Industry

Reviewing Whirl: The New ‘Karma-Driven’ Way of Crowdfunding While Encouraging Charity

Guest Author | November 20, 2018 | 12:39 pm
whirl, crowdfunding, karma
Industry

Reviewing Whirl: The New ‘Karma-Driven’ Way of Crowdfunding While Encouraging Charity

Guest Author | November 20, 2018 | 12:39 pm

The saying ‘what goes around comes around’ is perhaps the best description of the ‘Whirl’ project. ‘Whirl’ is a consumer crowdfunding solution that aims to finance dreams and obligations while introducing a revolutionary incentive system to encourage giving. It is socially driven and rooted in traditional crowdfunding where people come together to pool resources towards the direst projects.

The platform can be used to finance anything, within reason; from scientific endeavors to personal goals to medical bills to new business ventures. Essentially, it allows one to fund a dream or obligation by simply being charitable rather than taking out loans or begging for funds from family and friends.

Socially Driven and Open to Everyone Globally

The project is blockchain-backed which makes it open to everyone globally without limits. It is a cut above the rest in that it is more than a crowdfunding platform pegged onto the blockchain network. It allows one to fund their traveling dreams, mountain expedition, educational fees, businesses as well as hospital bills while supporting nonprofits and the destitute.

Additionally, the Whirl platform guarantees a 100% success to all projects listed under a campaign. The exceptional success rate will be achieved by using a fair and transparent queue system that limits the number of listed by each campaign at any given time. Also, the platform allows only those with a history of contribution on the platform to create fundraising projects.

Giving Economy

The Whirl blockchain platform is powered by WRL tokens. In addition to these tokens, the platform uses the concept of Karma, which is a reward system that supports the giving economy within Whirl. The Karma points are issued to those who contribute to campaigns listed on the platform. Explaining Karma’s basis and the platform’s design, one of the founders Roel Wolfert states,

  “[Whirl] is fueled by the mantra that the more you give, the more you receive.”

For every dollar one spends supporting someone else’s campaign, they earn 7-20 Karma points. Consequently, to launch one’s own campaign, a threshold number of Karma points is set. Based on the number of points accumulated, the campaign size and duration will be decided.

A Powerful Idea Backed by Experienced Professionals

The launch of Whirl comes after years of research by a team of 20 experts drawn from a broad business network. In the time of increased frauds and cybercrimes, the project takes pride in being the market’s first credible blockchain powered consumer crowdfunding platform. In the past year, the Whirl team has developed its entire system and acquired full legal accreditation to conduct business.

It is best poised to take care of the unattended needs of consumer crowdfunding and charity in the current markets. This is so because the project brought together an all-star team of nonprofit, blockchain and crowdfunding veterans. They include Martijn Hekman (NGOs, UN), Roel Wolfert (Transtrac International, Bancor, Liqwith Foundations), Valery Zobov (MegaLine) and Anti Danilevski (KICKICO).

Currently, Whirl supports 12 different cryptocurrencies along with the platform’s own WRL. The list of supported cryptos includes ADA, BTC, BCH, EOS, and ETH.  Contributions made on Whirl using WRL tokens earn the user 10 Karmas per dollar. Similarly, contributions made using partner cryptocurrencies will earn 8.5 Karmas a dollar whereas other crypto payments will earn 7 Karmas.

Whirl will soon embark on a token sale campaign, allowing participants to purchase its native WRL tokens at discounted prices.

Image: Pixabay
   

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