Kickstarter, the biggest crowdfunding platform, just announced that it’s switching to blockchain for the foundation of its technology.
The Kickstarter blockchain project will see the platform fund the development “an open-source protocol that will essentially create a decentralized version of Kickstarter’s core functionality”.
In essence, this protocol will be available on a public blockchain and will let anyone, even Kickstarter competitors as the company highlights, to build on it or use it for their own projects.
Kickstarter will finance an independent organization to develop the protocol using Celo, an open-source blockchain with a more environmentally-friendly proof of stake system, and will be one of its first clients.
What does this mean for Kickstarter project creators or patrons? Since this is a move that affects the platform code, not the mechanics of it, nothing will change for them.
“As a user, the Kickstarter experience you’re familiar with will stay the same,” said the company in a blog post.
“Our mission to help bring creative projects to life is a pledge to help unlock this latent potential in people and their ideas. To truly serve that mission, we need to build on what made Kickstarter so innovative in the first place: the power of a large network of people working together towards a common goal,” Kickstarter explains.
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