Crowdfunding platform Kickstarter planning move to blockchain. How will it work? Your guess is as good as ours

Don't worry, it'll be carbon neutral ...

In an appropriately nebulous blog post, Kickstarter, the non-profit crowdfunding site, has announced it will move to a decentralised model via the dreaded blockchain.

Some online reaction to the announcement was justifiably bemused, with some comparing it to "word salad." It contains little solid technical content – so, fairly typical of a "web3" announcement, then.

The public benefit corporation said more information will follow soon in a white paper. The Reg will look into the claims in more detail, once there are details to look into.

For now, Kickstarter says that it will use the Celo blockchain, which claims to be carbon-neutral because it uses offsetting.

Carbon offset, as Reg readers know, is a concept whereby you mitigate harm done to the environment by buying "credits" (for example from a land restoration or tree-planting outfit) to balance your climate chequebook – an idea that has come in for a lot of criticism over the past 15 years or so from experts who say it doesn't work.

For some, the use of blockchain might be a concern in a site that takes your money and holds on to it until a new product is ready. Kickstarter has said backers will still be able to pay with normal cards, however, and creators will receive real money.

In the meantime, we are sure that Indiegogo, Patreon, GoFundMe, WeFunder, Chuffed, RocketHub, Fundify, and MightyCause will be watching closely. If this move does not go well for Kickstarter, then even though it's currently one of the best-known in its field, there are plenty of rivals ready to take its place. ®