The technology behind bitcoin, better known as the Bitcoin technology or the Blockchain technology is dependent on peer-to-peer network. The basis of peer-to-peer network is the connection between individuals across the world, any individual can be part of this network. The most obvious application of bitcoin will be for crowdfunding, where anyone and everyone can contribute to the campaigns.
Bnk To The Future Ltd.’s platform – www.bnktothefuture.com is one such equity crowdfunding platform which caters exclusively to Bitcoin and Blockchain related businesses. The BnkToTheFuture platform recently achieved raising $10 million worth of funds in bitcoins for various businesses. BnkToTheFuture platform accepts funds only in the form of bitcoins. People interested in investing in companies against equity can contribute as less as 10 euros, which is around $11.2.
Bitcoin Capital, Factom and ShapeShift.io are some of the well-known campaigns run on the BnkToTheFuture platform. Recently Bitcoin Capital successfully raised over $1.5 million using the platform. Following the first successful campaign, Bitcoin Capital has decided to launch a second round of crowdfunding campaign for $5 million. Bitcoin Capital will be investing the funds raised through BnkToTheFuture platform to fund Bitcoin and Blockchain start-ups working on developing Bitcoin and Blockchain related applications, currency speculation and Bitcoin mining.
While Bitcoin Capital is raising almost all of its funds through BnkToTheFuture, ShapeShift.io successfully raised about $1.8 million for its own use, on the same platform. ShapeShift.io is a cryptocurrency exchange that allows users to exchange bitcoin and other altcoins to the cryptocurrency of their choice.
Even Factom, which uses Blockchain technology for records management has earlier raised about $1.1 million for its fundraising campaign using BnkToTheFuture.
Equity crowdfunding model is not something new, it has been used for a long time now. There are many crowdfunding sites like FundedByMe, Eureeca, Fundable and Crowdfunder are some of the many crowdfunding platforms available on the internet. But most of them, unlike BnkToTheFuture accept other modes of payments as well. Bitcoin allows people from across the world to invest in projects and companies they believe in. thus, opening up a huge contributor base for the start-ups and businesses that are looking to raise funds through the crowdfunding channel.