The democratisation of the internet and digitalisation of financial activity have opened the door to new community-based collaborative opportunities, encouraging mutual aid through individual solidarity investment or the pooling of ideas and skills for the benefit of collective projects.
“One for all and all for one”, an old saying that has found new relevance with the rise of participatory funding. In a society where loans are reserved for a creditworthy minority, this new economic model, accessible to anyone, anywhere, at any time, offers an alternative or a complement to the traditional investment system.
With the popularity of crowdfunding platforms, originally launched to support artistic activities, new actors have become interested in alternative funding and the collaborative economy: companies, local authorities, associations, startups, so many profiles searching for aid to promote their projects and reach their objectives. Gift, loan, or equity: giving, lending, and investing have become a social trend where everyone can play their part in building something according to their values.
But, the contribution of the “crowd” is not limited to finance. Crowdsourcing, open innovation - this is a dynamic that is being constructed around the change brought by collective intelligence and it influences multiple sectors.
And what if we brought the “crowd” into our discourse? This article proposes a review of the economic and social dynamics provided by crowdfunding and collaborative platforms.