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RE: Steemit is True Crowdfunding: Setting the Stage for @bldgblox

in #crowdfunding7 years ago

Really interesting proposed project, I'm interested to see how this turns out.

A really cool feature would be if some of the funds were controlled by a smart contract that would only release more capital to the fundraising party if the community came to consensus that early milestone goals were reached. Otherwise, the unspent money could go back to the original contributors. This would prevent some of the disastrous mismanagement of money that goes on a lot of crowdfunding site, and protects the contributors more than anything in the space.

By making a handful of smart contract features, such a platform would have a HUGE competitive advantage over Kickstarter and Indigogo.