Blockchain technology is gathering momentum, creating new and interesting opportunities for people around the world. Prior to the advent of Blockchain, one of the most innovative fundraising concepts was just beginning to gain viability with the start-up community; Crowdfunding. Crowdfunding has grown steadily as an extreme alternative to venture capital funding. As a result, non-traditional projects had a new audience to pitch to and raise funds for their cause. Now with blockchain disruption, crowdsourcing could be revolutionized to unlock new use cases and enable global outreach.
Before diving into how blockchain technology and decentralization will revolutionize the crowdfunding industry, let’s take a look at what blockchain is and what it does.
Blockchain Technology and Decentralization
There’s a common misconception that Bitcoin and Blockchain are one and the same, however, that is not the case. The blockchain is the underlying technology behind the success of cryptocurrencies. It acts as a data structure that holds various records and while ensuring utmost security, transparency, and decentralization. While creating, storing and facilitating transactions of cryptocurrencies is one of the applications of Blockchain technology, there are numerous other.
Additionally, there are some features that make this revolutionary technology stand out. Perhaps one of the most ingenious notions to come out of the blockchain revolution is the use of smart contracts. Different from traditional deals, smart contracts are self-executable and self-verifiable contracts. In fact, smart contract implementation may soon disrupt industries that operate on a contractual basis, such as finance, insurance, and real estate, among others. For example, smart contracts can manage the supply chain, and ensure ethical sourcing of healthcare products.
The Crowdfunding landscape
Crowdfunding an equally big concept only less complicated. It is a popular way to democratize fundraising for startup projects and charities, a miracle of the modern Internet age. When crowdfunding works, it brings new products to life.

View Entire Article on ComparetheCloud.com