SAN FRANCISCO (PRWEB)
December 02, 2017
DropDeck, a digital platform that coordinates funding for small businesses, is introducing a new currency. Known as Decentralized DropDeck or DDD tokens, this cryptocurrency will become available on November 21st.
DropDeck takes advantage of the Ethereum blockchain to design smart contracts, secure payment records, and other tools essential to obtaining and safeguarding funding for new ventures. The platform makes it easier for new businesses to find funders who are willing to fund their activities, while helping those funders be confident that their money is going to a worthy venture. It also compensates those who conduct due diligence on behalf of fundraising companies, as well as those who evaluate and publicize information on the ventures looking for funding.
By introducing DDD tokens, DropDeck hopes to ensure reliable payments for funders, evaluators, and due diligence delegates. It also seeks to change the incentive structure, giving all users a financial motivation to look out for the good of the platform. Once the currency becomes public, everyone who holds it will have a vested interest in the platform’s popularity and quality.
An Introduction to DropDeck
DropDeck was created to resolve one of the most serious limitations facing startups: uncertainty. For new businesses to arise and expand, entrepreneurs must have access to loans on generous payback terms. This means they need to look for funders who will take an interest in their projects and whom they can trust to fund them consistently until they become profitable. Likewise, funders need to find business ventures that are likely to turn a profit soon enough to make their investments worthwhile. Both parties thus need to find accurate, detailed information on each other.
With DropDeck, these two parties can obtain the information they need with ease and be confident that it is accurate. The platform guarantees these results through:
Blockchain Access-control- DropDeck uses blockchains from the cryptocurrency platform Ethereum as an access-control center to its data storage used for machine learning. Blockchain technology is a method of storing information that links records together into chains. If one link is tampered with, the whole chain changes. As a result, it is effectively impossible for startups, funders, and third parties to…