an all-encompassing, distributed & global crowdfunding platform

Our Funding is a platform created with the purpose of catalyzing the gift economy by making crowdfunding campaigns straightforward and cost-effective for individuals, communities, and institutions. It is designed to be securecryptographically secured using asymmetric public-private key pairing, globalunlike most other crowdfunding platforms in existence today, that only allow campaigns coming from the first world, unenclosableit runs distributed using Holochain, and as long as there is at least one peer willing to run it, it will exist, distributed, censorship-resistantnot under anyone's control or authority, and supportive of micropaymentsmost other crowdfunding platforms in existence today have a minimum amount of a few dollars per transaction.

Campaigners have the freedom to choose between raising monthly recurring funding or per project funding. They receive the funds in Our Funding fuel, a mutual credit currency designed specifically for this use-case—which is backed up by global crowdfunding campaigns as its value assets.

The project is free and open-source software, and uses a ‘<1% Transaction Fee’ business modelthis is a temporary measure and the transaction fees will be dropped once the movement becomes sustainable through donations — fully embracing the gift economy. It is wholly owned by Our Foundation, a non-profit organization which exists solely as a mechanism to institutionally support Our Movement—itself a movement aiming to promote radical social change by catalyzing the emergence of resilient communities.

Background

Though crowdsourcing platforms were the pioneers of the so called Gift Economy, they also became its main defectors—amassing large profits from the 5-12% transaction fees imposed on every donation. Moreover, the exclusivity of these platforms is problematic, since they often operate only in first world regions and require at least a few dollars to support a project. These practices shun from crowdfunding the people with the greatest need for financial support, as well as enthusiastic donors who might not have much to give. Finally, these platforms are centralized, which allows them to censor campaigns arbitrarily.

Proposal

Our Funding will tackle the crowdfunding market by disintermediating for-profit entities—much like Holo will be doing to cloud computing. It will be one of the first true peer-to-peer platforms, completely devoid of any central servers all the while coordinating global scale crowdfunding.

The sections below will try to explain how the platform works.

Usage

Many factors set Our Funding apart from the dozens of existing crowdfunding platforms, the main one being its adaptability to users’ needs. Campaigners, using their unique handle, can run multiple campaigns simultaneously under one profile, with the choice of having monthly recurring funding or time-limited per project funding. A musical artist, for instance, could have a recurring monthly campaign to support their regular music production, while also having a separate project campaign for a documentary film that they wish to create and demands a much larger budget.

Supporters, on the other hand, can contribute to several different campaigns that interest them through micropayments—donors can literally give a fraction of a cent to any campaign they desire. This feature becomes particularly key for campaigns in poverty-stricken areas, where the smallest amounts donated can make enormous differences. One of Our Funding’s main intentions is to correct this problem and allow easy, unlimited, and flexible access to aid from and to any place on the planet.

Currency

The currency that will be used to pay hosts for their service is called Our Funding fuel, which is a mutual credit currency specifically designed for this use-case. Based on the design of Holo fuel currency, global crowdfunding campaigns are the assets backing up its value. This currency will allow for millions of micropayments to take place on a daily basis to power the platform. It is also designed to be value-stable; once it reaches critical mass adoption it will only change in value ever so slightly as economic activity increases or decreases. Unlike blockchain-based cryptocurrencies, which fluctuate in value by huge leaps every day, this currency will be stable enough for day-to-day transactions.

Our Funding fuel will be redeemable in reserves and exchanges for other mutual credit currencies, cryptocurrencies and national currency. Some campaigners may choose to redeem it right away when they get rewarded, while others may use it to reward other campaigners later on. There will be two ways to obtain the currency: either buying it in an exchange or starting a fundraising campaign.

Moderation

Moderation for the platform will be conducted by the community rather than by employees. Every single campaign submitted will have to be marked as valid by a set number of randomly chosen participants. If a fraudulent campaign slips through, it can be flagged as such later on by any participant—and get suspended when a set number of flags have been raised. Then the community will have to manually investigate the case and decide how to proceed.

Data integrity

Since the platform is built on Holochain, all data that is uploaded will be retained forever—due to immutability of data by being in an append-only database. Moreover, Holochain's agent-centric nature guarantees mutual sovereignty for both the individual and the group because all data exists in the agent's local chain. The data is then submitted in the shared space of the group, which means that the group cannot erase data contributed from the agent, but also the agent cannot take back data that has been already submitted to the group’s shared space. Due to agent-centrism, where all agents own all their data in their local chains, Our Funding will be by default a GDPR compliant platform.

Fees

The project will charge <1% transaction fee, and all the profits will be directed to the parent non-profit organization, Our Foundation. The profit will then be used to fund projects as decided and prioritized by Our Movement. Transaction fees will gradually descend to 0, as the Movement grows more and more sustainable through donations—fully embracing the gift economy.

ICO (Initial Community Offering)

We aim to conduct an ethical ICO (Initial Community Offering) by 2020 for the purpose of raising funds to further develop the platform’s working prototype. It will be conducted out of Liechtenstein, and will only be accessible to individuals who have been KYC whitelisted and coming from specific countries, likely excluding: USA, China and South Korea —due to lack of legal clarity. We will also implement investment daily caps to ensure a fairer participation.

License

This software is free and open-source, and its source code is licensed under Peer Production License (PPL).check Peer Production License for more information

Status

This platform is in the ideation stage and will be built using HolochainHolochain is a DLT that enables p2p communication efficiently and at scale. It is open-source and is made by Metacurrency Project for handling data storage and integrity and QMLQML is a declarative language designed specifically for composing efficient App User Interfaces. It is open-source and is made by Qt Project for the user interface (UI). It will be accessed most commonly through web browsers but there will also be native apps for major Operating Systems. The platform will be fully distributed and run among its peers.

our-funding.org website code is licensed under CC BY-NC-SA 4.0 — unless otherwise noted