Over the past month there has been quite the buzz around the upcoming business and crowdfunding platform called SWARM which launched on the 17th of June. According to Joel Dietz, CEO and founder of SWARM, SWARM will be the next big thing in in the crowdfunding landscape for years to come. If it is measured in the eagerness, vision and drive of the SWARM employees then SWARM will succeed.
People can also invest in SWARM by helping SWARM get the funds they need. How does one get SWARM coins, which are also called tokens? You go to the SWARM site and follow the instructions: Download their wallet and send out your desired BTC. How much SWARM coin you will receive depends on the phase SWARM is in (this can also be found on their website).
Furthermore SWARM will use a decentralized equity system. This is being done to counter centralized oversight from higher powers and thus this follows in the footsteps of Bitcoin: Anonymous and no oversight.
Whenever a great idea turns into a business there are always sceptics. This also goes for SWARM. Critics are always a good indicator to see if your product works or where there need to be some minor adjustments, provided it is constructive critique.
For example: “….Is anyone aware that Nxt has a functioning decentralized asset exchange that has crowdfunded a number of projects already (Sianote, Dotsforbits, TheNxtDice, Cryptomart) and that at least one of them (coinomat) is already paying dividends to asset holders? Unlike SWARM, this exists *now* and has been live for more than a month; moreover, it’s running on a blockchain that processes transactions in 60-80 seconds, and not ten minutes. If you’ve ever actually *used* Counterparty, you know how much of an impact that has…just read NXT’s newsletter.” Joe Hill discussed with us yesterday night.
Yes, it is true that there have been crowdfunding actions in the past and yes some have been very successful. However we aren’t aware that there has been a platform created solely with the purpose of crowdfunding in the Crypto world.
SWARM and the whole crowdfunding idea is excellent, especially in these economic hard times. Most of the people that have great ideas but lack the funds to build up a business will not get the necessary loans from the banks. As such crowdfunding is the best option to get the funds someone needs to get their project “kickstarted” so to speak.
Critics need to be patient with upcoming businesses. Most of them are up to their ears in work and have a lot on their minds. Does this mean the “critics” should pack their bags? No of course not but some should adopt a “wait and see” posture.
Joel Dietz will be speaking at the Coinsummit that is being held in London next week. We will be attending this Coinsummit and are looking forward to hear him speak about SWARM.