Blockchain allows strangers across the world to engage in complicated financial transactions within a programmable framework of trust.
Crowdfunding is decentralized funding and innovation that aligns perfectly with the decentralized nature of blockchain technology, and it is an industry with key problems in the area of trust.
Pledgecamp utilizes blockchain technology to be the first to offer Backer Insurance, an escrow wallet framework that allows users to self-regulate without requiring intermediaries. A native token also incentivizes engagement with the platform, and aligns all users to act in the interests of the group as a whole. These improvements will be essential to fix crowdfunding as we move together towards a vision of global innovation.
Pledgecamp may not be the first crowdfunding platform or the first platform to integrate elements of blockchain, but Pledgecamp is the first to focus innovation on the fundamental model itself. Issues of trust and misaligned incentives are as prevalent today as they were a decade ago, and the Pledgecamp team has the crowdfunding experience and the A-list advisory team necessary to tackle the problem.
Some examples include Backer Insurance to protect users, a token-reward driven economy that engages and aligns user incentives, and a focus on supporting entrepreneurs before, during, and after campaigns with services and partnerships that entrepreneurs will not find on other platforms.
Backer Insurance is a mechanism that allows backers to hold creators accountable to their delivery promises, or else receive some financial remuneration. It is powered by a smart contract generated by each individual crowdfunding campaign and controlled by the users themselves.
Backer Insurance not only gives backers protection that never existed before, but incentivizes creators to be more prepared and transparent when creating their campaigns in the first place.