Decentralized crowdfunding startup Swarm has announced the first class of businesses that will feature on its bitcoin-powered platform.
The crowdfunding platform’s application process saw a number of groups submit applications, with a select few advancing to the video presentation stage. Entrepreneurs hoping to take part in the initiative pitched their projects, all emphasizing the importance of decentralized innovation.
The company now says that five companies and organizations comprise its first class:
Digital currency-focused publication Bitcoin Magazine will also take part in the inaugural Swarm class.
Leading the way
As Manna’s Eric Smalls noted in his YouTube presentation, decentralized processes represent the future of computing, as embodied in the drone network he and his organization hope to fund via Swarm.
Smalls explained that this approach can enable broader technology adoption, saying:
Swarm’s official 5th November kick-off in Silicon Valley will see the groups demo their projects and initiatives in what the company is calling the world’s first decentralized demonstration.
The groups taking part in the launch represent different types of next-generation businesses that take advantage of decentralized structures and processes, according to their developers and creators.
Swarmops creator and Swedish Pirate Party founder Rick Falkvinge explained in his video that his project came out of that political group’s efforts to create power structures that drew their authority from decentralization.
By breaking this process down and platforming it in a decentralized software format, Falkvinge argued, you can remove bureacratic headaches entirely and create a more engaging governmental process.
He explained that the inclusion of digital currency technology makes the process that much more trustworthy, saying:
Sol Lederer of Coinspace said that he wants to use his decentralized workspace concept to help cryptocurrency businesses take root in an inclusive, proactive environment. Doing so, he argued, will enable this unique class of startups to foster and grow, and that this also means using cryptocurrencies as a financial tool.
Lederer added that Coinspace will develop its own cryptocurrency to help facilitate operations, and that bitcoin or other digital currencies will be used to pay salaries, manage accounting and facilitating other financial processes at the workspace.
Making cryptos fun
Outside of government and business structures that operate on the basis of decentralization, Swarm is supporting projects that aim to bring these principles to the areas of recreation, entertainment and culture.
DDP has thrown several crypto-themed parties and took part in the most recent Camp Dogecoin at the annual Burning Man music festival in Nevada. According to its official website, the group hopes to promote greater social consciousness by creating inclusive environments for fun and recreation.
When discussing Camp Dogecoin earlier this year, creator Gary Lachance told CoinDesk that the nature of dogecoin makes it an ideal vehicle for connecting with a broader audience in a decentralized, open way.
is the force behind a number of family-friendly video games, including Jerry Rice and Nitus’ Dog Football – a 2011 game for the Wii that received favorable reviews for its unique concept and style. The company hopes to leverage its participation in the first Swarm class to expand its existing content base and develop new projects.
, the firm's co-founder, small businesses like his have a real need for platforms that enable simple crowdfunding mechanisms.
“We think Swarm is going to be one of the front runners in that," he said.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.