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Author Topic: What will be the future of crowdfunding using cryptocurrencies?  (Read 107 times)
enisshkurti
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May 20, 2018, 08:59:04 PM
 #1

Crowdfunding isn’t a new way to make fundraise, but thanks to the technology there were huge innovations in the crowdfunding industry. As you know traditional crowdfunding platforms like GoFundMe, Kickstarter etc, make a fortune with their fees, what if some decentralized crowdfunding platform with take the lead. There are potential platforms which are already working toward that position at the moment, do you think they will?
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May 20, 2018, 10:37:16 PM
 #2

The crowdfunding platforms are in full evolution besides there are plenty of crowdfunding blockchains that have just been created such that the one I know well is fundition.
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May 27, 2018, 12:03:01 AM
 #3

The crowdfunding platforms are in full evolution besides there are plenty of crowdfunding blockchains that have just been created such that the one I know well is fundition.

Definitely I am in the same opinion with you, the crowdfunding blockchains should be the future too
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May 27, 2018, 12:20:03 AM
 #4

ICO's will dramatically reduce in their popularity, because most of the time there's no reason to issue any tokens, they are there to just lure greedy investors who expect quick returns. With crowdfunding people get the product instead of shares or stocks, so again, there's no need for tokens.

I don't thing that there's some huge need for decentralization for crowdfunding, the platforms are not a problem most of the time, the biggest problem in crowdfunding is the lack of responsibility, there are tons of scammers grabbing money and not delivering their promises or setting up unrealistic goals in the first place. Decentralization would actually make it worse, because there will be no centralized moderation, so people will have to rely on community and their own judgement, and this doesn't always work well - ICO's are a great example to it.

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May 27, 2018, 12:28:52 AM
 #5

ICO's will dramatically reduce in their popularity, because most of the time there's no reason to issue any tokens, they are there to just lure greedy investors who expect quick returns. With crowdfunding people get the product instead of shares or stocks, so again, there's no need for tokens.

I don't thing that there's some huge need for decentralization for crowdfunding, the platforms are not a problem most of the time, the biggest problem in crowdfunding is the lack of responsibility, there are tons of scammers grabbing money and not delivering their promises or setting up unrealistic goals in the first place. Decentralization would actually make it worse, because there will be no centralized moderation, so people will have to rely on community and their own judgement, and this doesn't always work well - ICO's are a great example to it.

I appreciate for your answer, ICO's can be a good ROI for some real projects but anyways, I dont want to get out of the borders of crowdfunding topic.
Actually there are many problems with the traditional crowdfunding platforms such as GoFundMe,Indegogo,Patreon etc. And yes they are centralized, let me explain to you what are the problems, and what can be the solutions for this.

First of all they have so high fees, from 5 to 15% + the payment fee + some taxes.
Not everybody can start a project on the crowdfunding platforms, there are many restrictions.
Because of the centralization , the moderators can give a visibility to the projects that they want by putting them in a front pages.
They do not do anything to prevent the scammers, and many more problems.

So me and my team created a first decentralized crowdfunding platform based on Steem Blockchain that will be a solution to this problems.
First by bringing innovation to the traditional platforms, since they have not been changed at all since their initial launch for about 11 years.

How is this innovation?

- By using blockchain and cryptocurrencies, and the most important part is by having 0 fees.
- For prevention of scammers we built up a community with more than 500 members, that are working and collaborating, because our main goal is not only funding but sharing the love in the collaborative way.
- We made crowdfunding playable, people share hearts and love instead of money and cryptocurrency and many more changes.

And we believe in our project, and this will be the competitor of many traditional crowdfunding projects.
But thank you for your answer, we are aware that decentralization can be scary sometimes, but this is a great solution for changing this industry, let me know what you think.
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May 27, 2018, 06:07:34 AM
 #6

The future if ICO is slowly declining with people reporting they're getting scam with such platforms some government's already planned to put regulations in order to capture guys making crowd funding schemes even Google and facebook are planning on banning advertisement of ICO's.














 

 

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May 29, 2018, 04:43:56 AM
 #7

traditional crowdfunding platforms like GoFundMe, Kickstarter etc, make a fortune with their fees, what if some decentralized crowdfunding platform with take the lead. There are potential platforms which are already working toward that position at the moment, do you think they will?

Coinbase said they working towards goals other than crowdfunding atm.

I think that there are already social media personalities on twitter, facebook, instagram and elsewhere who accept bitcoin donations. That's likely the closest anyone has come to utilizing crypto inside a crowd funding paradigm. There may be no need for a crypto based crowdfunding platform given anyone with a bitcoin address can post on social media and that in itself is more than enough information for anyone to donate to their cause. The structure of trust-less crypto transactions could eliminate crowdfunding platforms.

A website for crowdfunding via crypto could be good in that it could organize and index the various personalities, projects and causes a person can donate crypto towards. Other than that, there may not be much need for a platform and it could be more efficient for individual projects and people to simply utilize their personal bitcoin accounts, rather than give a percentage to an internet platform.

