Blockchain’s innovation is really an economic one rather than a technological one. Of course, it is a technological means of realizing that innovation — but fundamentally its biggest contribution is in economics as a decentralized incentive mechanism.
It coordinates people’s individual efforts by incentivizing them to perform economically valuable services for those requesting it. Whether it is allowing people to be their own bank ( bitcoin), or rewarding people for offering their idle computer resources for scientific research (gridcoin) — blockchain is, essentially, all about extending the sharing economy to everything and anything.
Crowdholding announces automatic crypto transfers
The blockchain-based startup, Crowdholding, wants to bring this innovation to the realm of ideas — basically it wants to leverage the economic innovation of blockchain to improve innovation itself.
According to an official press release, the startup is releasing major updates soon, including allowing automatic cryptocurrency transfers. Users of the platform can instantly withdraw any tokens earned on the platform for productive collaboration with businesses.
More than 25 blockchain startups, including established ones such as Deep Onion, Intelligent Trading Foundation, and Peculium, award tokens for bounties on Crowdholding.
The CEO of Crowdholding, Ethan Clime, commented on the new feature — saying that it was bringing the company closer to its ultimate mission: directly connecting consumer and business.
“We are on the verge of connecting users and businesses through smart contracts in a trusted and transparent environment, allowing tokens to seamlessly move from our clients to users through the Ethereum blockchain network.”Crowdholding and the blockchainizing of ideas
Crowdholding is hoping to create a decentralized space for consumer and producer to co-create solutions for products and services. They hope to do this with a cryptocurrency-backed blockchain platform that rewards the crowd (consumers, stakeholders, and experts) for offering their insights on how to improve some aspect of their business.
A business will launch a project on the Crowdholding platform where it will ask for feedback on how to improve their offering. To garner ideas from the public, it will pledge a reward in cryptocurrency that is then given to anyone who contributes meaningfully to the project.
The YUP Token
The crowd, or users who participate in the event, will have their ideas upvoted. The more upvotes people receive the more tokens they will receive.
Users will be rewarded in the platform’s native token, dubbed “YUP token.” The YUP token is a ERC-20 utility token that will fuel the Crowdholding ecosystem — enabling them to invest or purchase products and services on the platform.
Ethan Clime stated that their goal right from the beginning was to build a space for consumer and producer to co-create business solutions.
“We are aiming to facilitate the world’s potential through co-creation. With 80% of the developed world going online, online communities are providing an astonishing way for people to interact with each other, learn new skills, solve issues and discuss and debate. Since July 2016 we have been working hard to create the perfect co-creation platform for businesses and the community”.
Learn more on the Crowdholding Website – https://www.crowdholding.com/
Chat with the team on Telegram – https://t.me/Crowdholding
Follow on Twitter – https://twitter.com/crowdholding
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