FundRequest launches a Blockchain Incentive Platform for Open Source Projects

Share with:

After over a year of development, FundRequest has released a new Blockchain platform built specifically for the funding, claiming, and rewarding of open source contributions. The company aims to introduce a new approach towards open source development that benefits both the developers who are creating the code and the organizations that use it with the overall goal of further driving the applications of open source technology.

“We chose to build FundRequest on the Ethereum Blockchain because it embodies the nature of open source development mixed with the immutable technology of the Blockchain,” said Karel Striegel founder of FundRequest. “The team at FundRequest are open source enthusiasts and we built our platform to solve a need that we saw from our own work at other organizations.  We feel like we are doing something that is giving back to developers while also solving a crucial business need for organizations.”

The use of open source platforms and technologies, from Linux to WordPress, has exploded in adoption amongst businesses and industry over the past decade.  Open source is often at  the ‘bleeding edge’ of software innovation and matches the pace of innovation within the corporate world.  Most organizations realize this and turn to open source to develop software solutions and in the US alone, it is estimated that over $60 billion each year is saved by companies using open source technology.

Developers often work on open source projects to contribute to communities and technologies they are passionate about or simply because the resources afforded by crowdsourced solutions are better suited to solve a particular issue.  According to a 2016 Future of Open Source Survey the numbers of respondents that made contributions to open source projects was 65 percent, 50 percent higher than it had been since a similar survey conducted in 2010. The uptick in the development of open source projects has caused communities, like Github or StackExchange, to flourish.

Bridging Developers and Business on the Blockchain

On a similar rise, Blockchain systems stand to disrupt intermediaries in marketplaces. FundRequest seeks to bring to users the power of a disruptive Blockchain platform that works in correlation with open source communities.

With FundRequest, users will be given access to a decentralized ecosystem that provides code-enforced guarantees against corruption. Thanks to the immutable distributed ledger of the Ethereum Blockchain coupled with smart-contract governance, clearly coded syntax for transaction processing will nullify vagaries currently present in today’s centralized intermediary verification model. The company’s flexible system utilizes metrics of functionality from projects on open source platforms like Github, supplying this data to smart contracts that autonomously disperse funding per request. Funding is only sent if a project’s functionality can be demonstrated, and will be withheld otherwise.

Many open source problem solving networks utilize communities, members of which resolve issues by providing the best answer, bug fix, or solution to tickets submitted by other users. FundRequest’s plugin will allow users to fund open requests on networks like Github with a fund button. After setting up a Github request ticket, users can use the FundRequest interface to fund them which generates a unique smart contract to manage the payment of funds. Ticket requesting is all managed on the independent networks, whereas the claiming of rewards by contributors is managed solely through the smart contracts generated by the FundRequest platform. After a claim is proven valid all the transactions are processed transparently on the Ethereum Blockchain with a small amount being deducted in exchange for reputation and zero fees going to FundRequest.

Roadmap

FundRequest launched an alpha module of its platform back in September 2017, where users were invited to give feedback to developers to implement improvements and fix bugs. Ahead, FundRequest plans to release version 1.0 of its platform to the Ethereum Testnet in November of 2017 with features including login with Civic, Azrael communication layer between the Blockchain and the backend, and more.  Future plans include Github platform integration, a browser-plugin enabled funding option for Github Requests and funded issue resolution, and the ability to claim a reward on the FundRequest platform.

By 2018 FundRequest envisions platform cooperation with additional repositories like bitbucket, and Gitlab; ticketing platforms such as Jira, Asana, and Basecamp; and Q&A communities including StackExchange and Quora.

In 2019 FundRequest will provide HR services, offering them to LinkedIn, Elance and Toptal, in addition to recruitment agencies like TEKsystems, Harvey Nash, and Huxley Banking and Financial Services.

