In January 2020, a number of respected community members announced a goal to build a tool that allows anyone to run a voluntary funding campaign resulting in the release of Flipstarter.
Shortly after this announcement, a successful test campaign was run with the BCH charity, eatBCH, and another 6 projects followed to cumulatively raise over $500K for Bitcoin Cash Node development.
These projects proved the viability of non-custodial fundraising via Bitcoin Cash (BCH), which had not been achieved at such a large scale prior.
This really got my attention, thinking about what else was possible, leading me to explore what I call 'collaborative finance'.
Some examples of collaborative finance include:
Indie movie screenings: collaborators purchase tickets, and if enough tickets have been purchased to cover theater rental and movie licensing costs, the event goes ahead. If not, everyone gets their money refunded.
Group funding a budget: funds can be pooled into a budget for a project. Project workers can withdraw from the budget at either set-rates, or by making proposals ahead of time. If collaborators disagree with the project’s actions, they can withdraw their support/ remaining funds at any time.
With truly digital, scriptable currency, these things become possible in a non-custodial way, leading me to Common Fund.
Common Fund is a platform that aims to achieve these goals and to further realize the ideas and ideals that led to the launch of Flipstarter. The aim is to provide a top quality user experience while maintaining the non-custodial (and thus maximally trustless) nature of the platform, enabling access to collaborative finance for anyone - regardless of their physical location, technical expertise, or economic status.
Coming soon at common.fund
Common Fund aims to launch with a number of pilots, if you’re interested in being one of them please contact me (@mesquka on telegram and keybase).
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