaps.

 

GTO will donate all remaining income to charitable organizations after deduction of the administration fee and operational expenses.

 

Blockchain technology and the adoption of cryptocurrency now promise to transform the industry by providing transparency and accountability while enabling efficiency and cutting costs.

 

Charities will greatly benefit from blockchain technology. Although the benefits of transparency and the potential of cryptocurrency are clear, nonprofits are not always well positioned to embrace new technological initiatives. Typically, they are focused on their core business which is helping the recipients of charitable donations. They can however quickly see the benefits when they are introduced to the new technology, especially in a way which does not require any infrastructure investment on their part.

 

As we have seen, the benefits of applying distributed ledger technology to the non-profit sector are numerous. Donors will have more trust in the sector and, consequently, will be more willing to donate. To introduce transparency and traceability into the non-profit sector, we have devised FRTS, a NEM token that aims to become the preferred method to donate transparently on the blockchain. The adoption of cryptocurrencies will impact the way we donate in the future and FRTS will play a leading role in this new era of fundraising.

 

The FRTS coin forms the basis of all donations in the FRTS ecosystem. Financial donations whether in fiat or cryptocurrency are held in trust by GRDA trust company, with the donor receiving FRTS tokens that reflect his contribution and are later used to direct his donations to the causes of his choice. In this way, the FRTS token is the cornerstone of traceability and accountability in the FRTS system.

 

A charity that has accepted a donation is registered as a participant in the FRTS system and chooses to avail of the advantages of the system such as traceability and transparency can transfer the donation to the GRDA trust in exchange for FRTS tokens. These tokens are then transferred back to the original donor and form the mechanism by which the funds are tracked on their way from donor to final recipient. The donor has the opportunity to request that the funds be used for a specific project that he considers worthwhile and can follow their progress, request feedback and see the results as they pass through the system.

 

FRTS is a platform based on the NEM blockchain and powered by FRTS tokens.  The platform provides an ecosystem of services through an easy-to-use interface, connecting various participants in the non-profit community and ensuring transparency and traceability of all donations. Donors, charities, causes, projects and many more will benefit from the services provided by the FRTS platform. To simplify the donation process and increase FRTS adoption, FRTS will integrate several services into one single platform that includes a payment system to accept donations in fiat and crypto into the FRTS system, a wallet to store and manage these donations, an explorer to track donations and resources and an interactive fundraising campaign generator.

 

Charities and other causes must register and be verified to receive donations through the FRTS platform. A unique public address is assigned to each charity or cause and allows the platform to track donations and monitor how and where funds are used. Charities and causes once registered and verified, will be able to share their public profiles, donations received, use of funds and updates on projects, etc.