SINGAPORE, June 26, 2018 /PRNewswire/ --
Boomstarter, the biggest platform in Eastern Europe for crowdfunding business and
technology ideas, is preparing to launch a new service using
blockchain that will be made available across the world.
Headquartered in Singapore, the
platform will make transactions faster and more transparent, unite
communities across the world, and offer users the option not only
to pitch in funds using digital currency, but also by
cryptocurrency mining.
By using blockchain technology, Boomstarter.Network aims to
remove various challenges and limitations constraining existing
crowdfunding services.
A key priority is to remove country restrictions. The world's
leading fundraising platforms do not allow users to launch
crowdfunding campaigns if they reside outside a very limited number
of developed industrialized countries.
Boomstarter.Network essentially aims to democratize crowdfunding
by giving people in any country the ability to launch their own
projects. The use of cryptocurrencies on Boomstarter.Network will
also allow contributors worldwide to support their chosen
causes.
Funds will be transferred from contributors to recipients
quickly. Transactions will take a matter of minutes, while on
existing platforms it can take weeks for funds to be sent and
withdrawn.
Boomstarter.Network will also make it possible to support
projects by mining for cryptocurrency. The platform will provide
contributors with a safe and easy tool for generating virtual
currency using just their personal computers. They will be able to
retain part of the digital assets they have created and also use
them to support their favourite fundraising causes on the
platform.
"We have been operating in the crowdfunding space for six years
and we know the challenges that this scene is facing globally. Now
with blockchain technology we are able to offer solutions to these
shortcomings and provide access to crowdfunding worldwide," said
Maria Dokshina, a certified fundraising professional and CEO of
Boomstarter.Network.
The platform will use smart contracts based on Ethereum
blockchain to ensure trust and transparency. These are computer
algorithms that will guarantee people raising funds automatically
receive the amounts they are due when their preset fundraising goal
is reached.
Blockchain technology also offers transparency on how project
authors use the funds they have raised. This will allow the
community of contributors to track and offer feedback on how
project creators have allocated the money they have collected to
develop their product.