The past few years has been rather challenging for the traditional crowdfunding campaign. Coupled with the many day and night that has been put to work by idea owners, most of these campaign fails to hit their project financial goals. Crowdfunding projects face so many challenges from enormous paperwork for regulatory bodies, the high level of competition campaign owners encounters, the high level of fraud that happens in the traditional crowdfunding campaign has also contributed to the terrific failed campaigns.

Even when a crowdfunding campaign manages to get loans from a financial institution or third party agencies that lend them financial aid for their crowdfunding budget. Down the line, they begin to suffer financially to remit their expensive loan collected from these institutions. The evidence of all these challenges can be seen from a statistic report released on January 2nd 2019 from the Statista website, which reports the success and failure rate of crowdfunding campaigns on Kickstarter "traditional crowdfunding platform" . The report states about 36.63% crowdfunding campaign are successful while 63.3% crowdfunding campaigns are unsuccessful.

Introducing WHIRL Ecosystem

The old model is fading away and it needs to give room for the next generation of the crowdfunding platform "WHIRL". WHIRL leverages the power of blockchain technology to provide a totally transparent, fair and stable model for an individual to raise fund for their project or idea through crowdfunding campaign with the help of Karma accumulated on the platform. Blockchain technology enables the WHIRL platform to curb the many irregularities, fraud, cuts of the middle man and reduce the enormous paperwork involved to carry out the traditional crowdfunding campaign. WHIRL platform enables you to live your dream, carry out medical expenses, scientific research, further your education, business pursuit, dream vacation, buy a new car, home repair, start up your company among many other legal pursuits.

The WHIRL ecosystem is a community of like-minded people, with the aim of helping each other achieve their dreams through crowdfunding campaigns. You help someone with their campaign before you are able to gain Karma to host your own campaign, the amount of karma determine how much you would be able to raise on the platform, the more karma you have the more the amount you would be able to request for your idea or project. The idea behind the WHIRL platform is to enable people who don't have the large network of financially capable people to help them live their dream, people who don't have the skill or people who lack funds to live their dream.

Why Blockchain? WHIRL Is Decentralizing Crowdfunding Campaigns.

WHIRL revolutionizing the crowdfunding platform by offering an innovative and improved crowdfunding campaigns. It leverages the blockchain technology to change the status quo in the crowdfunding ecosystem. It offers many novel solutions using blockchain technology, solutions such as:

Remove Complex Regulations And Paper Work

The traditional crowdfunding model is very unfair, an individual is trying to raise money to live their dream and they would still have to pay huge interest to financial institutions for such purpose, even if it takes selling the business or idea in question. Then, what is the point of borrowing people money if you would still require expensive interest from them? There is a lot of paperwork that goes into documentation when you are trying to collect money from financial institutions. You have to tender collateral's equivalent to the amount of money you are trying to borrow. These processes require submitting these documents to appropriate authorities, and it would undergo many validations before they finally decide to offer the financial requirements needed by the individuals.

The WHIRL platform leverage the power of blockchain technology to totally reduce the complex regulatory processes and remove the many paper works required to seek financial aid from these institutions. Blockchain provides a secure and transparent transaction and validation history stored on the ledger and every validation is carried out through the smart contract. There would be totally no need for any paperwork and complex regulation.

Totally Eliminate Fraud

Blockchain provides a secured, fast and transparent ecosystem. The WHIRL ecosystem is totally transparent and active. It uses a queuing model for every campaign. Each project is queued and it waits for the preceding campaigns to be completed before the next campaign is let out of the stack. Each person is able to host a campaign if they have been able to accumulate enough karma for the amount they want for their project. Karma's are earned based on how much you have been able to sponsor other peoples campaign. Since only one campaign can be launched at a particular time, it would drastically eliminate the chances of failure and thus more people would be able to help support a campaign so they themselves would be able to host their own campaign. These make the cycle ever hungry to support a project, and thus the cycle of ever willing contributors would continue for the growth of the platform. The more you are able to help others the more you are able to raise yourself.

Conclusion

The WHIRL ecosystem is revolutionary and its evolving, it promises to deliver a transparent, secure, fast and stable ecosystem that is socially driven "Pay it forward". A new way to raise money and live your dream, the more you help others the more you are able to raise yourself to live your own dream.

Visit their official website, join their social media communities and consult the official documents for more information about the project.

Official Contacts

Website: https://whirl.com
Telegram: https://t.me/whirl_news
Whitepaper: https://whirl.com/WHIRL_WP.pdf
Twitter: https://twitter.com/whirlofficial
BitcoinTalk ANN: https://bitcointalk.org/index.php?topic=5039448.new#new

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This article is not a financial advice. Investing in ICO may be extremely risky, always remember to do your own research and consult financial and legal advisors before investing in ICOs.