FundRequest (FND)

FundRequest (FND) widget

ICO date:
Product Type: Platform
Industry: Crowdfunding & Lending
Description:

An integrated decentralized platform where developers can get compensation for their work and where people can incentivise developers to address bugs or contribute to a particular feature. All this via crowdfunding on an Ethereum blockchain

Features:

- Open Source projects provide incentives to develop a new feature or to fix a bug. In turn this adds more value and stability to the project. Additionally, by comparing the amount of backers and the total funded amount, one could get an insight into customer/user priorities related to open tickets - Developers and Contributors reward the time and effort they invest in supporting open source projects. For contributors who don’t care about the reward, FundRequest offers the ability to donate the rewards to the contributor’s favourite charity - 'Businesses' is a level of support which is positioned between either having no support or paying for Enterprise support. Companies can pick which issues they want to see resolved and decide how much budget they want to allocate. They only pay for bugs that impact their business - Users are more stable and can feature rich, open-source software. Additionally they can fund a issue that impacts them or contribute to fund raising to implement a new feature

Technical details:

The technical architecture of FundRequest will allow funding request that are independent of middlemen, e.g. financial institutions. The cryptocurrency Ethereum allows for the creation of smart contracts that run business logic autonomously within a blockchain. These smart contracts can be used for fast, secure and reliable results processing. Unlike existing platforms, all of FundRequest’s transactions are publicly verifiable, viewable, resistant to counterfeit, and not subject to the risk of institutional processing. Peer-to-Peer (“P2P”) decentralization allows crowdfunding without reliance on payment processors, reduces operational regulatory burdens, and protects against organizational corruption such as fraud and embezzlement. FundRequest offers a layer on top of existing platforms and uses their functionality to automatically decided if a request is resolved or not. Smart contracts use that information automatically and autonomously distributes the collected funds for that request. This significantly reduces the risk of fraudulent reporting that is rampant on similar platforms.

Website: fundrequest.io
Whitepaper: Whitepaper

Rating Review and Analytics

Investment rating
NA
Hype score
High 2.7 / 5.0
Risk score
Medium

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See also