Challenges
Blue Sky
It perfectly describes the 3rd example of the "blue sky" categorie: "Crowdfunding: Community fundraising platforms or transparent charitable initiatives."
Project details
LuksoIgnite: The place to ignite your idea on the LUKSO blockchain. A crowdfunding platform based on smart contracts. Do you have an idea you want to gather funding for from the public? You can create your own campaign on LuksoIgnite, if the community likes your idea they can contribute to it.
Benefits of using smart-contracts for this include, but are not limited to:
Transparency: All transaction data, including contributions and fund release, is transparent and immutable on the blockchain. This ensures trust and accountability in the crowdfunding process.
Global Access: A Decentralized crowdfunding platform is accessible to anyone with an internet connection, promoting inclusivity and opening up funding opportunities to a global audience.
Reduced Fees: With no centralized intermediaries, a decentralized crowdfunding platform can have lower fees, reducing the cost of fundraising for project creators. For example: the fees of a popular crowdfunding platform are '5% of total funds raised' and for each contribution a 3% + β¬0.20 fee. On the LuksoIgnite platform there is only a 2.5% total funds raised fee to support the development of the platform.
The LuksoIgniteUpdates Telegram channel is a channel where any actions performed on the platform will get shared, this includes: 'Campaign creations', 'Added contributions', 'Contributions taken back'.