Do you know that the crowdfunding ecosystem has emerged as a multibillion-dollar global industry?
According to research, crowdfunding materialized as a result of the financial crisis in 2008 which led to the difficulties encountered by early-stage enterprises striving to generate funding.
What started out as an online extension of financing by family and friends where communities donate money to fund members with great business conceptualization, has now turned into a multibillion-dollar industry and also enticing appreciable interest in developing economies. Experts have also predicted that the crowdfunding ecosystem will continue to witness the growth of enterprise, coupled with the rising need for product validation to keep customer trust. The crowdfunding system has so far grown since its conception in the early 2000s with an estimated global volume of USD 34billion. Notwithstanding, the possibility of reaching USD 90-96billion per year and even USD 1 trillion per year is highly visible.
The key major problems currently rocking the traditional crowdfunding system include fear of finance loss by project backers which stems from lack of trust, project founders face difficulties with getting support, and transparency. However, despite how beneficial crowdfunding is, it is disappointing to know that the industry is still only accessible by 1.9% in developing nations.
With this in mind, it is pertinent to say that the current crowdfunding ecosystem is in need of a total overhaul to address these issues holistically, and this can be achieved with the utilization of blockchain technology due to its derived benefits and functionalities.
In the bid to revolutionize the crowdfunding ecosystem, Acorn aims to leverage on blockchain to provide a fair and transparent platform that will not only address the current flaws in the industry but also support founders.
Acorn Collective went all out making various research on why the current problems exist in the crowdfunding ecosystem, and how best it can be addressed. It was also discovered that most developing countries have created certain restrictions due to little knowledge about the project, most people getting uncomfortable due to the fear of losing money, wondering how beneficial it is to them, and wondering how transparent the platform is amongst many other rising issues.
After all of these, Acorn Collective decided to adopt a different approach to solving the issues. First, making people know crowdfunding is simply the process of increasing many small contributions via an online funding platform to a substantial amount. They also figured getting every legal backing from these developing countries was necessary and then creating better publicity to bringing more people on board was also important. Unlike other platforms who will rather charge 5-10% for crowdfunding, it is absolutely FREE on Acorn Collective, thereby making crowdfunding accessible to everyone.
Also, for other issues as mentioned earlier, the acorn platform will run a full project transparency with the utilization of blockchain and transactions within the ecosystem will be consummated via OAK, an ethereum token, in order to build every founder’s confidence. There is no fear of losing money in crowdfunding as the platform was built on well-structured terms which also, provides benefitting and early incentives for backers and founders to join the platform and adopt the OAK token.
Acorn will provide an accommodating marketplace where the organization accepts and supports others rather than, rejecting and ignoring. The proposed platform is not just out to bring more people on board but also looks forward to building and sustaining the best crowdfunding system ever where founders and backers as the users are generally called, can benefit and be rewarded. The major goal is to lower and gradually eradicate the barriers facing crowdfunding coupled with the increasing number of low-quality projects in order to make them stand out.
TEAM
It is very important to meet the team behind this brainstorming and brilliant project which comprises of experts across various sectors such as corporate finance, engineering, marketing, business development, blockchain technology, administration, advertising and sales.
TOKEN ALLOCATION
The Acorn token (OAK) will be issued in the form of an ERC-20. It will function as a multi-utility token which will be used to fuel the acorn platform.
Total Supply: 65,000,000 OAK
Token symbol: OAK
Soft cap: 7,000,000 OAK
Hard cap: 25,000,000 OAK
Current Price: 1 OAK= 1.4 USD
Kindly visit https://www.aco.ai/ for more information.
Whitepaper: https://drive.google.com/file/d/0B1PbmmXatTeAODdsWUl4bmRJOW8/view
Twitter: https://medium.com/@Acorn.Collective
Telegram: https://t.me/joinchat/HI_eCBG0fCRCl1ja-d5JDg
Medium: https://medium.com/@Acorn.Collective