Many know open source. Some heard about crowdfunding. Few has used crowdfunding. Both concepts - utilizing the crowd and community have shown effective and successful result to solve problems in the world. Lately I read some blog posts and comments comparing crowdfunding to open source. Here I want to briefly share my thoughts:
Both crowdfunding and open source have helped thousands of people, which cannot be achieved alone without the support of the community / crowd. The open source approach works great, as it is utilizing the mass community's effort to benefit potentially everyone in this world, through sharing, collaboration and openness.
Crowdfunding, on the other hand, has proven to be an alternative financing model, for creative ideas on new products/services, charity, community projects, etc, which traditional financing through banks or government public funding would not cover. Even though the beneficiary would be only the fund raiser or the person who will receive the fund in the end. People, donating the money, generally feel happy because they helped others to solve a life challenge or realize their dreams. For example: unsigned musicians raise fund to create their first album with the support of their fans and music lovers. There are also crowdfunding projects, where everyone donates will benefit from it, e.g. a small community of residents raise fund to build a swimming pool for their children.
Crowdfunding has definitely helped people to solve challenges in life and to become happier. Running a crowdfunding project might be more commercial in operation than running an open source project. I believe, like open source is a real alternative to proprietary software, crowdfunding will continue to prove to be an effective alternative financing model and co-exists with banks and government funding.
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