AZ FundChain Application Will Vastly Improve the Field of Crowdfunding
There is no doubt that traders have experienced a tumultuous past 12 months, to say the least. While the future remains bright for major cryptocurrencies like Bitcoin and Ethereum, many smaller projects have experienced massive disappointment. Although quite a few projects will likely close up shop during the next few years, several promising blockchain based applications are sure to thrive. One such application that appears to have a ton of potential is AZ FundChain.
AZ FundChain Background
Many traders are certainly familiar with traditional ways of raising operating capital. While many larger companies have the option of selling equity or debt, smaller companies are forced to be a little more creative. A few options to raise money include ROSCA funding (also known as money circles) and crowdfunding.
ROSCA (Rotating Credit and Savings Association) is an alternative financial vehicle in which a group of individuals fill the role of an informal financial institution. The members pool their money into a common fund, generally structured around monthly contributions. Traditional crowdfunding is probably a little more well-known thanks to sites such as Kickstarter and GoFundMe. Although there are a lot of benefits to these types of funding, there are also several drawbacks. That is where FundChain comes in to the picture.
FundChain is built on blockchain and runs completely decentralized. This is critically important because decentralization eliminates a few of the problems commonly associated with ROSCA funding such as trust issues and high operating fees.
Whenever a new application looks to disrupt an industry, it’s important to look why the new app might gain a foothold. FundChain has four major advantages which include the following:
- AZ Token
Decentralization is extremely important. FundChain runs on blockchain so users don’t have to interact with the blockchain directly. Most users wouldn’t even know where to begin with that so it’s a major selling point. Additionally, each crowdfunding creates a new and unique smart contract using AZ Token as the fuel. The rules, conditions, and participants are included on the blockchain upon the contract’s creation.
Transparency is one of the bedrocks of FundChain. Using this app, participants will be able to track the status via blockchain. Circle organizers won’t be able to charge surprise fees and crowdfunded business owners will have to spend the funding as laid out in their plans. FundChain aims to end the shenanigans.
One of the best aspects of the application is accessibility. The application is available on both iOS and Android so anyone with a smartphone will have access to it. Additionally, because of this, everyone around the world will be able to participate eliminating regional restrictions that occasionally plague traditional crowdfunding.
The last major advantage is the company’s native token, AZ. Every single circle and funding will run through a unique smart contract. In order to create this smart contract, AZ Token will be required as the fee payment.
The last point is a major reason why AZ could see significant gains in the future. The AZ Token should have continuous demand as it will be bought back from the open market through transaction fees.
AZ FundChain is currently conducting its ICO (Initial Coin Offering) and will sell 11.7 million tokens. The sale is expected to last 30 days with 1 AZ Token worth $0.63 USD. As mentioned above, there are lots of reasons to be optimistic about the project from a business perspective. From a token owner’s perspective, it could make a for a great long-term hold as the AZ Token should see significant demand as the transactions ramp up.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
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