Kickstarter moving to blockchain

[UngainlyTitan]

How does an immutable ledger that can be traded after the fact help Kickstarter or it’s customers the KS runners or the backers?

In theory it should be cheaper since it does not require a central database and the security that goes with that since all actors partaking have a copy of all the transactions.

 

[RealAlHazred]

Of, for love of fleep! Kickstarter doesn't need fleeping blockchain!

For those unware of what it is, to quote IBM:
"Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved."

What Is Blockchain? | IBM

Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.

www.ibm.com

Blockchain is an underlying technology to bitcoin systems - it supports the creation of an immutable ledger of transactions independent of the people who make the transactions. In bitcoin's case, it keeps the people who make the transactions anonymous.

Since bitcoin is (nigh inexplicably) a big thing, "blockchain" has become the new buzzword technology.

Well, we need to put ENWorld on an agile blockchain NFT, stat! looks around authoritatively, as if he had the faintest idea what any of those words meant

 

[Umbran]

I agree that Kickstarter does not need it but would be a good testing ground for a non currency blockchain system.

"Non-currency blockchain" for what? Kickstarter isn't handling non-currency assets! Kickstarter takes currency from backers, and gives it to the people who run projects. Using blockchain for the very basic accounting involved is in "bazooka to swat a fly" territory.

Strikes me as a way to attract the kind of venture capital funding in a way that Kickstarter is not sexy enough to attract.

Sounds like a way to include a checkmark buzzword to get venture capital funding, you mean.

 

[J.Quondam]

Well, we need to put ENWorld on an agile blockchain NFT, stat! looks around authoritatively, as if he had the faintest idea what any of those words meant

Need moar metaverse, NOW!!

 

[UngainlyTitan]

"Non-currency blockchain" for what? Kickstarter isn't handling non-currency assets! Kickstarter takes currency from backers, and gives it to the people who run projects. Using blockchain for the very basic accounting involved is in "bazooka to swat a fly" territory.



Sounds like a way to include a checkmark buzzword to get venture capital funding, you mean.

well, Yeah, Venture capital attraction seems to be where its at.

 

[Grendel_Khan]

This won't mean anything for Kickstarter campaign creators or backers. It's not cryptocurrency or anything of the sort. All backend stuff. Truly nothing to see here. Like getting freaked out that any website is going to blow up because spam and viruses!

I say this not as some white knight for crypto and NFTs and related grifts. Blockchain supports all kinds of things.

 

[Umbran]

In theory it should be cheaper since it does not require a central database and the security that goes with that since all actors partaking have a copy of all the transactions.

In theory, blockchains are (or can be) distributed. But if Kickstarter thinks it is going to make either the backers or the project owners keep copies of all the platform's transactions, they are insane.

 

[Ulfgeir]

Uhm, that was weird. And I must say I can't really make heads or tails of why they are doing it and what they hope to gain by it. Is it so you can have kickstarters for NFTs?

And if it is so people can pay in cryptocurrencies, then I must say I am sceptical to say the least.

 

[Janx]

yeah, the whole thing is stupid.

If it was just so they could take payment in Bitcoin or what have you, that's not "blockchain"

that's installing a module to process bitcoin or outsource to the bitcoin payment processor.

Like Paypal is for millions of websites that sell stuff.

At best, KS needs to follow OWASP for securing the data they do have, which should be limited unless they are processing credit cards directly. In which case, that falls under PCI standards.

 

[Grendel_Khan]

In theory, blockchains are (or can be) distributed. But if Kickstarter thinks it is going to make either the backers or the project owners keep copies of all the platform's transactions, they are insane.

That's not how blockchain works. In this context it's mostly about how the data gets structured. The point, in part, is that you don't have to keep those records yourself--they get generated automatically, and can be referenced later. It makes stuff both easier to verify and harder to hack/break/tamper with. It isn't perfect but neither is two-factor or private cloud or anything else in the world (digital or otherwise).