Kickstarter plans to migrate to a platform based on the Celo blockchain

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The crowdfunding platform Kickstarter will launch a new company that will eventually see its website migrate to a blockchain-based system on Celo.

In a blog post on Wednesday, CEO Aziz Hasan and co-founder Perry Chen Said Kickstarter will develop an open source protocol that will exist on the Celo blockchain. The two executives mentioned the blockchain’s efforts to minimize its environmental impact-negative carbon emissions-except that it is open source.

“We are entering an important moment of alternative governance models, and we think this is an important opportunity to use blockchain to advance these efforts,” Chen and Hassan said.

Bloomberg Report Kickstarter plans to transfer its website to a blockchain platform in 2022, and the project announced that it will release a white paper “in the coming weeks.” According to reports, Kickstarter stated that the migration will not affect any of the millions of users currently using the platform to crowdfund projects such as medical and fitness products, artworks, books, and movies.

In addition, Kickstarter stated that it plans to establish a governance laboratory to “supervise the development of protocol governance.” Camille Canon, executive director and co-founder of the Purpose Foundation, will lead this work.

related: Community governance DeFi platform decentralizes crowdfunding

With the emerging crypto space, some projects that may be funded through Kickstarter have been transferred to distributed autonomous organizations. In November, an organization called ConstitutionDAO Trying to buy the first print edition 17,437 supporters received a governance token called PEOPLE.Although DAO failed to win the bid, its Token price surge After the team behind the project allows users to continue to hold tokens.

Kickstarter was first launched in 2009, and it is reported that 21 million people have pledged more than $6 billion to support 213,034 projects using the crowdfunding platform, including Peloton bicycles and the 2014 movie Veronica Mars.