An all-star team of professionals in the blockchain, crowdfunding, and nonprofit sectors recently launched WHIRL. The WHIRL platform will give users a new way to finance their dreams via crowdfunding. At the same time, it will encourage users to contribute to charitable events.
Backed by 20 prominent names, the WHIRL platform was launched after years of research, followed by another year and a half that went into development and to receive the necessary legal accreditation to operate such a blockchain powered crowdfunding platform.
The Founding Team
Roel Wolfert co-founded the WHIRL platform. He is a pioneer in the world of digital payments and was one of the founders in Liqwith. Besides that, he has held the position of a VP at VISA. The other co-founder is Martijn Hekman, who has been involved in major charitable efforts in over 15 nations globally. He has worked with large organizations such as the UN, World Vision, and other NGOs.
According to Roel, crowdfunding with the use of blockchain tech is an original use case and WHIRL hopes to realize its potential and promise. However, they will go beyond that, WHIRL will be a platform where the real social impact can be felt globally.
Stagnation in Crowdfunding
In the last decade, crowdfunding has experienced stagnation. This has been due to fraud, oversaturation, and failing success rates. WHIRL wants to solve the issues by listing some campaigns and incentivizing contributors. It will be done using a transparent and fair point-based system. This system has been dubbed the “Karma” system.
When you back a WHIRL project, you will be awarded Karma. When it is your turn to create a campaign for your vision, your Karma will be used to determine when it will launch. It will also be used to determine how much cash you can get.
Roel said that WHIRL would offer a disruptive alternative to the loans offered by fiat systems today. Without incurring debt, users get to fund their project. This platform will be open to all types of projects including medical bills, education, travel, Olympic dreams, and new businesses.
Social Drive
WHIRL is a socially driven platform that gives people the ability to raise funds for their obligations and dreams. They do not have to beg from family and friends or promise gimmicky rewards if they take part. The users also do not need to incur any major loans that could bury them in debt forever.
Benefits for Non-Profits
Non-profits will be able to grow their exposure and help them gain immediate access to capital. The non-profits placed on the platform do not pay any fees. Besides that, their backers will get bonus Karma points.
Martijn Hekman, the other co-founder, said that he had led humanitarian work in Iraq, Syria, and Afghanistan. During that time, he had seen how hard it was for non-profits to gain access to funding. This platform will help those who have been locked out of crowdfunding due to the banking system and their geography.
Crypto-Giving
The WHIRL blockchain platform is fueled by its native WRL tokens. In addition to WRL being the favored mode of transaction on the platform, WHIRL also supports 12 prominent cryptocurrencies. Every time somebody contributes to a fundraising campaign on the platform, they will be awarded Karma. The number of Karma points awarded will vary depending on the mode of transaction. Those donating with WRL will receive 10 Karma for each dollar contributed. Similarly, those contributing with partner cryptocurrencies will receive 8.5 Karma and with other cryptocurrencies, they will receive 7 Karma per dollar.
The number of Karma points gained will decide whether the individual is eligible to create their own fundraising campaign on the platform.
Token Sale: WHIRL will soon start offering its WRL tokens to the public through a token sale campaign. The campaign is set to go live in under a week’s time, with exciting bonus offers.
Image: Pixabay