Will crowdfunding change the world? How?

20 Nov 2014
| Last update: 29 Sep 2015

On Crowdfunding and New Horizons

crowdfunding

Often times when I’m at the beach, I like staring far into the horizon, where the sea’s border, as straight as a blue line, passes into that of the clear sky. Our fast-forward driven world can be compared to this image. You can stretch what has already happened up to the sea’s limit. From then on you get into the future. Which is not always clear or cloudless. Like the sky. Many time, however, it’s brightened up by the rays of the sun.

The sun of our future seems to be crowdfunding. It opens to us new bright horizons. Why do I say this? It sheds light on a new and unexplored means of funding startups, raising money for education and culture, for improving the healthcare system, for personal problems, it has the potential to dissolve poverty, and so on.

What it accomplishes in the end is building bridges between people, communities, activities and interests.

Is crowdfunding a replacement?

I think people should get over the idea that breakthroughs and discoveries in technology, in the market industry, etc. are made to replace still good-functioning past ways of dealing with something. In a previous post I asked myself a simple question: Is crowdfunding replacing fundraising?. Crowd-funding, fundraising, charity could all merge for the benefit of people. The fact is “Crowd-funding initially started for philanthropic projects (in the form of donations) and then spread to consumer products (in the form of pre-funding orders) and lending.”(Read more…)

The Kickstarter Economy

James Fields shows in his post for The Tennessean that crowdfunding  has become a powerful tool. This happens because in our digital era you can now raise money with just an idea, but you no longer need to put together a business proposal, beg a wealthy relative to lend you money, or your family to invest, or just knock from door to door to tell people about your campaign.

This was before Internet and crowd-funding. But it has changed and now individuals have a resource for soliciting financial backing.

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As James shows, though crowdfunding appeared in 2003, it was actually with Kickstarter and IndieGoGo that it reached to people. Now, on Kickstarter “to date 6.9 million people have pledged $1 billion to fund 68,000 creative projects. To put that into perspective, that’s about the same amount of people who’ve enrolled in health care plans under the Affordable Care Act, or the number of people killed worldwide by air pollution annually.”

The impacts of crowdfunding on our world

Crowd-funding has a direct impact on the social and economic landscape. In 2013, The Atlantic dubbed this new form of business lending: “The Kickstarter Economy”. It also has direct influence on education (Read about what I call the “knowleadgeable crowdfunding” here), art (Read more…), health-care and all kinds of personal activities and hobbies that can be turned into successful campaigns.

Everyone can have resource to the money they need for different reasons. Even so, it doesn’t stop here, because crowd-funding also makes people connect and engage, so that in future years we could see more collaboration and unity between people.

Do you also think that crowdfunding has a tremendous impact on our lives?

Ligia Mangra
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Ligia Mangra

Content Writer at Squirrly
A passionate writer. I love seeing a full moon and I like to rock 'n roll in life. Can't wait till my first novel gets published. Thumbs up, it'll be a fantasy horror!
Ligia Mangra
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