A Finance DApp Review On Fundition: A Decentralized Crowdfunding Platform
Hey lovelies. Hope you all are doing good. I am going to make a review of Fundition, A Finance DApp platform which is a decentralized crowdfunding platform.
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Fundition is the next generation, peer-to-peer crowdfunding, decentralized and donation platform which brings project founders, followers and backers together. It's also a platform that has taken advantage of different innovations in technology so as to bring project founders together with funding investors without a middleman---- amazing right??
It's decentralized nature allows Fundition to eliminate all fees for the founder which at the later end gives the baker more of a share of the project, and allows a peer-to-peer relationship between the founder and the baker.
How To Start Using Fundition
Firstly, input https://purplepaper.fundition.io into your web browser and a page like the image below will show up
On there website page, there are different columns used in explaining there aims, plans, objectives, teams, e.t.c.
Main Components Of Fundition
Crowdfunding
There were always Founders, inventors, geniuses through the history of the humanity. Some did actually create, but for some it started with an idea and it stayed just an idea. Most of the time great ideas stay ideas due to the lack of funding as its sufficient funding that enable ideas to become products and projects. History shows us that it’s the Founders that innovate while the holders of the capital take the idea and earn the large profits leaving the Founders with little return on their idea. When partnering with investors the creatives have to meet targets set by the investors under strict guidelines and contracts, often the investors require the creative to provide reports and results which suffocates creativity.
Over the years, crowdfunding projects of fundition have generated billions of dollars thereby filling up the pockets of the investors and the shareholders at large corporations. The goal of fundition is not to eliminate centralized platforms but to improve on their model and bring more value to all stakeholders, whether backers or founders but there aim is to eliminate the middleman.
Problem To Solve
The recent ecosystem of crowdfunding platform serves to hinder different projects in various ways and one of the current platform puts pressure on founders and it allows them to only fund a project and that's if it reaches a targeted amount before an arbitrary deadline and if the founder doesn't reach his or her goal, their project receives nothing which is bad despite their efforts on all sides.
Another problem facing all major crowdfunding platforms is broken promises and the current one do not offer protection to backers because once the backers give to a project, most founders often fail to deliver on the sacred promises that they make to all their important funders.
The Solution Provided
Because of the reliability, security, and immutability of the blockchain, Fundition will use it to provide their solution. This platform will make it possible for ordinary individuals with no technical knowledge to start using the technology. They will be able to use it to give and receive tokens to support projects without any fees. The founder can choose to convert all their funds to fiat without learning about the blockchain or crypto.
Roadmap
Fundition is not a new system and I do love there operations and the teams are working together in achieving a goal. I love the platform in the sense that middleman will be eliminated and the centralized platforms will be improve through there platform. It's also a peer-to-peer crowdfunding platform.
The platform is great and I am introducing it to my friends too. So, there is nothing I dislike about the platform.
Conclusion
There are numerous benefits that is been provided by Fundition to users which includes access to the large Steem apps user base. Backers will also get rewards for giving because it's a peer-to-peer crowdfunding platform. It's also a platform that has taken advantage of different innovations in technology so as to bring project founders together with funding investors without a middleman.