Randi Zuckerberg aims to disrupt crowdfunding with blockchain technology


LIZ: OKAY. WE ARE WATCHING THE MARKETS RIGHT NOW. THE S&P DOWN JUST TEN. EVERYBODY’S GOT A BUSINESS IDEA EVERYBODY’S GOT A BUSINESS IDEA IN THEM, RIGHT? THANKS TO CROWD FUNDING, MONEY COMES FLOWING IN BUT WHILE IT’S COMES FLOWING IN BUT WHILE IT’S A BOON FOR STARTUPS, IT’S BECOMING INCREASINGLY DIFFICULT BECOMING INCREASINGLY DIFFICULT TO TRACK AND TRACE SOMETIMES MISUSED MONEY. CLASSIC EXAMPLE, MAKING A LOT OF CLASSIC EXAMPLE, MAKING A LOT OF NEWS ON THE EAST COAST, A NEW JERSEY COUPLE IN A HARSH SPOTLIGHT AFTER STARTING A GO FUND ME CAMPAIGN FOR A GOOD SAMARITAN HOMELESS VETERAN WHO GAVE THEM MONEY FOR GAS WHEN THEY WERE STRANDED WITHOUT THEIR THEY WERE STRANDED WITHOUT THEIR WALLETS IN PHILADELPHIA. THEY RAISED $400,000 BUT ARE NOW THEY RAISED $400,000 BUT ARE NOW BEING SUED FOR MISMANAGING MUCH BEING SUED FOR MISMANAGING MUCH OF THE DONATED CASH. WHILE GO FUND ME NOW SAYS THEY WILL FIND A WAY TO GET THE HOMELESS VET ALL OF THE MONEY THAT’S MISSING, THIS COULD PUT A THAT’S MISSING, THIS COULD PUT A CHILL ON CROWD FUNDING FOR BOTH CHARITIES AND STARTUPS. ENTER PLEDGE CAMP, A NEXT GENERATION CROWD FUNDING PLATFORM BUILT ON BLOCK CHAIN TECHNOLOGY THAT PROMISES TO SOLVE ISSUES OF TRUST AND CROWD SOLVE ISSUES OF TRUST AND CROWD FUNDING MISMANAGEMENT. HERE IN A FOX BUSINESS EXCLUSIVE, WE WELCOME ITS FOUNDER AND PRESIDENT, EDDIE LEE FOUNDER AND PRESIDENT, EDDIE LEE ALONG WITH PLEDGE CAMP ADVISER, ALONG WITH PLEDGE CAMP ADVISER, RANDY ZUCKERBERG. WELCOME TO YOU BOTH. EDDIE, I WANT TO START WITH YOU. EDDIE, I WANT TO START WITH YOU. BOY, THAT REALLY SMACKED DOWN TRUST, THAT STORY. THERE ARE A COUPLE OF THEM OUT THERE, WHETHER IT’S CROWD FUNDING, KICK STARTER, LIKE WHAT FUNDING, KICK STARTER, LIKE WHAT HAPPENED TO MY MONEY. HOW ARE YOU GUYS DIFFERENT AT PLEDGE CAMP? WHAT DO YOU DO THAT’S DIFFERENT? WHAT DO YOU DO THAT’S DIFFERENT?>>SO WE CONSIDER PLEDGE CAMP THE NEXT GENERATION OF CROWD FUNDING PLATFORM. WE HAD CROWD FUNDING 1.0, IT’S BEEN REALLY AN AMAZING VEHICLE, BEEN REALLY AN AMAZING VEHICLE, PEOPLE CAN FUND THEIR BUSINESSES PEOPLE CAN FUND THEIR BUSINESSES AND PRODUCTS. LIKE YOU MENTIONED, THERE’S AN ACCOUNTABILITY PROBLEM. IT’S JUST NOT BUILT INTO THE MODEL. STUDIES HAVE SHOWN THAT UP TO 85% OF CAMPAIGNS, 85% WILL DELAY 85% OF CAMPAIGNS, 85% WILL DELAY OR NOT DELIVER ANYTHING AT ALL. SO WHAT WE DO IS WE TAKE THE BEST ASPECTS OF BLOCK CHAIN AND BEST ASPECTS OF BLOCK CHAIN AND TAKE THAT TO CROWD FUNDING AND CROWD FUNDING 2.0. LIZ: FOR PEOPLE THAT NEVER HEARD LIZ: FOR PEOPLE THAT NEVER HEARD OF BLOCK CHAINS, I KNOW IT’S AN OF BLOCK CHAINS, I KNOW IT’S ELECTRONIC DIGITAL LEDGER. ARE YOU SAYING WHEN IT FINALLY COMES TO THE LAUNCH OF THE COMPANY AND THE COMPANY GOES BELLYUP, WHAT IS THE RECOURSE THERE?