Over the years, the importance of funding when developing products for a project cannot be overemphasized, it's like the backbone or fuel to the project's progress. Bringing up a good project nowadays requires a lot of money, without the required connections, Venture Capitals won't have time for one's project regardless of the aim or awesome products showcased by the project. I remember way back after high school, we wanted to produce a mechanical yam pounder, our project aim looked superb but we had funding issues. In a situation like this, crowdfunding would have fit in perfectly ,whereby contributors from various communities donate to ensure the project aim is realized and the product developed. In simple words, crowdfunding is a scenario by which a crowd of people (contributors) contribute or donate funds for a project to ensure its actualization. This is a powerful tool usually done online.
History has it that many projects have been sponsored through this means, although many project initiators misuse the funds and at the end the project aim will fail. A team of high profile and experienced intellectuals looked into the ills of this traditional crowdfunding system and came up with a more robust and long lasting solution to ameliorate the drawbacks by name PLEDGECAMP.
TRENDING ISSUES WITH CROWDFUNDING WHICH NEED AMELIORATION AND SOLUTIONS PROFFERED BY PLEDGECAMP
Accountability flaws :
Crowdfunding won't be possible without contributors who invest in the project from various communities, in order to ensure product development is not retarded due to poor funding. The initiators of projects from time immemorial have proven to be unaccountable. Mismanagement of funds generated during crowdfunding is a hard nut to crack, this reduces trust in the part of contributors making them skeptical. From historical records, many projects have not fulfilled product(s) development, it is usually partial product development or no product at all when they go bankrupt. Some hoodlums may even seek crowdfunding and lavish the funds simply because the contributors donate funds and the law will hardly hold the initiators. Pledgecamp promises to fill the gap posed by accountability drawbacks. Many project initiators usually fail because they propose more than what they have plans for, hence the outcome is usually failures.
Transparency mishaps :
Another major challenge in the crowdfunding system is transparency issues. Many project initiators lie about what they can offer and also their identities. They usually come up with catchy media that will convince contributors to invest without doing proper background checks. There is usually a slim chance contributors actually know the whole truth about projects they contribute to, this also increases skepticism as to whether the project initiators are genuine in their proposal, the amount needed for the project development and their real identities. This is where PLEDGECAMP comes in to curb the skepticism and increase trust in the part of contributors by enhancing transparency. PLEDGECAMP chose the blockchain technology for this reason, since all transactions can be easily traced, cannot be altered hence removing manipulations and cannot be erased/deleted. Smart contracts will come to play ensuring total transparency.
Issues with centralization:
Major limitations are posed by centralization. The popular platforms which host crowdfunding are usually centralized in their dealings. They take the decisions and implement whatsoever policies which suit them. Some major examples include but not limited to kickstarter, Indiegogo, Crowdrise, Razoo and Crowdfunder. These platforms implement policies that sometimes cannot be met by the project initiators, hence retarding genuine project initiators from actualizing their project/product. Example of such restrictions will be nationality, specific debit card, specific bank accounts and sometimes ban of certain projects. Who would have imagined kickstarter will ban crowdfunding of energy drinks without considerations, this is absurd. Regional restrictions and currency limitations are common with these centralized systems. Also, these centralized platforms usually take a considerable portion of the funds raised, hence this implies reduced funds for project development by initiators. PLEDGECAMP solves these flaws because it is decentralized and there won't be any regional or currency restrictions since the official/native token for the pledgecamp ecosystem will break these barriers. With PLEDGECAMP, initiators will have more focus on the product development rather than other miniature matters.
Pledge Coin token information
The pledge coin will aid in boosting the entire ecosystem due to its vital role.
Name of Token: Pledge Coin
Token standard : ERC-20
Token ticker: PLG
Total Supply: 10,000,000,000 PLG
Token Price: $0.01
Aside pledgecoin which can be traded aside its numerous use cases, another token which will only be used within the Pledgecamp platform is camp share. The use cases of both can be seen in the preview below:
The token economics of Plede coin is second to none, below is a preview of token allocation :
Meet the devoted and experienced team behind Pledgecamp
This article won't be complete if I don't mention the brains behind this project, a preview of the team members with awesome profiles can be found below. You can see more details about the team on website or white paper.
Amiable advisors
Reputable partners of Pledgecamp
Pledgecamp milestones
CONCLUSION
From this article, it is crystal clear that Pledgecamp will revamp crowdfunding, bringing in more trust, transparency and hence success in project development. Contributors and those who create the project will be protected under the umbrella of Pledgecamp, there will be no regional restrictions and also no challenge posed by FIAT currency since the Pledge Coin will serve that purpose. Crowdfunding will be taken to greater heights with the use of smart contracts and Pledgecamp's escrow services including other unique features.
For vital insight and updates on this remarkable project (Pledgecamp), do visit the links below
Pledgecamp website: https://pledgecamp.com/
Read the whitepaper: https://pledgecamp.com/__pdf/whitepaper-pledgecamp-9-23.pdf
One pager: https://pledgecamp.com/__pdf/pledgecamp-onepager_181122.pdf
Join the whitelist: https://pledgecamp.com/whitelist
Join telegram channel for updates: https://t.me/pledgecamp
Follow on Twitter: https://twitter.com/pledgecamp
Writer’s bountyox username : deodivine