Customizing Crowdfunding Approaches to Replace “Biased” Funding

• Main Authors: Ophir Flomenbom, Jelena Mazaj
• Format: Article
• Language: English
• Published: World Scientific Publishing 2017-06-01
• Series: Reports in Advances of Physical Sciences
• Subjects: Crowdfunding; financial stability; economic crisis; fairness; society
• Online Access: http://www.worldscientific.com/doi/pdf/10.1142/S2424942417710013

The purpose of this paper is to deal with crowdfunding approaches’ strength to influence the society, in particular, reforming the funding power structure in the society, to restructure the society wealth distribution, and to increase the flow of opportunities in the nation. The approaches that can do that include local crowdfunding from within businesses, crowd funds’ entities that are combined with unbiased management, and those combined with unbiased bank’s support. Local crowdfunding from within businesses is indeed a unique tool for financial stability at the neighborhood level, yet also in the nation’s level upon generalizations, where these can shift socio-economic-power to the citizens. In generalizing crowd funds’ entities, these are of value to fight biases in case combined with unbiased management; “unbiased crowdfunding” might prove simpler to create and maintain than the alternatives. Some of the example of works that we performed with local businesses are presented in this paper.