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September 12, 2018, 07:25:29 AM |
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The Next-Generation Crowdfunding Marketplace
The blockchain revolution has touched nearly every market in our global economy, from crypto-based ride-sharing apps to the Internet of Things (IoT). For pretty much every sector that exists in the worldwide marketplace, blockchain technology has the power to improve and simplify the way that things currently are. It’s all thanks to the hard-working and forward-thinking cryptocurrency innovators who are figuring out exactly how decentralized networks and smart contracts can make our lives easier — especially the lives of aspiring entrepreneurs.
The problem with old-school crowdfunding
Over the past decade or so, hopeful inexperienced business owners and people with great project ideas have been able to turn to crowdfunding sites — like GoFundMe or Kickstarter — in order to generate enough money to launch their ventures. It’s been a very successful method of pooling a bunch of bite-sized funds together from all over the world that otherwise would never have been contributed.
But there are drawbacks to conventional, centralized crowdfunding platforms like the popular ones just mentioned. With corporate-owned websites that facilitate wide-scale fund sourcing campaigns, which have already launched countless successful businesses and charitable projects, the fees can get frivolously high.
The top players in the industry typically charge up to 5% in fees just to crowdfund, and they can also levy a 3%-5% additional fee for each individual investor that wants to chip in. Moreover, these platforms allow entrepreneurs to give some sort of incentive for investing and also allow equity crowdfunding (where you get shares of the startup) — but there is no efficient way of guaranteeing that the recipient gets a hold of their stake in the company.
The blockchain-based future of startup funding
Yang (YNN), an early-stage blockchain-based investing platform, has been in development as a solution to these problems: a token-based crowdfunding platform that puts business-owning opportunities into the lives of aspiring entrepreneurs all over the world. The operation behind this upcoming marketplace, YangGlobal, is fully focused on making financial empowerment a possibility for the global masses — and achieving it by rethinking how crowdfunding is done.
With this next-generation startup funding marketplace, business ideas are funded via newly-launched tokens on the Yang (YNN) network. Any startup organization, or even single hopeful entrepreneur, can tokenize their project or business venture: their operation is divided up into tokens that investors can purchase as a stake in the company.
After YangGlobal approves the idea, they will then build an expertly-crafted smart contract that allows the freshly-created tokens to represent shares of the business or project.
Check out how the asset investment chain works within the Yang (YNN) network:
Investors can use either Ethereum (ETH) or Bitcoin (BTC) to secure their stake in an asset, while asset owners receive their payments via a combination of Yang Tokens (YNN), fiat cash transfers, and Bitcoin (BTC) — on top of a dividend payment. The entire process is secured through YNN smart contracts, thus ensuring that the investment transaction is executed flawlessly end-to-end.
It’s a blockchain-based method of helping business dreamer’s jumpstart their companies while investors get the security and reliability of the Yang (YNN) network to guarantee the authenticity of their investments.
It will be the future go-to platform for small business owners in developing regions to expand their local operations, for startup ideas to become realities, and for anyone to be able to put their money safely into a high-potential venture — creating a new wave of opportunities for average, everyday people to accumulate long-term wealth.
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