Pledgecamp, a decentralized ecosystem made up of next-generation crowdfunding platforms is looking to protect the future of crowdfunding with blockchain-protected investments and token incentives.
Visually constructed by the designer of Slack and Coinbase, MetaLab, the platform is focused on empowering entrepreneurs while also making sure crowdfunding creators remain accountable for development milestones once projects are completed.
According to research, 85 percent of crowdfunding campaigns delay, 14 percent fail to deliver on their promises, and 67 percent of backers fail to invest for a second time.
Pledgecamp to the Rescue
In a bid to bring back the credibility of crowdfunding campaigns and make participants more confident in the system, Pledgecamp has launched a first-of-its-kind backer insurance solution, a financial framework that reduces risks for investors when they contribute in a project
Specifically, Pledgecamp has created a blockchain-based escrow service that holds the pledger’s funds, instead of the organizers of the project getting the whole money.
Funds are only released to the project organizer at the end of the campaign after investors must have voted either in favor of or against the project.
In essence, the system gives backers the option to tack back their funds from project organizers if they suspect any wrongdoing.
Pledgecamp will go live in Q3 of 2019, and the platform will be powered by Pledge Coin, a cryptocurrency designed to enable backers to earn rewards for participating and contributing in a crowdfunding project, allowing Pledgecamp to promote collaboration between creators and backers.
Other Exciting Features
The Pledgcamp ecosystem is built upon total transparency, absolute accountability, and active acceleration.
Credible campaign organizers carry out KYC procedures, while also placing security deposits. Backer funds are placed in escrow by smart contracts, making it possible for campaign promises and delivery deadlines to be monitored.
“At Pledgecamp, we strive to incorporate the benefits of blockchain technology into crowdfunding. Our primary mission is to restore trust, accountability, and collaboration in the crowdfunding world. By implementing a secure and trustworthy financial framework, crowdfunding can once again thrive and meet expectations, all while driving entrepreneurship and economic growth globally,” declared Jae Choi, CEO of Pledgecamp.