It seems another interesting development is on the horizon for the Bitcoin Cash ecosystem. After some technical upgrades and the upcoming hard fork to further improve the technology, there is now a crowdfunding platform with BCH support. Known as Coinfundr, this platform is scheduled to launch later this month.
Crowdfunding With Bitcoin Cash can Work
It is evident the world of crowdfunding can benefit tremendously from cryptocurrencies. This is especially true when looking at the problems platforms such as Kickstarter and Indiegogo have suffered from in the past. Backers of projects are not too amused with how both companies have handled negative developments, and there is still a lot of room for improvement. Unfortunately, it seems unlikely either company will ever embrace cryptocurrencies.
As such, it makes a lot more sense to build completely new crowdfunding platforms which primarily focus on cryptocurrencies. Coinfundr is one of those projects, although it will focus solely on Bitcoin Cash. That is a very interesting development, as Bitcoin Cash has made a positive impact on the cryptocurrency industry over the past few months.
Up to this point, there haven’t been too many crowdfunding efforts associated with cryptocurrencies. Platforms such as BnkToTheFuture are quite popular, but they are among the only platforms which can make any sort of impact at present. Additionally, one could argue the initial coin offering industry has some crowdfunding aspects to it as well, although there is no unified approach to this industry as of right now.
Although it is still a bit unclear how Coinfundr will work exactly, it seems its layout will be quite similar to those of traditional crowdfunding platforms. The big difference is that this platform will only support Bitcoin Cash. Only time will tell how that decision plays out, but there is a genuine reason to be excited about this approach.
There also appears to be ShapeShift support when it comes to Coinfundr. Again, it is not clear how this will work exactly, but it seems this method may be used to convert from other cryptocurrencies to Bitcoin Cash. It’s an interesting approach if true, although there is no guarantee things will work out in this regard.
Cryptocurrencies will make a big impact on the crowdfunding industry over time. Whether that will happen through proprietary platforms or because existing companies will finally embrace bitcoin and altcoins is very difficult to predict right now. Both approaches seem to be more than valid, although the latter scenario may not occur anytime soon. There are a lot of interesting opportunities waiting to be explored in the crowdfunding industry; that much is evident.