Kickstarter postpones plans to move to blockchain

by in Blockchain News


Kickstarter has revised plans to move to a blockchain protocol and move towards the crypto space after a backlash from the community.

In December, the team announced the development of an open-source solution for running the platform in a decentralized environment.

“We think that using everything we have learned about crowdfunding since 2009 in the development of a decentralized protocol will open up exciting new opportunities for realizing creative projects,” CEO Aziz Hassan and founder Perry Chen wrote at the time.

In a new blog post titled "We won't be making changes to Kickstarter without you," the team stated: “Since our announcement, we've had thousands of conversations with the community through email, support, social media, and Zoom meetings to understand your concerns. Environmental issues, fraud, speculation, and other risks are real - we share this."

The platform team has not abandoned the idea of ​​using decentralized technologies but has made several commitments, including:

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transfer Kickstarter to a new protocol without proper testing; establish an advisory board of users and contributors to advise on the next steps; excluded the usage of energy-intensive blockchain technologies to minimize the carbon footprint.

Kickstarter reminded that the new protocol will be developed by an independent organization - a specially created charitable corporation (Public Benefit Corporation).

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“We believe that the new toolkit will help solve long-standing problems in the field of crowdfunding, but we are only at the beginning of the journey. Each creative community has different needs, and we will need your help to identify problems and develop solutions for them,” the platform team concluded.