WHIRL is a socially driven, pay it forward crowdfunding platform that’s built on the blockchain. On WHIRL, you can only create a fundraising campaign after you’ve already contributed to others, inspiring a positive feedback loop of generosity. WHIRL is not a typical crowdfunding platform tacked onto the blockchain; it offers key improvements and innovations over legacy crowdfunding platforms.
First, WHIRL introduces a points system called karma, a unique method of rewarding backers for contributing to campaigns. Karma eliminates the need for campaign creators to ship rewards or ask their friends and family for charitable donations. Karma maintains a fair and transparent campaign queue. And karma incentivizes giving to drive pay it forward, positive societal change.
Second, WHIRL is designed to make every single campaign that lists into a success story. Over time, as the number of crowdfunding campaigns has increased around the world, their already-poor success rates have declined further (e.g. Kickstarter reports a 36% success rate, down from 44% a few years earlier). WHIRL focuses the entire community’s attention on only a limited number of campaigns at one time. Limited campaign placements, when combined with the karma points economy and the platform’s global footprint, will ensure that every campaign that goes live finishes with a successful raise.
Third, WHIRL is a truly global platform. Because it’s built on the blockchain and accepts cryptocurrency, anyone can create a campaign or participate in a campaign without worrying about regional banking restrictions, which are inherent to legacy crowdfunding platforms. WHIRL’s fair queue does not discriminate by region or limit members to see only projects from their region, enabling campaign creators to connect with an audience of international backers. All these points are critical because much of the growth in crowdfunding has been and is projected to be outside the United States.
Fourth, WHIRL is the first major consumer crowdfunding platform that’s built on the blockchain. Unlike other blockchain projects, WHIRL isn’t empty, future hype. The platform is working today after more than a year of development, and portions of its technology have been in development for three years. Being on the blockchain, WHIRL’s fees are far lower than other platforms and chargebacks and fake donations are no longer a problem. WHIRL is a secure platform with novel anti-hacking methods like automatic cold storage wallet transfer. Rather than being tied to one specific blockchain, which may not even exist a few years from now, WHIRL transacts with a dozen major cryptocurrencies, a rare feat among blockchain applications
WHIRL will usher in the next generation of crowdfunding by creating a novel solution to the pain points listed above. Its limited campaign placements and queue ensure a 100% fundraising success rate. It will energize and attract campaign backers with a unique Karma points system that offers a third, more immediate and compelling alternative to rewards-based and donation-based crowdfunding. And it will be truly global because the platform accepts cryptocurrency (in addition to fiat) and doesn’t discriminate by geography.
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