Using blockchain technology, it aims to help startups from any country to sell pre-orders for their product with cryptocurrencies. This solves the main issues that crowdfunding is facing worldwide: geographical limitations and long transaction times. These obstacles are due to the heavy reliance of this sector on intermediaries like banks and payment providers.

Boomstarter.Network aims to remove these third parties from key crowdfunding operations, providing a direct link between startups and their buyers. This will cut the wait time to process transactions between entrepreneurs and backers from weeks with banks to minutes with blockchain.

The fintech company also plans to solve the discrimination found on some of the biggest crowdfunding services that only allow startups from a handful of developed countries. As a result, only a third of the worldwide entrepreneurial community is served by existing crowdfunding platforms. This inequality is also due to the restrictions set by the intermediaries.

The idea of Boomstarter.Network is to add blockchain technology to the existing profitable business. Smart contracts on the Ethereum network will replace the intermediaries. The potential is solid: the global transaction value for rewards-based crowdfunding in 2017 was over $6.5 billion dollars, with an impressive uptick of almost 50% from a year earlier.

Boomstarter.Network ran an extensive campaign both online and during the events around the world to reach the important milestone. Maria Dokshina, CEO of Boomstarter.Network, says:

“We would like to thank all our fans and friends. It is your support that helped us make it happen. The feedback we had on social media and as well as during our global roadshow indicates we’re building something important to change this world for the better.”

The blockchain-based crowdfunding company will also engage the wider audiences to take part. It will provide an easy tool to generate popular virtual currencies with home computers. The users can then contribute the cryptocurrency they mined to the startups of their choice. This scheme will help startups to develop very motivated and active communities, regardless of geography or income level.

The total amount of funds raised is now over $3 million with the sale continuing. Boomstarter.Network invites everyone to take advantage of the limited bonus offer available at https://boomstarter.network

Boomstarter.Network is based on Eastern Europe’s largest crowdfunding platform launched in 2012 focusing on helping business-oriented startups to sell their pre-orders. The fintech company has assisted thousands of emerging entrepreneurs to build strong communities, to successfully raise funds and implement their new products and services.

The post Boomstarter.Network Reaches Soft Cap in Ongoing Tokensale to Build Blockchain-based Crowdfunding appeared first on CoinSpeaker.

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