Giant Russian Crowdfunding Platform to Accept IOST Cryptocurrency from Global Investors
The IOST Foundation, an organization supporting the ongoing development
of IOST (a scalable layer 1 blockchain network for mainstream online services),
has announced that it has successfully completed its integration with
Established in 2012, Boomstarter is among the biggest crowdfunding
platforms in Eastern Europe. As noted in the announcement, IOST’s
cryptocurrency will be used to raise capital for various blockchain projects
listed on Boomstarter.
800,000 Registered Users, 300,000 Unique Visitors Per Month
Since launch, Boomstarter has reportedly supported more than 2,000
different projects and has helped project founders and developers raise $7
million for various initiatives. The Boomstarter platform has attracted around
200,000 investors located throughout Eastern Europe.
At present, there are over 800,000 registered Boomstarter users and the
online platform receives approximately 300,000 new visitors each month.
According to the IOST Foundation, the widely-used crowdfunding platform may
soon be accessible to investors in India, Africa, and Latin America.
Accepting Payments in Bitcoin, Ether, IOST
IOST’s partnership with Boomstarter involves accepting investments from international investors that will finance different projects from indie creators, developers, and makers. Payments will be accepted in Bitcoin (BTC), Ether (ETH), and IOST.
Boomstarter’s management is also planning to support transactions with
iUSD, a stablecoin used by the IOST ecosystem.
Non-Profit Healthcare Services Launched with Funds Raised on Boomstarter
One of Boomstarter’s most notable projects involved setting up and
covering operational costs of hospitals located in remote villages of Guatemala
and Nicaragua. Over $52,700 were raised through the crowdfunding platform via
two separate campaigns.
Total capital acquired for the hospitals was 125% of the fundraising
target, with the initiative being backed by 1,919 different investors. The funds
from the campaigns were used to establish a clinic in the mountains
of Guatemala. The non-profit clinic reportedly serves more than 700 patients
(mostly women and children) every month.
Another fundraiser supported by Boomstarter involved raising $32,000 in
order to fund the launch of a reflective satellite into space. The initiative
was introduced to promote interest and awareness about the importance of space
One of the main objectives of using reflective satellites is to obtain
air density data, and learning how to brake satellites in orbit and “de-orbit
Boomstarter to Operate IOST Partner Node
In addition to supporting the IOST cryptocurrency on its platform, Boomstarter
will reportedly operate an IOST Partner Node. Boomstarter’s node was onboarded
into the crypto’s ecosystem by IOST BEST Node, which also helped in integrating
the IOST cryptocurrency onto the Russian crowdfunding platform.
According to P2PMarketData, the
Commonwealth of Independent States Region, which includes Russia, Ukraine,
Moldova, Belarus, and Armenia, has recorded the fastest crowdfunding growth in
Europe (465%) this year.
Cryptocurrency transactions have also become increasingly popular in
European countries suffering from high levels of inflation.
“IOST views Russia and Eastern Europe as some of the most promising areas for expansion. Certain areas around the world — such as Eastern Europe and Russia — do not have as strong of a legacy financial system as the West or China, which means that the average citizen or small business entrepreneur may be overlooked and access to funding is quite limited.”
Zhong, a mathematics and computer science graduate from Emory
“As the crypto markets develop over time, more cryptocurrency use cases will start to emerge prominently in areas such as P2P lending, business loans, collateral, and international payments.”