With the advent of Blockchain technology, people around the world have access to new and exciting possibilities. One of the most innovative fundraising techniques was just beginning to gain traction among start-ups in the last century was crowdfunding. In the aftermath of the 2008 financial crisis, crowdfunding emerged as a new form of revolution to the fundraising process. SUMMIT, which is a crowd marketing platform with programs based on blockchain technology, aims to connect global members to the digital economy and providing them with various opportunities around the world. Coupled with blockchain technology that provides users with a transparent way of distributing funds through smart contracts (TronScan), SUMMIT harnesses the power of the community to be the driving force of the economy for the limitless future.
“Due to the widespread adoption and social acceptance of the modern information age, crowdfunding expanded on a large scale, providing the infrastructure to reach millions of investors and supporters online. Today, through blockchain disruption, crowdsourcing could be revolutionized to unlock new uses and provide global reach. SUMMIT was designed to help people explore the full potential of crowdsourcing powered by blockchain disruption”, said one of the developers.
The developer stated that within the first 30 days of SUMMIT’s crowdfunding campaign preparation, close to 2000 users have registered and the numbers are likely to hit 50,000 at the end of first quarter 2022. As of October 1, 2021, over $1.9 million USDT has been invested in campaigns, or nearly $70,000 USDT per day.
The developer also quoted Businesswire, stating that global crowdfunding market is forecasted to grow by $196.36 billion during the period of 2021 till 2025 with Blockchain technology and niche crowdfunding platforms set to lead to a sizable demand. Taking this into account, SUMMIT will be looking to gain traction within the global fintech sector, especially in the wake of the COVID pandemic.