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Kickstarter is switching to blockchain

Kickstarter is switching to blockchain

As reported by Bloomberg, Kickstarter, a fundraising platform for various projects, has made a strategic decision to create and switch to a new blockchain-based crowdfunding platform called Celo.

To meet this goal, Kickstarter will develop a new open-source blockchain protocol to be the basis for creating a decentralized version of its platform.

The development stage is scheduled to start in the first quarter of next year. Later on, Kickstarter plans to migrate its website to the new infrastructure and offer users the usual tools for fundraising, including all the advantages of decentralization, public blockchain, and the new ecosystem.

The company chose the Celo blockchain platform because of its declared environmental friendliness and developed ecosystem. This choice was also influenced by the fact that the platform's supporters include venture capital fund Andreessen Horowitz and Tweeter founder and CEO Jack Dorsey. Kickstarter also plans to create a governance lab headed by Camille Canon, co-founder and executive director of the Purpose Foundation, dedicated to overseeing the development of the protocol and ensuring its independent control.

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