Having kept an eye on the altcoins for a good while I wasn't initially impressed by the claims of Faircoin.
There have been several coins issued attached to good causes but without a clear monetary function. The idea is usually to set up a cryptocurrency, premine some, market the brand and sell the premines for a good cause. In this, there is no consideration of what makes the coin a desirable purchase, and the coin is so useless i.e. unused and therefore unusable, that its purchase constitutes little more than a straight donation.
It seemed to me that Faircoin was something similar,...