Crowdfunding platforms are often looked at with suspicion, and if it is done on an online platform, the suspicion level increases. Due to this, the online crowdfunding app AMPnet has collaborated with UTU technologies to increase the level of trust on their online fundraising platform. For any fundraising project, there always exist two parties, the investor and the fundraising entity, and there should be mutual trust between these two entities to make the fundraising project an ultimate success.
The investors should have faith in the fundraising entity that it will use the funds raised in the way intended to. On the other hand, the fundraising entity should also have enough reason to trust the investors like, the investors having past records of helping other companies that they have invested in earlier, or that the investors had not acquired those funds from any criminal activities that they want to invest in the project to deem it as white money.
AMPnet is such an online Android and iOS compatible crowdfunding app that offers a tokenized and integrated platform, wherein entities can arrange for crowdfunding or crowdlending. But trusting such an online platform just by looking at the reviews is not always feasible, as contrary to a physical platform where it is much easier to establish trust. Here comes the boon of UTU technologies that have built a Trust Engine Infrastructure to optimize and digitize trust.
AMPnet is all set to cash this benefit brought in by the UTU technologies. Therefore, it has collaborated with UTU technologies to increase the trust quotient of their online crowdfunding platform. UTU Technologies is one of the few AI (artificial intelligence) driven startups in Kenya that uses AI to model trust. UTU’s AI-based algorithms will incorporate past records like previous investments, social data, or KYC elements to build trust scores for investors. Records of the companies’ past performance will also be taken into consideration to develop trust scores for fundraising entities.
The online Crowdfunding platform AMPnet provides entities will all the tools required to organize a crowdfunding campaign via the AMPnet online application. All AMPnet app activities are stored on the Aeternity blockchain so that no data can be manipulated and are safe. Even then, some investors do not feel it right to invest in an online app like AMPnet. This is now solved by partnering with UTU technologies, and from now on, AMPnet will be using the Trust Infrastructure as a Service (TIaaS) of UTU technologies to develop trust scores for both the investors and the fundraising entities on their platform.
