Bitcoin Crowdfunding Platform Swarm Announces First Decentralized Demo Day
Applications have officially opened for Swarm’s first class with projects to be launched on the 5th of November
Sept 30, 2014 — The Bitcoinpowered crowdfunding platform Swarm (http://www.swarm.co) has announced that its first class of five projects will launch on the 5th of November in the world’s first decentralized demo day. Applications are open until the deadline of October 5th.
Swarm, the “Bitcoin 2.0” platform which in July successfully raised in $1mm in an exchange of Bitcoin for its own innetwork currency, is now helping other innovative projects to use its newly released platform to raise money in the same way. This involves the exchange of Bitcoins or regular US dollars for a cryptocurrency that can later be redeemed in a project.
“The world needs a more fluid funding mechanism,” said Swarm founder Joel Dietz. “We believe that using cryptocurrency and crowdsourced project screening will allow innovative projects to be funded much more quickly without having to be run through centralized middlemen.”
Swarm is using this via their decentralized due diligence process, a way in which participants in the Swarm network can participate in the screening of all projects. Many applications have been received since the unofficial announcement on Sept 15th and a few have already advanced to the video interview stage.
The Swarm platform has already been in Beta release with the Bitcoin Comic, the first full length graphic novel that explained Bitcoin, which recently surpassed 50% of its fundraising goal (http://www.swarm.co/comiccoin). Several additional features and tweaks are planned for the 5th of November release.
Says Joel Dietz, in keeping with the V for Vendetta theme of the event, “Remember, remember, the 5th of November.”
Swarm is a revolutionary crowdfunding platform that uses Bitcoin technology to give out shares in a project. This allows entrepeneur to raise more funds more quickly, and gives a greater share in the project’s success. www.swarm.co
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