>>THERE ARE SEVERAL BENEFITS TO>>THERE ARE SEVERAL BENEFITS TO BLOCK CHAIN TECHNOLOGY. AS YOU MENTIONED, IT IS A LEDGER AS YOU MENTIONED, IT IS A LEDGER WHICH ALLOWS YOU TO HAVE MORE TRANSPARENCY AND MORE SECURITY ABOUT WHO YOU ARE SENDING MONEY ABOUT WHO YOU ARE SENDING MONEY TO, YOU CAN KNOW MORE ABOUT THEM. LIZ: WHAT THEY ARE USING THE MONEY FOR.>>EXACTLY. YOU CAN SEE WHERE THE MONEY IS GOING. LIZ: WE DON’T WANT IT ON THE LITTLE GAMES, THE GRANOLA BARS FOR WORKERS. YOU WANT TO SEE YOUR MONEY BEING YOU WANT TO SEE YOUR MONEY BEING SPENT, RIGHT?>>RIGHT. EXACTLY. THE OTHER COOL THING BLOCK CHAIN THE OTHER COOL THING BLOCK CHAIN LETS YOU DO IS SOMETHING CALLED LETS YOU DO IS SOMETHING CALLED SMART CONTRACTS. WHAT SMART CONTRACTS ARE, THEY ARE SOFTWARE PROGRAMS THAT ALLOW ARE SOFTWARE PROGRAMS THAT ALLOW TWO PEOPLE ON THE INTERNET TO KNOW FOR SURE WHAT THE TERMS OF KNOW FOR SURE WHAT THE TERMS OF THEIR AGREEMENT ARE TO MAKE SURE THAT THEY WILL BE ENFORCED WITHOUT RELYING ON A TEAM OF LAWYERS OR A THIRD PARTY. THIS ALLOWS PEOPLE TO CREATE TRUST OVER THE INTERNET.>>JUST LIKE YOU WOULDN’T BUY A>>JUST LIKE YOU WOULDN’T BUY A HOUSE BY JUST GIVING ALL THE CASH UP FRONT, YOU HOLD SOME IN CASH UP FRONT, YOU HOLD SOME IN ESCROW SO THAT THE DEVELOPER ACTUALLY BUILDS THE HOUSE FOR YOU, THAT’S WHAT THEY’RE DOING THERE. YOU GET A LITTLE BIT UP FRONT BUT THE MONEY DOESN’T GET RELEASED UNTIL THE CREATOR IS ACTUALLY MAKING PROGRESS ON THE ACTUALLY MAKING PROGRESS ON THE PROJECT. SO YOU HAVE TRUST. LIZ: OKAY. I LOOK AT YOU, YOU ARE AN AUTHOR, YOU ARE A MOTHER, YOU ARE MARK ZUCKERBERG’S SISTER. YOU CREATED FACEBOOK LIVE ON THE YOU CREATED FACEBOOK LIVE ON THE FACEBOOK PLATFORM. YOU COULD PICK ANY COMPANY TO BE YOU COULD PICK ANY COMPANY TO BE AN ADVISER. WHY THIS ONE?>>GOSH, THERE ARE SO MANY REASONS. FIRST OF ALL, I HAVE BACKED EDDIE AND JAY BEFORE IN OTHER INITIATIVES. THEY ARE JUST INCREDIBLE ENTREPRENEURS BUT ALSO FOR ME, I ENTREPRENEURS BUT ALSO FOR ME, I HAVE BEEN VERY INTERESTED IN THE HAVE BEEN VERY INTERESTED IN THE CRYPTO AND BLOCK CHAIN SPACE FOR CRYPTO AND BLOCK CHAIN SPACE FOR AWHILE. I THINK IT’S A SPACE THAT MORE WOMEN NEED TO GET INVOLVED IN, QUITE FRANKLY. BUT I DIDN’T WANT TO GET CAUGHT BUT I DIDN’T WANT TO GET CAUGHT UP IN THE HYPE. THERE’S BEEN A LOT OF HYPE IN THIS SPACE. FOR ME, I’M INTERESTED IN PRACTICAL APPLICATIONS OF BLOCK PRACTICAL APPLICATIONS OF BLOCK CHAIN IN OUR LIVES. LIZ: THIS IS ONE OF THEM.