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Kickstarter Will Move Its Crowdfunding Platform to Blockchain
- Thread starter Shard Shinjuku
- Start date
- News
Are we time traveling into the past while bringing cyberpunk technology with us? Soon we will have a new postal service of cyber knights riding electronic horses to deliver mail back and forth. It was inevitable.
All money is make believe mate. How do you think our current structures were created, and by whom?
"E-Mail" :P
Sorry, "Mailing" is used as a loan word in German and just means sending an e-mail, but I like your idea more, so lets stick with that.
Bah. I assumed you were being sarcastic and my mind went wild. Either way, I'm not getting further involved with crypto. I helped an upcoming crypto currency once with their customer service platform and I decided to just drop it after meeting some weird people.
Nobody wants to be the person/business who isn't in this space in the event it actually is truly legit.
The gist so far is that its a gamble on people adopting Blockchain in a few years and being fine with using it.
I agree though, that its not a useful or even remotely worthwhile gamble as there are no inherent benefits for their business processes from it, or PR, or actual relevant funding processes.
This I suppose.
I did like your fantasy. Its now my headcanon for crypto related customer service.
Got it, that makes sense. Beyond my personal feelings about this stuff I genuinely couldn't think of a viable reason to do this. Thanks!
Long term play to improve their relevancy (and existence, to be honest) in a world where creative transactions are handled mostly in blockchain.
Idk what y'all want from me. It's really not that hard to go research this stuff. You can disagree that it will be successful, but the constant "omg this is stupid" comments in these types of threads comes across really silly.
Because your answer is redundant. They're doing it because it might be worth it in the future, but only if it's adopted by others to make it worth it. It's all speculative bullshit, it's whole goal is to convince others that it's worth it so the people investing in it now make money. Greed doesn't answer the base question, "Why does it need to exist in the first place".
Take potential future earnings out of the question completely, what does this do?
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There is a perception that crypto and blockchain is the new hotness and companies should jump onboard if they want to be part of the future. NFTs in particular are being seen as a way to get dumb money.
Most old school business isn't falling for it, yet.
I think the answer we're all looking for is "why does it need to involve the blockchain"? Because right now, the stuff Kickstarter plans to do with it:
- Transaction processing
- Allow the creation of 3rd party sites using the Kickstarter platform
If a centralized decision-maker needs to be able to reverse any transaction, this seems like a bad use case for decentralized payments.
I don't understand the benefit. Isn't crypto difficult to cash out? Isn't being able to easily access the money earned from a Kickstarter campaign extremely important? Seems like it would just create more hurdles and make Kickstarter a worse platform for crowdfunding.
I can't with this shit anymore. Everyone getting in on it even if it makes no fucking sense at all just for the $$$
I swear half of the reason "blockchain" has become some buzzword to tech bro investors the world over is simply because people yearn for history to be cyclical. Early 2000's nostalgia is in vogue right now, and companies all think we're due a new version of the Dot Com Boom. Except the blockchain frequently offers nothing new or any kind of solution over what we already have.
It solves the problem of Kickstarter not being somehow related to crypto and blockchain stuff, and thus losing out on interest - and lots of money - from speculative investors.
Like, that's the entire reason why all of this shit is so hot right now. There's money in it, or at least the strong belief that there's money in it.
Or in GIF form:
Ok, boomers, time to learn a new term:
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.
en.wikipedia.org
Kickstarter is probably seeing this is a threat. In the long run, that is.
The last bigger DAO that was in the news was this:
/cdn.vox-cdn.com/uploads/chorus_asset/file/23069961/VRG_ILLO_Decoder_Jonah_Erlich_s.jpg)
www.theverge.com
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.
Decentralized autonomous organization - Wikipedia
Kickstarter is probably seeing this is a threat. In the long run, that is.
The last bigger DAO that was in the news was this:
From a meme to $47 million: ConstitutionDAO, crypto, and the future of crowdfunding
ConstitutionDAO raised $47 million to try to govern a copy of the US Constitution on the blockchain.
www.theverge.com
Almost every problem encountered by blockchain is solved by relying on centralized authorities, defeating the main reason for blockchain's existence.
Presumably you would get the crypto and then Kickstarter would offer to cash it out for you, or you can cash it out some other way.
That's an improvement over the situation where you completely and utterly rely on KS (or another crowdfunding site) releasing funds to you.
This would make sense if it was more like Fig and funders were expecting a return on their investment in addition to or instead of a product, but I don't see how it would provide any benefit for a crowdfunding site that doesn't offer returns for investors.
Love living in capitalist hellscape where money line must go up and investor line must go up or else
Can you back up how exactly this is a net improvement over their existing infrastructure? The use case of a blockchain is to log transactions across a distributed ledger, presumably because you want to avoid a single entity holding ownership over the record of transactions. What about Kickstarter's platform is going to be improved by shifting to that for their backend? The article doesn't mention if they're going to license or open source the tech to do this, and that final product translating into a true decentralized take on Kickstarter isn't guarenteed either, especially given the lead Kickstarter already has in the space. It makes some logical sense for someone to create tech like this, but it makes no sense for Kickstarter to do this since they begin a centralized company is antithetical to the main selling point of a blockchain platform.
User Banned (1 Week): Trolling over a Series of Posts; History of Trolling
Bahahaha let the anger flow
Ok, boomers, time to learn a new term:
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.
Decentralized autonomous organization - Wikipedia
Kickstarter is probably seeing this is a threat. In the long run, that is.
The last bigger DAO that was in the news was this:
From a meme to $47 million: ConstitutionDAO, crypto, and the future of crowdfunding
ConstitutionDAO raised $47 million to try to govern a copy of the US Constitution on the blockchain.
What benefit does this actually give?
I am getting around to understandin the idea of it. I still dont see a benefit for their platform or the users, but it would make them seem more investment friendly or for future blockchain tech startup projects. If they consider those startups to rake in the big money in a few years, this "could" be a solid decision to make their platform seem more authentic to them and potential tech investors.
Still not sure if its a worthwhile gamble though.
Transparency, automatic refunds when certain criteria aren't met etc.
I was working with a few companies investing into blockchain ideas and I actually do believe there could be some very neat use cases there, but I agree that its heavily tainted with NFT crap and people cashing in on a bubble.
Why would crypto be difficult to cash out? You press the sell button on an exchange.