Pledgecamp is a crowdfunding platform that offers Backer Insurance—a security mechanism that holds campaign funds in a smart contract governed by backer vote. This financial incentive holds creators accountable to their promised timelines and provides a basic security mechanism for backers. Smart contracts make complicated, self-enforcing financial arrangements such as Backer Insurance possible. Customizing contracts to each situation is essentially free, enforcement is automatic, and custodianship of funds can be guaranteed secure. Pledgecamp will have neither the responsibility nor ability to mediate user disputes and receive that liability—that power will be entirely within the hands of the users involved. PLG is an Ethereum-based token that will be used to pledge campaigns and enable Backer Insurance, and it will also play a role in cultivating the community by rewarding those who provide value to the network in the form of services.
