Crowdfunding is a method used by organizations or person’s inorder to generate funds for a project or venture by raising reasonable amount of money from a large number of people mostly via the Internet. Crowdfunding is an alternative source of financing. It is no news that over the years the gross importance of generating fund through this means has been tremendously high mostly noticable in blockchain industries through ICOs. Developing solid ventures or project can not be actualized with low liquidity, enough money is required to get a project up and running and most developers do not have personal finance to startup this project, therefore need an alternate source of finance. Regardless of how special or important a project initiative aim, without sufficient finance and the right channel to generate this finance, the development or realization of such projects idea are often cut short
Dating back to 2017, taking the blockchain industry as a case study, somany new cryptocurrency project we see in coinmarketcap where all sponsored and developed through crowdfunding. Nevertheless several others who generated funds through this means also eventually became scam project as a result of fund misuse and dubious developers which halted the aim of those project. At present people are no longer confident nor trust towards helping out new project because of the experience many have encountered in failed project. PLEDGECAMP is a project developed to restore trust in crowdfunding via smart Contract with the use of escrow service.
ABOUT PLEDGECAMP
Having examined the challenges currently dwelling in crowdfunding and the need to restore trust back to crowdfunding, Pledgecamp project initiative is aimed at removing this bottlenecks by providing escrow service and executing this funding through smart contract
PLEDGECAMP SOLUTION TO CURRENT CHALLENGES IN CROWDFUNDING
• PROBLEM OF TRANSPARENCY
Pledgecamp aiming to be the next generation of crowdfunding is bringing transparency between contributors and project developers. Lack of transparency is one of the top most challenge of crowdfunding as most project do not really have use cases and team members are anonymous. Ventures and new project often only with the use of social media through good marketers entice contributors and get them to contribute funds without really giving them details about the project vision and Developers identity. Pledgecamp is set to bring in this transparency between contributors and developers before collecting funds.
• CENTRALIZATION PROBLEM
Centralization has been a major challenge contributing in degrading the crowdfunding system. Terms and conditions regarding crowdfunding are usually set by centralized platforms (eg indiego, crowdrise, Kickstarter, crowdfunding etc) that currently mostly handle crowdfunding Activities. Centralized platforms often put in place conditions/restrictions related to nationality, regional restrictions, bank account type, currency limitations and debit card type on project Developers which cause set back to the developer towards achieving their project aim and objectives. You will remember for example the ban that was placed on energy drink project by Kickstarter a popular centralized crowdfunding company. PLEDGECAMP as a decentralized crowdfunding platform will remove all this limitations/restrictions highlighted above with the use of it own singular native token with ticker PLG. The Pledgecamp token will be used in the pledgecamp crowdfunding platform as the native currency to remove currency restrictions in the crowdfunding system. Pledgecamp aims to improve project developers focus on building a reliable project as well increase investors confidence in contributing for the development of this project
• PROBLEM OF ACCOUNTABILITY
In recent years, recalling the later end of 2017 in the cryptocurrency/blockchain industry you would notice many projects even though they looked and sounded promising exited scam while others couldn’t further develop project product after being funded by contributors from different part of the world. Most of this project mismanaged raised fund and couldn’t account for the generated and lost fund. Contributors/investors have lost trust in the system of crowdfunding. Pledgecamp is developed to restore this trust and ensure all fund raised will be accountable by the developers of any project and prevent the situation whereby developers propose cumbersome ideas which they cannot meet just to siphon finance from the masses.
PLEDGECAMP TOKEN DETAILS
You are welcome to be a part of the next generation crowdfunding project by Participating in the PLG token sale
Name of Token: Pledge Coin
Token standard : ERC-20
Token ticker: PLG
Total Supply: 10,000,000,000 PLG
Token Price: $0.01
Conclusively, looking at the Pledgecamp white paper and it laid down aim and objectives, I am convinced that with the escrow service provided by Pledgecamp will sure be the one solution to all the challenges currently gallivanting around the centralized crowdfunding system and we will in no time begin to experience a restoration in the trust and confidence of investors in the crowdfunding ecosystem with the elimination of regional and currency limitations with the use of pledge coin as a means of contribution through smart contract.
I will urge you to be a part of this crowdfunding revolutionary project by checking through the following links below to learn more about Pledgecamp initiative, get up to date information and participate in the pledgecamp token sale.
Pledgecamp website: https://pledgecamp.com/
whitepaper: https://pledgecamp.com/__pdf/whitepaper-pledgecamp-9-23.pdf
One pager: https://pledgecamp.com/__pdf/pledgecamp-onepager_181122.pdf
Join the whitelist: https://pledgecamp.com/whitelist
Join telegram channel for updates: https://t.me/pledgecamp
Twitter: https://twitter.com/pledgecamp
AUTHOR
Bounty0x username: Andycapable4u