New Kid on the Blockchain
Eurekah isn’t the first to bring blockchain to crowdfunding, but it’s putting it to work like never before.
All crowdfunding sites are created with good intentions, but in the current wave of new crowdfunding platforms, flaws of the past have become opportunities of the future. After ten years, the industry may still be anchored in creative enterprise gridlock — but innovation is making the traditional crowdfunding model into something wholly more secure and beneficial for creators and contributors alike.
While some choose to innovate with small cosmetic tweaks such as low fees, or promises of democratization, others are building with entirely new tools. The real trailblazers are upending the way we fund ideas with crypto-economics. By introducing publicly usable tokens staked to platform rewards, these crowdfunding platforms allow anyone in possession of the native cryptocurrency to patronize ideas, products, or ventures.
For these emerging marketplaces, cryptocurrency is a more beneficial way to monetize and sell virtual products. But if cryptocurrency is the medium, how does the transaction take place? Blockchain technology is adding security and transparency to industries across the board. And for crowdfunding platforms, it’s making a world of difference.
Fraud, misaligned incentives, minimal community engagement, and a lack of accountability are some of the core problems that are currently plaguing crowdfunding, and Eurekah is tackling them all.
WHAT IS BLOCKCHAIN?
In a nutshell, blockchain is a different way of recording transactions, allowing for the decentralization into an open ledger. As each transaction is entered, it becomes part of a “block.” The history of all transactions are maintained in a “chain.” These transactions and the chain they live within are recorded permanently and cannot be altered. Essentially, blockchain technology was invented to be more or less “foolproof” and revolutionary in the way transactions are stored.
When it comes to crowdfunding, the decentralized nature of blockchain ensures transactions are verified across a peer-to-peer economy, acting as checks and balances in a foolproof environment.
EUREKAH & BLOCKCHAIN
Eurekah is not the first to enter the crowdfunding space, but it’s innovating in unprecedented ways — with blockchain as a central pillar of diplomacy. Eurekah is tackling issues inherent to traditional crowdfunding models by using blockchain technology to layer in added security and transparency for the Creator, the Patron, and the community-at-large. Eurekah is leveraging blockchain tech to ensure funds are securely contributed and campaigns can be monitored and gauged by anyone interested. Too often are crowdfunding platforms held without accountability for the projects or creators that live within their ecosystems. Fraud, misaligned incentives, minimal community engagement, and a lack of accountability are some of the core problems that are currently plaguing crowdfunding, and Eurekah is tackling them all.
At its core, Eurekah is using blockchain technology to solve real-world problems. Eurekah harnesses the boundaryless aspects of blockchain with the vision to be a governance organization for decentralized and democratized decision-making. Eurekah has the potential to expand beyond just tangible goods and services and far into concepts, business ventures, politics and anything that needs the support of the larger audience.
Eurekah is funding the future, and the chain reaction starts now!
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