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May 29, 2018, 05:36:08 AM
 #8

When ICO will have really good regulations, amount of this type of projects will diminish
But it will be cool projects, where we can invest without fear
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June 17, 2018, 06:43:51 PM
 #9

now this crowdfunding is categorized in a systematic manner called ico ico are today crowdfunding crypto currencies often called as Tokens
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June 17, 2018, 07:10:38 PM
 #10

ICO's will dramatically reduce in their popularity, because most of the time there's no reason to issue any tokens, they are there to just lure greedy investors who expect quick returns. With crowdfunding people get the product instead of shares or stocks, so again, there's no need for tokens.

I don't thing that there's some huge need for decentralization for crowdfunding, the platforms are not a problem most of the time, the biggest problem in crowdfunding is the lack of responsibility, there are tons of scammers grabbing money and not delivering their promises or setting up unrealistic goals in the first place. Decentralization would actually make it worse, because there will be no centralized moderation, so people will have to rely on community and their own judgement, and this doesn't always work well - ICO's are a great example to it.
What is missing here is the authority support. Basically one can easily raise money through an ICO and cheat upon the fund providers by merely fleeing away because actually he has not been bound in any contractual responsibility as to the ICO. In the IPO of stocks the company is bound to repay the shareholders money in case of liquidation and these funds are called the Share Capital and shown as liability while the same isnt prevailing in the cryptos. I think some institution must be created which should have the authority to formulate rules which must be followed by the companies and these companies must also prepare a sort of financial statements to actually show out how they have spent their raised money and what is their future plan for spending the rest of money. Because transparency in these ICOs is absolutely missing best we can rely currently is on their telegram channels which are not a concrete source of information.


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June 17, 2018, 08:04:33 PM
 #11

Crowdfunding isn’t a new way to make fundraise, but thanks to the technology there were huge innovations in the crowdfunding industry. As you know traditional crowdfunding platforms like GoFundMe, Kickstarter etc, make a fortune with their fees, what if some decentralized crowdfunding platform with take the lead. There are potential platforms which are already working toward that position at the moment, do you think they will?
Anything that involves funding on a global scale would certainly benefit from bitcoin.

The fact is simply that you don't need to deal with a lot of the hassles that you would otherwise need to deal with when using fiat, the most prominent of which is probably just the foreign exchange rates, fees of payment processors, and the times needed in order for the funds to clear.

It would definitely make a lot of sense to use bitcoin in the future if crowdfunding services would like to increase their global appeal. It's as simple as that.

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July 13, 2018, 02:52:20 AM
 #12

Ever since taking loans from banks has become more and more difficult, startups began crowdfunding. Put simply, crowdfunding is a method for raising money for your business or idea with the collective efforts of other individuals. They can be your family, friends or just about anyone who is willing to back your project in return for a piece of the pie. You can feature an end product, service or even a simple “thank you,” depending on the amount of money pledged. You as the campaign creator are the deciding factor.
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July 13, 2018, 03:35:14 AM
 #13

I mean I don't think it's something that really matters in the least, the only thing that Crypto COULD do for the cause is to make it easier to be and stay anonymous when contributing to peoples issues and such. Plus (I guess) it could stop the censorship that GoFundMe, Kickstarter, and these other companies impose on the projects that are on their site. I don't think this is the biggest place for Crypto to dent and get into, but I do suppose it still is something.

The future if ICO is slowly declining with people reporting they're getting scam with such platforms some government's already planned to put regulations in order to capture guys making crowd funding schemes even Google and facebook are planning on banning advertisement of ICO's.

Not everything is relating to an ICO.


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July 13, 2018, 04:17:03 AM
 #14

Ever since taking loans from banks has become more and more difficult, startups began crowdfunding. Put simply, crowdfunding is a method for raising money for your business or idea with the collective efforts of other individuals. They can be your family, friends or just about anyone who is willing to back your project in return for a piece of the pie. You can feature an end product, service or even a simple “thank you,” depending on the amount of money pledged. You as the campaign creator are the deciding factor.

It is better to have crowdfunding through cryptocurrencies than fiat because at least in cryptocurrencies, the transfer of funds is transparent so people would not be suspected of fraud and the ease of transfer is more advantageous as well. I can see that in the future, more people will use crypto instead of fiat especially when it comes to building a project because of transparency and efficiency. Transaction fees would not be that expensive too when it comes to global funding.

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July 13, 2018, 10:11:48 AM
 #15

I'm thinking that I see all projects for now it is something similar to Kickstarter, because you're having that Dream of yours and you will be trying to accomplish it by getting money from any of investors around.

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July 14, 2018, 05:45:20 PM
 #16

In my opinion we will see the more and more technical, perfect in marketing and realizing project if people in general become more educated about process of choosing ICOs.  Wink Here is very interesting project in which I'm willing to participate - https://medium.com/@kelvinchain/the-post-quantum-era-of-blockchain-todays-solutions-for-the-world-of-tomorrow-16bdd970f49a
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August 03, 2018, 09:28:56 PM
 #17

I'm thinking that I see all projects for now it is something similar to Kickstarter, because you're having that Dream of yours and you will be trying to accomplish it by getting money from any of investors around.
The near future is not likely to raise capital. There are still many uncertainties in the market. The new investors are still confused and uncertain. And hopefully in the distant future, it will stabilize again so that the community has the opportunity to eagerly invest.

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