HomeBlockchainKickstarter: crowdfunding will take place on the Celo Blockchain

Kickstarter: crowdfunding will take place on the Celo Blockchain

Kickstarter, the well-known crowdfunding platform, has announced that it will become a decentralized protocol built on the Celo Blockchain. In the coming weeks, the new Whitepaper will be released. 

Kickstarter chooses Celo Blockchain 

Kickstarter has announced the migration of its platform onto Celo’s open source, carbon-negative Blockchain. 

“Kickstarter will move its crowdfunding platform to a blockchain”.

According to reports, the well-known crowdfunding platform for funding creative projects, Kickstarter has chosen to use the blockchain to honour its commitment to a more open, collaborative and decentralized future.

Here’s how they describe their choice of the Celo blockchain:

“We’ve chosen Celo, an open source and carbon negative blockchain platform, as the best technology and community on which to build the protocol. We’re inspired by the Celo ecosystem’s thoughtful approach to building the technology they want to see in the world. Like the internet in the early 1990s, the blockchain is a nascent technology whose story is not yet written. 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”.

Kickstarter and crowdfunding on blockchain

Crowdfunding on blockchain is Kickstarter’s new mission, and with this in mind, it has created an independent organization that will be dedicated to developing Kickstarter.com on the protocol. Users will not see the basic protocol, but they will be able to notice and benefit from the improvements that will be made with the new decentralized platform. 

Not only that, the platform is also creating a lab dedicated to developing the governance of the protocol, led by executive director and co-founder of the Purpose Foundation, Camille Canon. On that note, here’s how Kickstarter understands governance on the Blockchain:

“We are entering a significant moment for alternative governance models, and we think there’s an important opportunity to advance these efforts using the blockchain”.

Kick Starter was born in 2009 and has funded over 200,000 projects

The new whitepaper will be released in the coming weeks, perhaps already heading into 2022, and will outline all the plans for the protocol, outlining its technology. For now, the platform has revealed that Celo’s Blockchain crowdfunding protocol will be available to collaborators, independent contributors, and even Kickstarter competitors. 

First launched in 2009, Kickstarter has pledged more than $6 billion, funding over 200,000 creative projects that would otherwise never have been realized. These projects have been remarkably generative, creating some 750,000 part-time jobs, 80,000 full-time jobs, over 20,000 businesses and non-profits, and $13.5 billion in additional economic impact.

Public blockchain and decentralized crowdfunding

Kickstarter is not the first platform to choose to migrate to Blockchain to develop its protocol for decentralized crowdfunding. 

Just last month, Pomelo, EOS’s blockchain-based crowdfunding platform, was launched with the aim of bringing together developers and anyone with an idea and a project to develop. Not only that, to reward projects with the highest number of donors, Pomelo uses quadratic funding. 

Crowdfunding platforms have been experimenting with crypto and blockchain for years. 

Two years ago, for example, the equity crowdfunding platform Opstart, although not built on blockchain, had started accepting payments in Bitcoin, thanks to a partnership with Tinkl.it, a platform that helps companies accept BTC. A way for traditional crowdfunding platforms to approach the crypto and blockchain sector.

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.