The first global fundraising platform based on crypto, blockchain and smart contracts. Eliminating geographical restrictions. Bringing transaction speed and mining tools to earn and support fundraising goals.
Boomstarter technological crowdfunding platform launch in Russia
Number of successful fundraising projects reaches 1000
Number of registered platforms users exceeds 500,000
Market and solutions research for smart crowdfunding
Definition of the concept and technology of smart crowdfunding
Boomstarter.Network aims to remove third parties involved in all existing crowdfunding operations. They are payment operators and banks that set their restrictions. One of the major hurdles is long processing time of transactions, that sometimes takes weeks, between startups and buyers. Another problem is that biggest platforms only allow entrepreneurs from a handful of developed countries. As a result, only a third of the worldwide entrepreneurial community is served by existing crowdfunding platforms.
The idea of Boomstarter.Network is to add blockchain technology to the existing profitable business. Smart contracts on the Ethereum network will replace intermediaries. The potential is solid: the global market size for rewards-based crowdfunding in 2017 was over $6.5 billion dollars, with an almost 50% uptick from a year earlier.
With the classical crowdfunding market projected to slow down in the coming years, the use of distributed ledger is a strong growth driver. It is capable to empower the millions of entrepreneurs worldwide who were previously not allowed to launch their campaigns, discriminated by banks and payment systems.
The co-founders originally met in Moscow, Russia, in 2012 and launched Boomstarter, a classical crowdfunding platform. It later became the largest in Eastern Europe serving IT and business startups. It has been operating profitably ever since.
On the list of top risks is the appearance of a strong competitor. However, we have not seen any other upcoming product that would use the blockchain technology to remove the inefficiencies that the crowdfunding industry is facing globally.