This article will take you 2 minute(s) to read
A team of nonprofit, blockchain, and crowdfunding veterans has launched WHIRL, which is a socially-driven crowdfunding platform that is built on the blockchain technology. The team includes names such as Martijn Hekman (NGOs, United Nations), Roel Wolfert (Transtrack International, Bancor Foundation, Liqwith), Valery Zobov (MegaLine), and Anti Danilevski (KICKICO).
What is WHIRL?
WHIRL has come up with a revolutionary incentive system to encourage giving and maximise campaign success. Backed by a team of 20 people and a wide business network, it is market’s first credible blockchain-powered consumer crowdfunding platform.
One of its co-founders Roel Wolfert is a pioneer in digital payments, the founding member of Liqwith, an early adviser to Bancor, and former Senior VP at VISA, and Martijn Hekman. Also, he has a history of large-scale humanitarian aid efforts across 15 countries for World Vision, the United Nations, and multiple NGOs.
As a solution to crowdfunding issues like oversaturation, fraud, and declining success rate, WHIRL lists a limited number of campaigns at once and incentivises backers with a fair and transparent points system, called Karma. For every dollar-equivalent one spends backing a campaign or a cause, around 7-20 Karma points are earned. One needs to catch up on the Karma threshold to create a campaign of one’s own. Also, one’s Karma balance determines when the campaign goes live and how much it can raise.
Further, WHIRL supports 12 different cryptocurrencies and is also working on accepting fiat currency. And, the blockchain technology makes it a truly global platform that lets anyone participate regardless of location or banking status.
Making a difference
WHIRL facilitates campaigns from individuals in areas such as art, education, healthcare, science and travel. It also works with leading nonprofits to enhance their exposure and give them access to new capital.
With three live campaigns, WHIRL is beginning with funding a performance art and music show by acclaimed artist and provocateur, Sandra Kowalski. The second is to fund a personal expedition to conquer Mount Kilimanjaro. And, the third is to fund a unique fantasy video game that lets one wave his/her phone like a magic wand.
Stay tuned to Silicon Canals for more updates in the tech startup world.