  • FundRequest launches a Blockchain Incentive Platform for Open Source Projects – November 1, 2017
  • TetzelCoin Launches SIN Token to Tokenize Forgiveness – November 1, 2017
  • STK Global Payments Launches Pre-sale – November 1, 2017
  • Play2Live – Decentralized Streaming Platform for Gamers and eSports Fans Announces Token Sale – November 1, 2017
  • BookMaker.eu Becomes First Online Gaming Industry Site to Accept 60+ Cryptocurrencies – October 30, 2017
  • Ammbr and Verif-y Cut Deal to Bring Self-Sovereign Digital Identity to Emerging Markets – October 29, 2017
  • Telegraf Money ICO – The First Interactive Auction ICO – October 28, 2017
  • Cashaa Partners with Airbitz for Secure and Speedy Global Payments – October 28, 2017
  • Russian Vnesheconombank And UETP Trading Platform Signed An Agreement On Development Of Europe’s First Blockchain Based Project In E-procurement – October 28, 2017
  • Storj Labs Announces STORJ Tokens Now Listed on Poloniex Exchange for Trading – October 28, 2017
  • Healthbase – The Launch Of A New Blockchain Project Promising To Advance Health Research – October 28, 2017
  • Seeds Token Sale Lets You Ask the Blockchain for Help – October 28, 2017
  • Templum Raises $2.7 Million to Launch Platform for Regulatory Compliant ICOs as Securities – October 28, 2017
  • Crypto Derivatives Exchange WandX to Launch Token Sale – October 28, 2017
  • LiveTree Announces Token Sale for Community-Powered Film, TV and Content Network based on Blockchain Technology – October 28, 2017
  • MailTime Hits 5M Downloads, Launches MDT Token to Reward Users for Sharing Data – October 28, 2017
  • Enigma and KyberNetwork Partner To Expand Blockchain & Crypto-Asset Adoption – October 28, 2017
  • PUBLIQ Reveals How Blockchain and AI Can Fix the Issue of Fake News – October 28, 2017
  • Bancor Welcomes Second Smart Token – STORM tokens join network for autonomously convertible cryptocurrencies – October 28, 2017
  • Etherisc Launches Blockchain-powered Flight Delay Insurance For Devcon 3 In Mexico – October 28, 2017
  • Decentralized Bank-as-a-Service Enterprise, BANKEX, Announces Balanc3 as Advisor – October 28, 2017
  • Russian Bank to Offer Cryptocurrency Exchange to Fiat for Russians – October 28, 2017
  • KyberNetwork and WAX Announce Partnership – October 28, 2017
  • TaaS Fund Backs Up Neuromation, The Universal Marketplace Of Neural Network Development – October 27, 2017
  • Singapore Retail Group iFashion Closes MegaX Token Presale – Raises over USD $2M – October 27, 2017
  • Bloq Announces Metronome: World’s First Cross-Blockchain Cryptocurrency – October 24, 2017
  • Charity Meet & Greet with Ronaldo Auctioned for Bitcoin – October 24, 2017
  • Bitcoin Nonprofit BITGIVE Launches GiveTrack Beta at Money2020 – October 24, 2017
  • Blockchain LegalTech startup Agrello partners with online-id verifier Veriff – October 24, 2017
  • Under 1 in 10 Post-ICO Tokens are Actively Used – October 24, 2017
  • Grid Foundation unveils an Enterprise ‘Cloud Operating System’ for All Blockchains – October 23, 2017
  • Cashaa welcomes Central bankers, MIT scientists and Fortune Top 500 Leaders for its CAS token sale – October 23, 2017
  • Sun Exchange Raises $1.6 Million Seed Investment to Catalyze Global Shift to Solar Power – October 22, 2017
  • Brickblock And Nakamo.to Announce Partnership To Fuse Real-world Asset Trading With The Potential Of IOTA’s Tangle Network – October 22, 2017
  • Wirex inks deal with SBI Holdings to establish Asia focussed joint venture – Japanese cryptocurrency payments card expected soon – October 22, 2017
  • CrowdWiz successfully raises over $5 million in its pre sale to bring democracy to investing by cutting out the middleman – October 22, 2017
  • Soma – launches ICO to tackle marketplace fraud and disrupt the $1.7 trillion global second-hand goods industry – October 22, 2017
  • LiveEdu.tv Launches ICO and Announces Presale – October 22, 2017
  • Yetta announces ICO of European Commission funded Blockchain Research and Development – October 22, 2017
  • Pulsar Venture Capital Holds ICO to Raise Money Using Blockchain – October 19, 2017
  • Dash Expands Reach In Asia Through Cooperation With Rising Fintech Company QUOINE – October 19, 2017
  • Hacken and Neuromation Partnership Launched to Stomp out Blockchain Cybercrime – October 19, 2017
  • Playkey Brings in $1 Million in Pre-Sale Campaign and Welcomes Dillon Seo as VR Advisor – October 19, 2017
  • SolarChange Founders Introduce New Blockchain-Based Network for Global, Decentralized Energy Trading – October 19, 2017
  • Kazakhstan’s Lendex.io plans ICO in early 2018 – October 19, 2017
  • Swissborg – The Blockchain Era of Swiss Private Banking – Announced ICO – October 19, 2017
  • Bank4YOU Group’s launches ICO end of October – Investors Call to Action – October 19, 2017
  • Live Pre-sale of Trive: Fights Fake News Using Cryptocurrency and Crowdsourced Research – October 19, 2017
  • A New Ozone Layer? Arcona Plans for Augmented Reality Layer to Cover Earth Surface in new AR project – October 19, 2017
  • Cofound.it Introduces Seed Program for Early Blockchain Startups – October 19, 2017

View All Articles

advertisementBlockchain Expo