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LEO Token: Funding for Innovative Ideas and Startups?

avatar of @uyobong
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creativevoice
@uyobong
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2 min read

I've met some very smart and intelligent young minds with cool business and innovative ideas but are short of funding. Many get so discouraged and dump their ideas on a platter of cheap giveaway cash, while only a resilient few downscale to start with available funds.

The very sad part of the story is that some who happen to discover some funding options within the country have to face bribe request to get funds for building an idea that was meant to bring development to the nation at large. This is a big challenge faced by startups in Nigeria and other third world countries of the world.

Meanwhile. I salute some very privet efforts of some foundations like Tony Elumelu Foundation. However, being private efforts cannot power much entrepreneurs and this again gives room for corruption in the selection process to streamline just a few of the many amazing submissions.

I hope Blockchain Technology is here with the Solution especially as everyone who requests for funding would have a free hand and open field to compete.

  • Blockchain technology offers transparency in the process of selecting the choice ideas to win sponsorship.

  • Also, blockchain technology would allow for a transparent appraisal of the feedback from sponsored projects as everything is open to the public domain.

It is high time, the LeoFinance community embrace a lofty idea as this which is quite virgin in the blockchain space. While I am aware cryptocurrency Crowdfunding projects, supervision and Project growth has not been well defined and portrayed.

  • How about we raise funds for Startup projects with LEO tokens?
  • How about we started funding unique ideas with LEO with a pact to have them stake a proportion of the funds as their counterpart funding?
  • How about we begin to have LEO and LeoFinance logos in local televisions as proud sponsors of a unique project?
  • How about we see LEO, HIVE beyond incentivising content created on the Hive blockchain to giving more realer and tangible solutions?

This would be a way to help onboard the very many entrepreneurs out there to get funded with LEO. They will stay and invest in LEO too. Just my thoughts though.

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