Kickstarter developing a blockchain protocol for its crowdfunding platform

Kickstarter is decentralising, or at least it plans to, announcing that it has hired a firm to develop an open source protocol for its crowdfunding platform built on blockchain technology.

The endgame here is not precisely clear, but Kickstarter did note this week that the open source protocol would be made available to all of its users, living in a public blockchain that crowdfunding competitors would be able to access to.

“As a first step, we’re supporting the development of an open source protocol that will essentially create a decentralized version of Kickstarter’s core functionality,” the company explained in a press statement.

“Kickstarter PBC will provide this new independent organization with some funding, appoint an initial board, and commit to being one of the protocol’s earliest clients, meaning will be built on top of the protocol. As a user, the Kickstarter experience you’re familiar with will stay the same. You won’t ‘see’ the protocol, but you will benefit from its improvements,” it added.

As for who will be building this decentralised site for Kickstarter, the platform has highlighted Celo, which has a track record of being a carbon negative blockchain.

It therefore looks like the platform wants to get ahead of the trend as far as more platforms being decentralised, along with generating some buzz by throwing around the term blockchain.

“In the coming years, we believe large swaths of the internet will be reconstructed from the ground up by open and decentralized networks of contributors, who participate in the design, operation, governance and even ownership of the technology themselves,” the statement added.

“We believe that helping build the infrastructure and tools that help bring creative projects to life is an important and exciting way for us to serve our mission,” it concluded.

With no definitive date mentioned for the open source protocol’s release in 2022, it will be interesting to see what guise it takes, as well as whether other crowdfunders head down the same route.


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