Pledgecamp perceives a promising future for dealing with challenges that affect crowdfunding. The platform has its focus on restoring trust and promote transparency among all the crowdfunding parties. It aims to make a difference from its predecessors when it comes to successful business dealings among partners.
It, therefore, promotes high levels of accountability in crowdfunding through the provision of digital contracts. The innovation also aims to protect investors interests by embracing a token economy model that is rewarding.
Among the limitations in the earlier blockchain innovations is centralization of the services. That approach creates a lot of constraints in the users contrary to the primary aim of decentralizing the crowdfunding systems.
Pledgecamp crowdfunding features
Backer insurance
Backer insurance is a unique feature only offered by Pledgecamp. Here the backers have the means of monitoring the transfers in their investments by the creators promoting accountability. This approach is among the efforts to foster Pledgecamp crowdfunding accountability and transparency.
The smart contract is responsible for holding a particular portion of the funds in the escrow. The funds will only be made available to the creators upon completion of the specified project within the agreed timelines. The partnering clients will be expected to decide on the milestones deliverables before the project commences. That is to ensure that the expectations are very clear from the beginning with both parties in agreement.
Backers have a responsibility of verifying the milestones by voting but will not determine the creators’ management procedures. The introduction of the backer innovation is a way to protect the backers from any form of manipulation by the creators. The approach will make it easy and fast to resolve disputes without needing lawyers’ intervention.
Pledgecamp ecosystem
Pledge camp applies two tokens each with separate functionalities in its ecosystem. They include camp shares and the pledge coin tokens. The platform operates the two symbols according to the stable value of trading among them. Pledge coins’ application offers borderless payment application, uses the backer insurance for security and gives rewards in the form of bounties.
Camp share does not involve any form of exchange. It allows the token owners to have a moderation status. Token owners here receive payments from the benefits the platform collects.
Using the camp share tokens allows users the following application; users become moderators for accountability upon participating in the stake, moderators have the mandate to regulate performance thus monitoring against illegal dealings, token owners receive the full campaign receipts of fees after their participation. It’s important also to note that you cannot sell the camp share nor trade them. That is just one among other restrictions for having the camp share token.
With the new introduction by the Pledgecamp platform, the future looks promising for the participants in crowdfunding. The platforms seek to ensure that operations on the new platform are secure and every participant has equal representation.
Pledgecamp has gone a higher note to provide backers security against any form of exploitations while using the platform. Pledgecamp has also ensured versatility in token ownership by introducing two types of tokes name the pledge coins and camp share.