GNOSIS CROWDFUNDING

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Inspiration

There are several areas where block-chain supports and improves crowdfunding, crowdfunding platforms powered by blockchain technology removes the need for intermediate third party.

What it does

What Is Crowdfunding? Crowdfunding is the use of small amounts of capital from a large number of individuals to finance a new business venture. Crowdfunding makes use of the easy accessibility of vast networks of people through social media and crowdfunding websites to bring investors and entrepreneurs together, with the potential to increase entrepreneurship by expanding the pool of investors beyond the traditional circle of owners, relatives, and venture capitalists. ## Characteristics
Decentralization:- Since block-chain is decentralized it doesn’t rely on any other platforms to create funds. for starters, no longer to be obliged to any rules and any project can get visibility and funded if the investors think to invest, eliminates fees which makes crowdfunding less expensive for the creators.
Access Equity:- To provide investors equity or ownership block-chain relies on asset tokenization. For example, a person who plans to create multiple new products with the incoming funds and grant small ownerships stake in the company. This could potentially open whole new world of opportunity.
Peer-to-Peer:- The cryptocurrencies are exchangeable on a peer to peer network. This usually help the people for their investment which even generates more interest in the entire process.

How does it prevent scam

IF MORE THAN 50% Donor Agree then the Fundraiser can withdraw money. So when a user contributes to any idea, he actually sees all the work done by that idea, and the owner of that campaign actually puts the request to withdraw the contributed amount with the specified reason which the user can approve or disapprove. so are depending upon the approval ratio then only the money is actually gets credited into the owner's account. And this feature of approving your money to get credited into idea's owner and also knowing the reason why it is being used actually lets the user know about how their money is being used and if there seems any fishy thing happening they could actually disapprove the withdrawal request of the owner and the money is safe.