In Brief:
- Kickstarter to develop a platform to decentralize Kickstarter’s core functionality.
- The platform would be based on the Celo blockchain.
- The company is establishing a governance lab directed by Camille Canon to oversee the protocol’s development.
Kickstarter, a popular crowdfunding platform, announced its plans for the development of an open source protocol that will effectively create a decentralized version of Kickstarter’s core functionalities.
Celo, an open-source blockchain that uses a more environmentally friendly proof-of-stake algorithm, will be used to build the protocol.
This project would allow as many individuals as possible to pursue their creative projects.
Collaborators, contributors, and even crowdfunding competitors will be able to build on the protocol and use it on the carbon-negative blockchain platform Celo.
The firm chose Celo for its efforts around limiting environmental effects (and concentration on worldwide accessibility through mobile access to the blockchain), according to the company.
To oversee the protocol’s development, the company is establishing a governance lab directed by Camille Canon, co-founder and most recently executive director of Purpose Foundation.
Additionally, according to Bloomberg, the new protocol’s development will begin in the first quarter of 2022, and Kickstarter hopes to switch to the protocol in 2022.
With the emerging crypto space, certain projects that might have received money through Kickstarter have shifted to distributed autonomous organizations. With such a similar scenario, the ConstitutionDAO raised money on juicebox in the form of ether or ETH to bid on this copy of the United States Constitution. However, it failed to win the auction.
