WHY BITCOIN CROWDFUNDING IS BETTER AND PERHAPS REVOLUTIONARY

While searching for Bitcoin’s ‘killer app’, there are a few different options to consider. Something like OpenBazaar could be perfect for bringing Bitcoin’s decentralized nature to various marketplaces while a Bitcoin rewards cardcould offer an incentive for more people to choose Bitcoin as their preferred method of online payment.
On the other hand, Bitcoin also offers some intriguing upgrades for the crowdfunding industry. The basic nature of how Bitcoin works means crowdfunding is more practical for certain situations, and Lighthouse allows creators and supporters to connect directly rather than through a third party.
Removing the Friction Between Donors and the Campaign One of the issues with the crowdfunding industry right now is the friction between donors and the creators of the campaign. In the traditional, Kickstarter process, a donor has to sign up for an account on the website, deposit some money, and have multiple other parties take their cuts of the donation. With Bitcoin, the creator of an idea just needs to publish a Bitcoin address or QR code in a public place to receive donations. The best example of this would probably be when a college student placed a QR code on national television with the message ‘Hi mom send [bitcoin].’ He ended up raising more than $20,000 when it was all said and done.

This post was published at Crypto Coins News on October 6, 2014.