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Ethestvoworld | Ethstvoworld

“Ethstvo Blockchain combines the best aspects of modern crowdfunding2020”

Mar 7th 2020 at 10:10 AM

Crowdfunding has become a loaded term, meaning so much more than just raising money from the public. In fact, it means different things to different people. New and old terms are sometimes being used to describe the same or similar activities.

Crowdfunding is when businesses, organizations or individuals fund a project or venture with small donations from many people. Crowdfunding is a way for new and small businesses to raise funds by asking a large number of people for relatively small amounts of money.

There are many different crowdfunding platforms to choose from. Some very specific to a certain topic or a specific way of funding and some are more generic like Kickstarter or Indiegogo.

Crowdfunding represents a massive industry: 150,000 projects have been successfully funded on Kickstarter alone (source). Each year, billions of dollars flow hands between creators (those who create crowdfunding campaigns) and backers (those who pledge to these campaigns).

For many, particularly in regions without developed venture capital, the capital and market validation that comes with a successful crowdfunding campaign is the difference between an idea and starting a business.

 

But it’s not all rosy. Projects on popular sites go through little to no vetting, resulting in fraud and scams. And even many projects fail because the creators cannot reach their milestones. For example, when analyzed, more than 80% of projects ship late — and some never ship at all.

The current crowdfunding model also favors Americans and other Westerners. For instance, the assumption that people have regular access to debit cards and credit cards is not a problem in the West but poses a problem for future growth.

When looking at the trends, the World Bank estimates that China will contribute $50 billion to the global crowdfunding industry by 2025 — which represents 52% of the total global market! Clearly, paying close attention to the growth of the Asia Pacific region will be important in the coming years.

Ethstvo combines the best aspects of modern crowdfunding, online communities, and blockchain technology. Why blockchain technology? Well, the blockchain enables Ethstvo to add features and create an experience that is not possible today.

A healthy crowdfunding ecosystem has three constituents: the creators, the backers, and the community. Currently, there is a single exchange: a backer pledges funds to a campaign. All other interactions are of low engagement.

But, as anyone who has started a campaign or funded a project can tell you, there is much more that goes on. Leveraging on the blockchain, Ethstvo can incentivize backers to share regular updates and monetary rewards. Ethstvo is a decentralized crowdfunding platform, which is important for at least two key reasons.

P2P Payments: Current crowdfunding platforms rely on the conventional financial system. While this works well in certain parts of the world, it also leaves much to be desired for those in other regions. Utilizing blockchain tech, Ethstvo accepts payments in Ethereum.

As a result, Ethstvo is opening the crowdfunding to millions more around the world, including those who want to use crypto to avoid payment processing fees. Decentralized Platform: Ethstvo is decentralized, meaning that it’s owned by no one.

Start your crowdfunding today!

#letsETHtogethe #wedontbuywecrowdfund #Stopscam

#Ethstvo.io #Cryptocurency #Blockchain network

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