Kickstarter was and will always be beholden to their credit card processors and a painful lesson in picking one’s payment provider carefully. It’s your payment processors fraud risk department which dictates which products and services you offer not your own team. This decision is a 100% dictated by pigeonholing themselves here and losing out to gofundme.
After Philips caused a stink about LifX[1], it was the threat of losing their payment partners that caused Kickstarter to ban all sales of hardware [2]. They would later walk back that decision but not before we launched our own open source competitor that went on to do $100m, including Bitcoin support in 2012 [3].
Which is to say decentralized payment systems solve a lot of problems for crowdfunding platforms. Specifically Kickstarter missed out on the explosive growth that GoFundMe captured because Kickstarters payment processor said “no” and GoFundMe’s said “yes”.
But switching to Celo or some other platform in 2021+ feels too little too late for a platform whose culture has ossified.
After Philips caused a stink about LifX[1], it was the threat of losing their payment partners that caused Kickstarter to ban all sales of hardware [2]. They would later walk back that decision but not before we launched our own open source competitor that went on to do $100m, including Bitcoin support in 2012 [3].
Which is to say decentralized payment systems solve a lot of problems for crowdfunding platforms. Specifically Kickstarter missed out on the explosive growth that GoFundMe captured because Kickstarters payment processor said “no” and GoFundMe’s said “yes”.
But switching to Celo or some other platform in 2021+ feels too little too late for a platform whose culture has ossified.
[1] https://www.npr.org/sections/alltechconsidered/2012/09/03/16...
[2] https://techcrunch.com/2012/10/07/the-story-of-lockitron-cro...
[3] https://github.com/apigy/selfstarter/pull/22