Fundition: an improvement over traditional crowdfunding platforms thanks to the Steem blockchain
Finding support for good ideas can be challenging
Our current quality of life is the accumulative result of innovative ideas finding their way to the market and eventually to our own lives. Every product and service that we enjoy today and make our lives better started as nothing more than an idea in someone’s head, probably a person with a better vision as how the future should be, and how certain mechanisms could be improved.
It is never easy at the beginning finding support to develop a new idea or project, because from the backers point of view, identifying the future success of a particular initiative is never a bullet proof procedure and a lot of costly mistakes can happen, which is why having a lot of precaution is necessary when taking these decisions, besides there are also several factors that need to be taken into account in order to have good results in the future, and this leaves a lot of small scale projects with no attention and no support to continue developing their ideas unless they have the fortune of running a successful crowdfunding campaign.
The crowdfunding industry has become something extremely common thanks to the internet and how easy it is to find information literally from everywhere on the planet. The internet can make the world look small and this constant awareness of all types of information facilitates the involvement of individuals from any country in projects they find interesting and worthy of their support, resulting in a lot of people joining forces to help a particular cause. This allows for innovative ideas to evolve much faster, because now, literally any person can receive collective support from the society without having to go through the traditional methods like seeking loans.
Besides, crowdfunding also makes it possible to provide support to a wider variety of things, like different types of charities or social initiatives that are always in need of receiving voluntary help. However, as it is always the case with technology and everything related to the digital world, there is room for some improvements.
Crowdfunding and blockchain
It is clear by now that blockchain technology is capable of disrupting most if not every industry there is. Decentralized platforms can function in a more reliable way, and can offer a new generation of applications and mechanism that weren’t possible before. This of course, applies to crowdfunding platforms and here is when Fundition comes into action.
Fundition is a project looking to offer a more efficient way to provide support to any initiative based on its merit, which means, the more deserving and well thought the initiative is, the more support it shall receive.
With traditional crowdfunding platforms, there are always fees that reduce the amount of resources reaching the people behind the project, this is a particular example where using a blockchain platform can reduce friction in a dynamic and therefore, benefit everyone involved.
In the case of Fundition, the Steem blockchain is a perfect fit especially for 3 reasons:
- It doesn’t have fees, which means projects will receive the complete amount of resources that backers are sending.
- By leveraging SteemPower holdings (in Fundition it is also known as HeartPower) backers can assign value in the form of upvotes that results in tokens that can later be exchanged and used to make the project a reality.
- Fundition itself is also capable of giving substantial support to the best projects due to their considerable SteemPower delegation that so far has allow several initiatives to bring their ideas into the real world.
Some of the best initiatives that have found success thanks to Fundition are the following:
The Crypto Renaissance - A Steem Exhibition in NYC by @sndbox
This is probably one of the most professional exhibitions I have seen on Steem, which is no surprising at all knowing the expertise behind the @sndbox team.
As the name implies, this initiative consists in informing people about all the possibilities that blockchain in general and Steem in particular can provide, in their own words “The Crypto Renaissance is the first exhibition in New York City dedicated to creative and entrepreneurial work made on and through blockchain technology”.
Steem for the Kids | A Sports Plaza Powered by the Blockchain by @leotrap
This is a great example of a social initiative that is well deserving of substantial support from the community. We all know how healthy it is for kids to have a place where they can have fun playing sports and exercising their bodies, especially nowadays where it is very common to stay indoors playing video games or spending all day with our computers.
Blinkit | Standalone device - Fundition by @techtek
In this opportunity, the project is about a device that can give real time notifications from interactions in the Steem blockchain. Which is a clear example about a cool idea becoming reality thanks to the support from a crowdfunding community.
In the words of the people behind the project “This free opensource software can help you to get notified with sound and light about Steem actions such as new upvotes. The passion for creating devices, and do innovative things , and the Steem Blockchain, have let to the creations of Blinkit.”.
These 3 examples show the great variety of initiatives that can be supported, and there are many more successful examples that we can find here.
The truth is, crowdfunding can work better when approached with a decentralized platform in mind, especially one like Steem that has the 3 advantages mentioned before.
If you wish to know more about this project you can:
Visit fundition.io
Follow them on Steem at @fundition
And on other social medias like twitter , instagram , facebook , & youtube
In case you don’t have a Steem account, you can join through fundition here
Feel free to ask any question you might have, and to share your thoughts.
The Internet has, in many ways, removed the boundaries in the communication of people, of course not everywhere, there are countries with censorship of traffic.
There are indeed, although it is not very common.
Thanks for the post, dedicatedguy.
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I might have come across the crypto renaissance New York meetup group on meetup.com few months ago. I would have loved to attend but i am so far away.
It's amazing what Fundition will achieve in a few years. They could surpass commonly known crowdfinding projects in no time.
That would be amazing @pangoli, what's clear is that Fundition has certain advantages that are only possibly thanks to blockchain.
oh yeah, i know something about it.
Amazing piece of writing @dedicatedguy
The crowdfunding industry has also one huge enemy: our goverments as they simply fear money laundering. So to raise funds is extremly difficult.
Yours
Piotr
That's a factor that I had not thought about, thanks mate!
Thank you @dedicatedguy.
Thank you for being a loyal Funditian and helping spread the voice of Fundition all around, we really appreciate your efforts to try and promote Fundition. As a token of our gratitude, please accept this upvote from us. Take care and keep spreading the word about Fundition whenever you can, so, we can grow and help as many people as possible. We wish you all the best.
If you are reading this and you aren’t the author of this post, what are you waiting for, Join Fundition and let’s together make a change, a change that will make this World Better even Amazing !
Fundition is a next-generation, decentralized, peer-to-peer crowdfunding and collaboration platform, built on the Steem blockchain.
Read the full details of Fundition Fund program
Learn more about Fundition by reading our purplepaper
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