Crowdfunding has become one of the best ways to help new start-ups fuel their dreams by using platforms like Kickstarter and GoFundMe and seek donations from common people. Everyone is free to contribute as much as they like and in some cases, they are even given rewards for their contributions. Thanks to the growth of Social Media and the internet, new and interesting platforms like these make things easy for the budding entrepreneurs. However, despite so many websites acting as crowdfunding mediums, there are none that also accept the crypto-currency as an acceptable form of payment for donations.
LightList: The Game Changer
Lightlist is the new entrant in this domain which serves as the LightHouse directory. Lighthouse is a wallet that has been designed specially to enable corwdfunding in a decentralized manner. A new project can be created by a user by simply downloading the client to their PC and then it can be easily shared using the traditional methods like email or sites like Lightlist.
Since there are no central sites at the control centre, everyone can submit a project that they want to raise money for. There will be no fee charged except for bitcoin miner fee that will be deducted from the total money raised and that too is optional. Lightlist will display all the projects that have been listed on their website with an image and a description associated with each project. It will also clearly show the goal of the project and the progress that has been made so far.
The users can use ChangeTip to donate for the project of their choice without the need for downloading Lighthouse application.
The Dark Cloud to the Silver Lining
There are many things that Lighthouse and Lightlist are falling behind, even though they bring so many advantages. Firstly, the users cannot set a deadline to the project that can encourage more donations and the platform is yet to catch up with the crowd as there are very few projects that are available that too can be hard to find. However, this technology has a strong promise for such innovations that will definitely gain traction in the coming time.
Once this application catches on with the crowd, it will be a good way of bringing Bitcoin use to mainstream adoption by encouraging donations made in digital currency.
The way it works
The user makes a project on Lighthouse application and it will be then shared via social media and through project sites, like Lighlist, that are dedicated to promotion of such projects. The users can set the pledge money through the Lighthouse application and the funds will only be made available once the project is funded completely. The project creator can cash in the funds or bitcoin donations with the help of their personal wallet.
Do you wish to learn more?
To find out how Lightlist and Lighthouse work, be sure to check their FAQ sections below: