In addition, due to new innovation and lack of scientific support, crowdfunding practices start to get more scientific attention from academician and the respected journals, international conference, and academic papers will help to measure the overall crowdfunding practices. The projects that funded via crowdfunding will show either it works or not and the market performance from crowdfunding platforms will find out the proper business models. Due to lack of scientific support, Hemer et al (2011) create a detail crowdfunding platform flow in order to create a better understanding of crowdfunding platform. Crowdfunding has worked as a “network orchestrators” where the formation of crowdfunding has been created as organizational systems and a place for integrating of demand and supply players (Ordanini et al., 2010). The crowdfunding has acted as relational mediators where intermediate between demands (inventor, new artists, designers, project initiators) and supply (committed supporters, backers, donors); the relational mediators have replaced traditional intermediaries such as traditional record company and venture capitalists. Crowdfunding platforms have conceptually linked the demands and supply where the committed supporters have believed to the demanders and provide monetary support to do projects (Freund, 2010). Sometimes crowdfunding platforms will have to face fraud cases, server failures and public disappointments. Due to less regulation of the crowdfunding practices and less attention from government and academician, will enables the all range of experimentation that might provide undesirable developments such as weapon development and pornography (Giuduci, 2013). If crowdfunding platform established with serious financ... ... middle of paper ... ...in many ways to maximize the success factors (Isenberg, 2012). Crowdfunding platforms should list an advice or frequently asked question (FAQ) on how to create project pitches, create images and videos and how to choose donation categories. They also need to put algorithms search that can automatically analyze pitches in terms of word count, sentiment and readability to attract more crowd. Crowdfunding platform continuously growth and attract the investors and cut the intermediaries by eliminating service providers’ activities previously involved in the network. The platforms have used crowdfunding to find stakes from private investors who own high capital and match them with people who own the ideas. Crowdfunding become threat to bank and conventional loan system, due to creative individual and small medium industry (SMI) prefer take their chance to this platform.
The world is becoming increasingly more accessible due to the internet; specifically for monetary transactions such as shopping and banking. In 2009, a group of people under the name “Satoshi Nakamoto” created the Bitcoin, a form of digital currency that can be used to conduct transactions on the internet. In the past six months, there has been a sudden spur of popularity for the Bitcoin, which increased the coin’s net worth, as well as stock prices for investors. Its stocks started accumulating investors in September 2013, at roughly $130 a share. Now in 2014, a share of the Bitcoin, sits at approximately $600. On a purely economic level, the Bitcoin may appear to be a promising investment of both money and hope for the economy in the future as technological advancements make improvements in our day-to-day lives. However, the very thing that is attracting investors is also sending red flares to government officials – uncertainty. A virtual currency is innovative and a very new concept to the society which we have today that is caught in a limbo between holding onto the old and transitioning into the new. The Bitcoin generates an interesting outlook on global politics and economy in the 21st Century. The virtual currency analyzes the threat of a foreign currency within a state, the possibility of a potential global currency and the technological economy of the future.
... Crowdfunding is based on quality and innovation, not on profit. A project needs to catch enough interest in order to be realized. This forces innovative architectural concepts. Conclusion The new mechanism = the crowd instead of the old centralized organizations plus the new driver = the quality instead of profit eventually leads to a new highly participatory society redefining our own relationship to the environment.
As technology continues to develop at a rapid pace, many aspects of our lives are being transferred to the digital world. The internet has changed the lives of many, giving them a new way to communicate, learn, shop, and more recently, make online transactions without physical cash, checks or credit cards. In 2009, the world of digital currency was altered forever when Satoshi Nakamoto introduced bitcoin, a crypto-currency. It has shown an immense growth in popularity within just six years, offering consumers less fees, more safety, and no physical currency to keep track of.
payment. PayPal is also available to people in 38 countries. This paper starts with introduction to the company and its services. The
A Ponzi scheme is an investment fraud that involves the payment of returns to previous investors from funds paid by new investors.With little or no legal earnings, Ponzi schemes require a consistent flow of money from new investors to operate. Ponzi schemes tend to collapse when the operator is unable to recruit new investors ,when a large number of investors ask to cash out or if the operator disappears.These types of financial fraud have had a tremendous affect on the accounting profession, in the form of forensic accounting.
The case study is about an interview, conducted to four venture capitalists from four of the most prominent VC Silicon Valley firms, Kleiner Perkins Caufield & Byers (KPCB), Menlo Ventures, Trinity Ventures and Alta Partners. These firms invest both in seed as well as in later-stage companies, which operate mostly in the information technology sector. However, each VC has developed different sector portfolio depending on the expertise of the venture capitalists, the partner network and other factors. Professor Mike Roberts and Lauren Barley a senior research associate, both from Harvard Business School, have made a series of seven questions to their interviewees to understand how they evaluate potential venture opportunities and what they look at in order to decide if they will fund them and in which way. The questions were dealing with how VC’s evaluate potential venture opportunities, how they conduct due diligence, what process id followed for the decision making, what financial analyses is performed, the role of risk in the evaluation and how they think of potential exit routes. These questions were asked individually and revealed several similarities as well as differences in the strategy and the criteria that are used for the evaluation.
For many, the dot com collapse in the mid nineteen nineties seemed like the end of corporates’ place on the internet. Very few people trusted these new online companies, which led to many promising websites disappearance, but a few Silicon Valley projects that were able to survive greatly shaped the new wave of e-commerce. Following in the footsteps of success stories such as Amazon.com, many companies have reshaped the way they conduct online business and are fighting to stay in front of new technological advancements during this decade of rapid technological change. The history of Amazon’s success, transformation, and creation is a good reference point to a developing problem world-wide, the displacement of jobs due to the internet and other
The documentary Banking on Bitcoin from director Chris Cannucciari was a documentary released in 2016. Throughout this documentary Cannucciari asserts that the cryptocurrency Bitcoin is the future. Using Bitcoin experts and enthusiasts, this documentary is working to persuade people that Bitcoins peer to peer non-centralized system is the future and should be used over traditional banking methods. The targeted audience for this documentary is businesses, government officials, and anyone interested in the Bitcoin technology. The tone of this documentary is ardent while also informative.
Internet is a free platform where everyone can launch or release whatever they want to that market. With such characteristic of the Internet, the products, services or creations may, in a se...
Microcredit can be defined as small loans, or microloans, for people around the world in extreme poverty to help spur entrepreneurship. The issue of microcredit is extremely important in the world’s economy. Poverty alleviation and economic development are the primary goals of microcredit programs, that is why they began in the developing countries of Asia and Latin America, economist Muhammad Yunus and his Grameen Bank in Bangladesh are credited of pioneering this financial innovation (Smith, Thurman, 2007). After acquiring a loan, impoverished people get involved in self-employment projects that help them to start a business and begin generating income and in many cases leave poverty. Microcredit offers loans to poor people without requesting any financial history from them. These loans help to improve the quality of life of individuals and communities through commitment. In recent years, the idea of giving small loans to poor people became the darling of the development world, giving a way to propel even the poorest people into better lives (Jolis, 2011).
Crowdfunding is a way for bringing capital up in little sums from an expansive gathering of individuals utilizing the Internet and online networking. Unlike funds from venture capitalists or angel stakeholders, the capital raised through crowdfunding does not really purchase the lender a share, and there is no assurance that it will be reimbursed if the project is fruitful. Instead, people are requested to make micro investments or contributions to causes and projects they believe in, thus allowing the work to be finished.
A cashless society will further improve the globalisation that characterise our present time. The computerised systems can be used to decrease the quantity of paper trail therefore substituting paper cash with cashless credits or electronic money transfers. However, in a cashless economy, this will change with certain crimes almost eradicated. It will also be faster to generate electronic payments than cash as Near Field Communications (NFC) chips make their way into more payments cards and mobile handsets as well providing protection not applicable to purchases made using cash. This technology is simple with low power wireless link evolved from radio-frequency identification (RFID) tech that can transfer small amounts of data between two devices identifying us and our bank account to a computer. Another benefit of drawing nearer to a cashless society is that other companies are providing pioneering cash-free solutions to the payment related problems we come across. For example, WisePay, a provider of e-payments services, is deploying technologies that ensure parents no longer have to worry about sending their children to school with cash to pay for meals, excursions and other fees that will eliminate the likelihood of being caught short for cash or children misplacing money. The Government also has valuable explanations why they may deem to turn away from cash. Due the main factor of printing and distributing cash, not to mention ensuring the economy is free from forgeries which are all costly endeavours estimating that the cost to society of using cash is between 0.5 and 1.5% of GDP annually. In addition, there are many technological innovations that propose there is a real enthusiasm for an alternative to cash with the upsurge...
There is a little too much greed going on in society. My definition of greed is when a limitless person selfishly wants something and the obsessive addictions is that enough is never enough. The dictionaries definition is ‘an inordinate or insatiable longing, especially for wealth, status, and power.’ People do not realize that greed concentrated too much on earthly thoughts. People think the need of wanting something is just a thought, however if you continue to think about it, eventually the person will find a way to allow greed to take over the thoughts. Greed can make a man, but it can also destroy him ten times over. It is one thing to want money or materialistic ideals, but the necessity almost unavoidably becomes greed. Greed is something
The different qualities and personalities each individual on earth expresses represents how diverse the planet is which is an indication of how creatures have evolved overtime. Amongst these individuals there are mean-spirited folks or nice-spirited folks, there may even be people who are both depending on the day. When describing The nice-spirited persons the qualities often implicate the term generous. What is generosity? Why are people generous? The further we comprehend this word, the better we are able to judge on it, and answer the proposed questions.
An important term that is cropping up everywhere nowadays is “Microfinance”. It is important for every person interested in the field of finance to be aware of this term, as in the coming days Microfinance is expected to be one of the brightest and the most appealing sector of the Indian Economy.