>>THIS IS ONE OF THEM. MY PASSIONS IN LIFE ARE SUPPORTING THE ARTS AND GIVING MORE WOMEN AND UNDERREPRESENTED MORE WOMEN AND UNDERREPRESENTED ENTREPRENEURS A CHANCE TO HAVE THEIR PROJECTS BACKED. WITH SOMETHING LIKE THIS, WITH PLEDGE CAMP, IT DOESN’T MATTER WHERE YOU LIVE, WHAT ACCESS TO FINANCING YOU HAVE, IF YOU CAN’T FINANCING YOU HAVE, IF YOU CAN’T GET A VC TO WRITE YOU A CHECK, SUDDENLY YOU HAVE A PLATFORM. LIZ: IT’S KIND OF IRONIC, YOU RAISED A LOT OF MONEY FOR WHAT COULD BE A KICKSTARTER, RIGHT? FOR WHAT COULD BE A KILLER OF THAT, AND YOU DID IT THROUGH KICKSTARTER.>>YEAH. I MEAN, WE HAVE DONE KICKSTARTER I MEAN, WE HAVE DONE KICKSTARTER IN THE PAST. WE HAVE RAISED OVER $2 MILLION IN OUR EXPERIENCE WITH CROWD FUNDING AND THAT’S REALLY SHOWN FUNDING AND THAT’S REALLY SHOWN US FIRSTHAND OBVIOUSLY THE BENEFITS BUT ALSO THE PROBLEMS. THESE PAINS WE ARE FEELING, THAT’S WHAT WE ARE TRYING TO SOLVE NOW FOR OTHER PEOPLE. LIZ: CAN I JUST SAY, WHEN YOU GIVE MONEY TO A STARTUP, IT’S A GIVE MONEY TO A STARTUP, IT’S A RISK. VENTURE CAPITALISTS KNOW THIS ALL TOO WELL. ARE YOU BEING A LITTLE UNREALISTIC, PLEDGECAMP FOR THE UNINITIATED SAYING I BELIEVE IN UNINITIATED SAYING I BELIEVE IN THIS CRAZY PROJECT, THEN IT GOES THIS CRAZY PROJECT, THEN IT GOES UNDER?>>WHEN YOU OPENED UP THIS SEGMENT YOU LED WITH EXACTLY WHAT HAPPENS. THERE ARE SO MANY AMAZING PROJECTS OUT THERE, BUT YOU GIVE PROJECTS OUT THERE, BUT YOU GIVE MONEY TO THE WRONG ONE, WHERE SOMEONE MISUSES IT AND SUDDENLY, SOMEONE MISUSES IT AND SUDDENLY, YOU NEVER WANT TO SUPPORT A PROJECT EVER AGAIN. YOU SOUR ON THE ENTIRE SYSTEM. THAT’S WHAT I REALLY LOVE ABOUT THAT’S WHAT I REALLY LOVE ABOUT PLEDGECAMP IS THE MONEY DOESN’T PLEDGECAMP IS THE MONEY DOESN’T GET RELEASED WITH THESE SMART CONTRACTS, YOU FEEL TRUST AND IT CONTRACTS, YOU FEEL TRUST AND IT PROTECTS THE CREATOR AND THE BACKER. LIZ: HERE IN A FOX BUSINESS EXCLUSIVE, RANDI ZUCKERBERG AND EXCLUSIVE, RANDI ZUCKERBERG AND EDDIE LEE. PLEDGECAMP IS UP AND RUNNING?>>NOT UP AND RUNNING. LIZ: WHEN? I NEED THE WHETHER.>>IT WILL BE UP AND RUNNING SUMMER 2019. WE PARTNERED WITH AN AMAZING DESIGN AGENCY THAT MADE SOME PROJECTS LIKE COIN BASE AND THEY PROJECTS LIKE COIN BASE AND THEY WILL HELP US BUILD AND LAUNCH NEXT YEAR. LIZ: HOW CAN PEOPLE READ THE WHITE PAPER?>>PLEDGECAMP.COM. DOWNLOAD IT THERE. LIZ: VERY COOL.

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22 thoughts on “Randi Zuckerberg aims to disrupt crowdfunding with blockchain technology

  1. Oh yeah we don't have to play Blind Man's Bluff with go fund me anymore now we get with perfume! How come I can see a magic wand in your hand?..

  2. Trying to really sell that mark of the beast!!! Y’all can keep that satanic crap!!! As for me and my house we will serve the Lord.

  3. Yeah look at how they’re trying to sell it to the masses!!! How is this so much safer when anyone can hack into your electronics at any given time and steal your info? Not buying it

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