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Bitloot has come up with a very simple and potentially useful concept that allows users to submit their idea for an application to Bitloot’s listings. If someone else sees that idea as a viable one, he may decide to to contribute to it. Once the idea has a significant funding, the company selects a developer to execute and develop the software.

It can also work the other way round, as developers who want to spend their time working on a great idea, could list the idea and enlist them as a developer willing to carry it out.