Boomstarter.Network, one of the major platform in Eastern Europe producing pre-sales for startups, moves to blockchain to test a number of limits that obliges existing crowdfunding services.
Boomstarter.Network will let startups from all the country to promote their future products. They will allow to raise funds and find projects from any place.
It will provide a cryptocurrency mining tools that are very well safe to mine and help the users to use a digital currency to purchase products and services that a newly established business offers on the platform.
The company basically intends to democratize crowdfunding by providing users in any country the facility to begin their own product pre-sale. Transactions will take place in a matter of seconds for funds to be sent and will also make it possible to pre-order original products and support startups by mining for the cryptocurrency.
United as a cloud mining pool, they will be able to make digital assets and use them to pre-order and funding their favourite startups on the platform.
Blockchain technology offers clearness in how startups use the funds they have raised. Bitcoin is not accountable, indirectly or directly for any damage or loss caused or suspected to be caused by or in connection with the use of or dependence on any content, goods or services. This will let the community of those who pre-ordered to track and offer the response on how the businesspersons have allotted the money they have collected to develop their product.
The platform will use smart contracts based on Ethereum blockchain to safeguard trust and transparency. These are computer algorithms that will assure the users who will be raising funds automatically where they would receive the amounts they are due as and when their preset fundraising goal is reached.
According to Bitcoin News, the use of blockchain for transparent crowdfunding will not only boost measurement and analysis of user sentiment but it will also enhance the accountability.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]