• Wed. Jul 17th, 2024

Crowdfuning Platform Kickstarter Announces To Integrate Blockchain Technology

Phillip Seefeldt

ByPhillip Seefeldt

Dec 28, 2021

Kickstarter (a platform for crowdfunding) has made a declaration stating that the organization will shortly incorporate the main service thereof through blockchain technology. The platform will utilize the blockchain called Celo for crowdfunding.

Kickstarter will transfer to blockchain

Kickstarter states to develop a decentralized form of the core functionality thereof that will go live on an open blockchain. The firm mentioned that it will be made easy by the blockchain to provide a reward for participation in the latest methods as well as it will additionally permit the collaboration of different software components and protocols.

The venue of Kickstarter will be by default incorporated on Celo – a DeFi blockchain venue that is focused on mobile. The company additionally centered the attention thereof towards the carbon-negative characteristics of Celo, along with the point that it depends on proof-of-stake as well as utilizes the token thereof to counterbalance the greenhouse gas discharge.

Blockchain to include governance features

Moreover, Kickstarter will construct a lab for governance to assist in straightening the protocol’s development. The company pointed out the expansion of substitutive governance models as well as asserted that there is a significant opportunity available for the advancement of such efforts to utilize the technology of blockchain.

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Although this will include voting rights, Kickstarter did not specify if it would construct its governance token for the respective purpose. The additional details have been disclosed in its whitepaper which would expectedly be published on the behalf of the firm during the forthcoming weeks.

The modifications at the back of the picture

The development will be carried out by an autonomous institution named Kickstarter PBC. The firm Kickstarter will itself afterward be evolved into this venue, though in a mode that functions at the back of the scenario. Kickstarter elaborated this in a blog post thereof while focusing that the general consumer base of the firm will have the same experience as before.

It added that the users thereof will take advantage out of the improvements of blockchain. Kickstarter, having its foundation laid in 2009, has handled up to $6B of the promises for nearly 200,000 programs. Apart from GoFundMe and Patreon, it is considered to be among the biggest venues for funds creation. The organization’s closest competitors in the blockchain field are presently the monetization venues such as Gitcoin and Coil, along with particular Crowdfunding DAOs like ConstitutionDAO.

Phillip Seefeldt

Phillip Seefeldt

Phillip Seefeldt is a skilled and perceptive news writer known for his comprehensive analysis and engaging writing style. With a commitment to accuracy and a deep understanding of current affairs, his articles provide readers with insightful perspectives and thought-provoking insights.

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