Kickstarter announces plans to move its business to the blockchain

Kickstarter is making significant modifications to the underpinnings of its technology. According to a Kickstarter blog post published Wednesday, the business will fund the creation of “an open-source protocol that will essentially provide a decentralized version of Kickstarter’s core functionality.” According to the business, the protocol would live on a public blockchain and will allow anyone, including “Kickstarter competitors,” to build upon or use it.

According to the company, an independent organization will begin developing the protocol, and Kickstarter will provide cash, appoint a board, and be one of the protocol’s first clients. It is also establishing a “independent governance lab” to oversee “the protocol governance development.” The protocol will be built on Celo, an open-source blockchain that employs the more eco-friendly proof of stake system.

For the time being, it appears that Kickstarter intends to go cautiously in terms of how the protocol will affect the user experience. “As a user, the Kickstarter experience you’re familiar with will stay the same. You won’t ‘see’ the protocol, but you will benefit from its improvements,” a blog post from the company reads. What are your thoughts on Kickstarter plans?

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