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American crowdfunding firm Crowdtilt launches Bitcoin-supported open source crowdfunding solution

February 21
3:44 PM 2014

Today, crowdfunding firm Crowdtilt launched an open source crowdfunding solution called CrowdtiltOpen with Bitcoin support. This will allow anyone to launch crowdfunding campaigns on their own websites, according to VentureBeat.

Including the Bitcoin currency support for payments, the company features has other features such as analytics integration, recurring billing, and other customizations. Because it is open source, people can build desired features that are not yet available on top of the said platform. Premium services are also in the works. However, the main version of CrowdtiltOpen will remain free, the report detailed.

Chief Executive Officer (CEO) James Beshara explained to VentureBeat: "Crowdtilt exists because of the open source tools that we've been able to make use of, so this is our way to give back to the open source community. It will produce wildly more interesting results by giving it away for free than if we tried to monetize this thing."

Because of its Bitcoin support, CrowdtiltOpen could potentially make way for a simpler global crowdfunding process. Right now, Beshara said there are over 4,000 entities that are set to use the open source platform, the report said.

CrowdtiltOpen is currently based in San Francisco, California. The platform obtained $23 million in a December funding round and has a total raised capital amounting to $37 million. The company presently employs 34 workers, VentureBeat reported.

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