Digital Assets: Kickstarter’s Crowdfunding Platform To Move To Blockchain

December 10, 2021 | Digital Assets, News

The pioneering crowdfunding platform will build on the power of a large network of people with a common goal.

Kickstarter PBC, the crowdfunding platform founded in 2009, will rework its technological process and base it on the blockchain in a bid to “create a decentralized version of Kickstarter’s core functionality.” More details of the move would be available in a white paper to be released in the coming weeks. However, the new decentralized protocol would reside on the Celo blockchain, an open source and carbon negative blockchain platform. (The Verge)

Kickstarter also intends for the new platform to be an open source protocol that can be used by collaborators, independent contributors, and even competitors, from all over the world. They could even create rival crowdfunding platforms, so to speak.

A new, yet-to-be-named organization would take over the development of the protocol. Kickstarter would provide funding to this organization and undertake to be one of its earliest clients. Also on the anvil is an independent governance lab to publish research and engage with the community on the subject of protocol governance.

Users are assured that “the Kickstarter experience you’re familiar with will stay the same. You won’t “see” the protocol, but you will benefit from its improvements.”

Kickstarter: Why Celo?

“Celo’s efforts around minimizing environmental impact (and focus on global accessibility through mobile access to the blockchain), reminds us that the best way to get better systems is to build better systems,” says the announcement.

Kickstarter expects to move its existing site over onto the protocol in 2022.

Related Story: Square Inc, The Company, Renames Itself Block

Feature Image Credit: Flickr

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