Open source software refers to a computer application where the source code is available to the general public for use and/or modification. Programmers contribute their coding skills to a broader community when there is a personal gain to use the open source application or to receive peer recognition. The benefits of this so-called crowdsourcing offers small and medium sized companies value by i) reducing the internal cost of development ii) by increasing the speed to market. Yet, a lack of incentives causes the majority of open source projects' inability to garner sufficient community adoption for a longer period of time.
FundRequest is an integrated platform to fund open source projects, thus financially incentivising the open source community. The platform allows developers to fix bugs or to program additional features for an existing application. FundRequest will be developed on the Ethereum Blockchain.
The centralised structures of traditional businesses are challenged, as blockchain gains traction as a solution for secure and transparent transactions without the need for a mediator. FundRequest aims to leverage upon a decentralised ecosystem as it reduces both operational and regulatory burdens and protects against organisational corruption such as fraud and embezzlement. FundRequest creates smart contracts to incentivise developers to solve a problem in the open source community. With a smart contract the code is law and thus there is no ambiguity ruling whether the conditions for funding have been met. FundRequest offers a layer on top of open source platforms such as Github or StackExchange and uses their functionality to automatically decide if a request is resolved (or not). Smart contracts use that information to automatically and autonomously distribute the collected funds for that request. This significantly reduces the risk of fraudulent reporting that is rampant on existing platforms.
- 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
Start of the crowdsale
End of the crowdsale
Integrate & Grow
Ramp up development
Pivot & Expand
Milestone 1: release Alpha version
Milestone 2: release 1st Beta version
Milestone 3: release 2nd Beta version
FundRequest production launch
Attention. There is a risk that unverified members are not actually members of the team
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