DropDeck: The Blockchain Based Funding Platform for Startups, a Review




dropdeck

DropDeck is a funding platform built over Ethereum Blockchain. The underlying blockchain protocol imparts the platform with payments, smart contracts and consensus mechanism related capabilities. The DropDeck platform is designed to address various issues related to cross-border funding for SMEs and startups

The innovative platform is powered by its own digital token, Decentralized DropDeck (DDD). These tokens not only facilitate the cross-border funding feature but also incentivizes the token holders through a smart contract, encouraging them to be part of the network.

The DDD tokens are meant to be issues and distributed as an ultimate reward for its participants within the funding value chain. The aim of DropDeck is to help funders apportion capital to the companies that deserve them most while it receives information regarding the Potential Scores of such company. The Potential Score depicts the degree of risks and potential in comparison to profitability.

How DropDeck Works

  • The Hunter finds a company worth funding and posts it on DropDeck
  • Evaluators cast evaluation on different claims of a company, contribute to its scores and ranking
  • Funders screen companies on DropDeck based on ranking and score and pays DDD to see further details on interested companies
  • Once the funder pays to see details, evaluators are rewarded with DDD
  • Funders who decide to fund a company would send DDD to a smart contract
  • Delegates are requested by the funders or company to conduct due diligence on the chosen company
  • Both the funders and the company approve a delegate to be part of the smart contract and carry out loan terms
  • Immediately the delegate is approved, the smart contract directs DDD to the Hunter and the company
  • The approved delegate makes legal arrangement with the company to enforce the repayment
  • The company sends DDD to a smart contract depending on the terms agreed on.
  • The smart contract directs a percentage to the auditor and the funder

How to spend DDD

  • Cast an evaluation
  • Send DDD towards repayment or funding smart contract
  • Pay for premium features
  • Pay for score verification

How to Earn with DDD

  • Get rewarded as a Funder, Delegate Evaluator or a Hunter
  • Predict a company’s funding outcome correctly
  • Borrow DDD from Funders

Features of DropDeck

  • Minimization of risks
  • Instant funding for companies that are in urgent need of capital, irrespective of their geographical location.
  • Transparency in monitoring the spending of companies
  • DropDeck optionally holds the tokens before all requirement are met
  • Smart contracts for incentive system (trust, evaluation, reward, etc.)

DropDeck is organizing a presale followed by its main crowdsale. Participants in the token sale can purchase DDD tokens at attractive pricing.

More information about the platform and token sale are available on the DropDeck website.

 

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

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