Funding Through Your Own ICO Could Bypass Limitations, Costs of Crowdfunding

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Forget crowdfunding, it’s time to talk about about Blockchain-based, or ICO funding.  A new platform called Acorn aims to create a way for people to create their own ICOs to fund their projects.  This funding technique has a number of advantages, including allowing people to microfund, eliminating a lot of user fees on current crowdfunding platforms, and creating censor-free sources for funding that won’t be at risk to the personal and/or political tendencies of the individuals that control and manage the crowdfunding platforms.

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Goodbye Kickstarter? The Blockchain-based Project Aims to Challenge the Crowdfunding Sector

A new Ethereum Blockchain based platform called Acorn seeks to create an open, global community and marketplace for crowdfunding- opening it up to new participants such as those living in developing countries.

By incorporating P2P smart contract based governance, Acorn plans to supersede the current roster of crowdfunding platforms, and offer a service which will overcome geographic, political and economic borders. It also intends to mitigate any issues that may otherwise arise from cross-national jurisdiction and litigation.

According to the project’s team, use of the decentralized Blockchain for transaction verification/storage and a proprietary token currency (Acorn, ‘OAK’) means that “Acorn can bypass local taxation that would otherwise apply.”

“By funding through an ICO, and utilizing the Ethereum Blockchain, the Acorn Collective will eradicate the traditional three to five percent transaction fees and five percent platforms fees normally associated with other crowdfunding platforms, such as Kickstarter and Indiegogo,” the Acorn white paper states.

Acorn Hub thus incorporates all aspects of the platform’s crowdfunding infrastructure. However, the coin economy promises to deliver a handful of significant and related essential services. The Acorn marketplace for post funding product sales, without fees is one of them. Other services include marketing support and POS payments app allowing OAK transactions via smartphone.

Read More at Coin Telegraph
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About Paul Gordon 2346 Articles
Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines. He is the director of Social Cognito, an SEO/Web Marketing Company. You can reach Paul at pg@istate.tv