Kickstarter has announced it will not hurry wits its blockchain initiative after it it received concerns about the technology. The company said in a blog post it will first study blockchain more deeply as the market has real environmental issues, scams, speculation, and risks. Kickstarter explained:
"These new technologies are tools that are only as good as what they're used to build. It’s our responsibility to make sure they serve creators, backers, and the entire creative ecosystem, and that we are designing thoughtfully with full awareness of the challenges."
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The crowdfunding platform announced further actions it will take to make sure its path correlates with the interest of community:
- Will not move Kickstarter.com onto the new protocol unless it has been tested.
- Will establish an advisory council made up of a diverse range of Kickstarter users and participants to inform about next steps.
- Will develop a new organization with its own clear mission and guiding charter.
Kickstarted revealed about its plans for blockchain in December 2021. The company said then that decentralization will result in innovation like the world has never seen before, adding that it will be key to the future of crowdfunding.
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