You’ve already seen us countless times talking about crowdfunding and blockchain. One consists of collective financing and the other on the transfer of information without intermediaries. What would happen if we combine these two elements? A startup has already done it. And it’s called WHIRL, a crowdfunding platform with blockchain technology.
WHIRL: The crowdfunding startup with blockchain technology
During 2018 the news spread that a crowdfunding platform with blockchain had come to the market. Before entering the subject, we’ll explain briefly for those who don’t yet know what blockchain is. The blockchain consists of the transfer of information (in this case money) without intermediaries through the Internet.
This technology has become popular because it’s decentralized. That inspired the creation of WHIRL, a crowdfunding platform that works with blockchain. One of the main reasons was to allow everyone to make contributions. Regardless of the geographical location and the currency they use in their country.
WHIRL seeks to be a social platform on which projects of all kinds can enter. Art, education, science, health, etc. It was co-founded by Roel Wolfert, a pioneer and expert in digital payments and Martijn Hekman, who has brought humanitarian aid to more than 15 countries around the world.
After many years of research, these men and their team decided to launch their idea to the market. As the first crowdfunding platform with blockchain that generates confidence in the Internet community. But this platform has even more interesting things.
Specialties of WHIRL and its platform
The creators of WHIRL didn’t stay behind and decided to add quite particular elements. One of them is “karma”, a system similar to what other platforms like Reddit have. In which users who make contributions to other campaigns increase a “score” they have.
This score would more or less equal the user’s reputation on the platform. And the more “karma” there is, the more chances that this user can create a successful campaign. And at the same time, this is used to motivate users to support other campaigns. But above all, make them support social causes of all kinds.
Another particularity of karma in WHIRL is that it’ll determine when your campaign will be launched and how much you can raise. Based on your level of karma, which, as we said before, rises when you make contributions to other campaigns. This is inspired by historic community giving pools.
This platform, as you’ve already guessed, works through cryptocurrencies. And it accepts 12 of them, among which are the Bitcoin, the Dash and the Ethereum. Thanks to this, it’s possible to make contributions from anywhere in the world. WHIRL seeks to place crowdfunding in the hands of foundations/nonprofits that haven’t been able to use it due to geographical and banking limits.
It’s not easy to talk about this startup without skipping some details. WHIRL has proven to be a clearly innovative business that combines the world of cryptocurrencies and blockchain with the possibilities offered by crowdfunding. Which has made it a favorite of people within these communities.
Thank you very much for reading this entry, we hope you liked it! If so, we invite you to share it on social networks with your friends. That way, you share interesting content with them and help us reach more people.
What do you think of WHIRL…?
Illustration used for the entry’s featured image by Medium