Fundition.io set to change the crowdfunding system

faetee (59)in #fundition-io • 6 years ago (edited)

Crowdfunding has been existing for a long time now, it is not a new means of fundraising but thanks to technological breakthrough project founders has found it quite easier to raise funds for their projects. Because of the technological breakthrough the founders will not have to spend time looking for investors, all they have to do is to put more work in their projects. Crowdfunding is a way in which the founders and investors can come together without any intermediary.

According to the [purplepaperhttps://purplepaper.fundition.io) crowdfunding did not begin with the emergence of the crowdfunding platforms, it started existing a long time ago. For example, the Eiffel Tower (1887) and the Statue of Liberty (1886) were crowdfunding projects. For the net crowdfunding, it started in the early 2000. There was no platform at the time and the initiative to raise funds thanks to the crowd was made by Founders [project owners]. At the time, the Founders had to start their own crowdfunding websites, with nobody to give them tips on how to attract Backers.

About crowdfunding

There has always been founders and investors through the history of man. Projects are first birth as an idea and with resources [funds] it develops to be a product or project. There are lots of individual who has nice ideas but couldn't develop it because they lack the resources to do so, both idea and fund go hand-in-hand.

Crowdfunding project has generated billions of dollar over the past few years, which has rapidly increased the pocket size of both investors and shareholders in large corporations. Because of the centralized nature of the funding system the fee for minimal service keeps increasing

Currently the crowdfunding platforms look almost identical to their ancestors of 15 years ago because of the centralized nature. The goal of Fundition is not to eliminate these centralized platforms because they have changed the landscape for founders but rather their goal is to improve on their model, and bring more value to all stakeholders, whether backers or founders and eliminate the middleman.

Problems of the crowdfunding system

The current system of crowdfunding tends to hinder project in different ways, I'll outline few

One of the problem of the crowdfunding system is it tends to put much pressure on project founders because of the reach and target amount within a particular period of time before the project can be funded. If the project doesn't reach the target on or before the deadline it receives nothing despite the amount of time the founder has already placed in the project.
Broken promises is another major problem of the crowdfunding system. After backers has funded a project the founders usually fails to give back to the backers
Tax and fee rate. Most founders usually received 60-80 percent of the fund raised.

Fundition.io is here to provide solution to the crowdfunding problems and also improve the system to both benefit the founders and backers equally, fundition.io present a decentralized model of crowdfunding.

#What is fundition.io?
Fundition is a decentralized crowdfunding community who help individuals achieve their dreams by funding their charity projects.

What is the solution?

The solution is to decentralized crowdfunding platform that will allow users without a background knowledge of the blockchain technology or cryptocurrencies to begin using blockchain technology to atain, give, and receive cryptocurrency tokens, towards the support of founders, without any tax or fees. That user either being a founder[project owner] or backer[investors] can choose not to learn about blockchain or cryptocurrency, simply following instructions for converting their earnings to fiat, or they can choose to learn (as part of the platform) how to speak about and employ this cutting edge technology in novel ways.

See below the types of project proposal you could submit to fundition.io:
https://fundition.io//#!/@techtek/fk501ncfv

https://fundition.io//#!/@surfermarly/sc2t0haq7

https://fundition.io//#!/@leotrap/bcbq3ozsk

https://fundition.io/#!/@sndbox/1vynspan2

https://fundition.io//#!/@yanzel4lyf/zqp4hwaht

https://fundition.io//#!/@girlsfoundation/x9o36efzn

You can check other content here: https://fundition.io/#!/explore

The goals of fundition.io is to