September 4th, 2018 at 4:39 pm UTC · 3 min read
Boomstarter.Network has been operating in crowdfunding space since 2012. The fintech company now aims to use cryptocurrencies and blockchain technology to go global, while maintaining a strong focus on Asia.
Today, crowdfunding platforms worldwide rely heavily on banks and payment systems. These intermediaries restrict the geography of startups allowed to launch their campaigns on some of world’s biggest platforms, permitting only a handful of developed countries to take part. The financial agents also set long waiting times for startups to withdraw the money collected during product presale.
By using blockchain technology, it is possible to bring opportunity to millions of potential entrepreneur worldwide by lifting a series of grave limitations in this scene. The distributed ledger will provide access to crowdfunding for entrepreneurs from any country, including the underserved communities in Southeast Asia.
While ensuring governance with smart contracts, trustless money transactions on blockchain will cut waiting time from weeks to minutes.
Maria Dokshina, CEO of Boomstarter.Network, said: “Membership with Singapore FinTech Association boosts our focus on delivering innovation and creating opportunity for emerging businesses wherever in the world they are. We will also help startups to build active communities offering supporters to use their home computers to generate cryptocurrencies, united as cloud-mining pools, in favour of the startup”.
Boomstarter.Network joins Singapore FinTech Association as global crowdfunding sees an upsurge. In 2017 alone, this market grew by almost 50%, with the Asian region driving the uptick.
In July 2018, the fintech company has started providing an option for startups on its already operational platform to be funded with cryptocurrencies. Recent research by Boomstarter.Network finds that startups see cryptocurrencies as a fundraising solution, an opportunity to secure global contributions quickly and conveniently.
SFA is a cross-industry and non-profit organization the purpose of which is to support the development of the FinTech industry in Singapore, facilitating collaboration among the stakeholders of the FinTech ecosystem in Singapore.
SFA is a member-based organization with its members representing the full range of stakeholders in the FinTech industry, from early stage innovative companies to large financial players and service providers.
Boomstarter.Network is a blockchain-based platform helping startups to sell pre-orders for future products. The buyers receive rewards, typically in the form of big discounts and early product availability. The fintech company is operating an existing crowdfunding platform founded in 2012 that has grown to become Eastern Europe’s largest service of this kind for IT and tech startups.