The post Kevin Owocki Expands Web3 With Allo.Capital Launch appeared on BitcoinEthereumNews.com.

Kevin Owocki founded Gitcoin to fund open-source blockchain projects, distributing over $66 million to developers and supporting Ethereum’s ecosystem. Owocki launched Allo.Capital in 2025 to expand decentralized funding, empowering innovators through research, software development, and venture capital. Almost every developer has wondered, “How can I continue to develop open-source software while also paying my bills?” That was the dilemma Kevin Owocki, a software programmer who finally founded Gitcoin, battled. Owocki knew the conundrum all too well, having studied computer science at the University of Delaware and more than 15 years of experience in the tech business. Open-source is only a pastime for some. Others find it a calling that cannot always be financially sustained. Still, he noticed a gap. Blockchain was creating new possibilities in the digital economy, and Owocki thought the financial structure could be altered. Could the same be true for open-source software if people could give to projects they felt worthy? Gitcoin: From Experiment to Web3 Funding Powerhouse Owocki started Gitcoin in 2017, having a major concept in mind. The platform was meant to close the distance between open-source projects and developers so they might get community donations. Originally a little experiment, Gitcoin developed into a financing center for thousands of projects in the Ethereum and Web3 ecosystems. More fascinatingly, Gitcoin’s idea is about creating a fairer incentive system as much as about money giving and receiving. Funds are distributed under a quadratic funding method depending on individual donations rather than only the total raised. This guarantees that projects with numerous modest sponsors can still obtain the money they are due. So the outcome is More than US$66 million has been allocated thus far to around 5,000 open-source projects. a success above the expectations of many, including Owocki personally. GreenPill Podcast: Blockchain for Social Good Gitcoin, on…

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Filed under: News - @ February 27, 2025 2:27 am