Where the fans make it happen! Goteo.org Crowdfunding the commons. Crowd funding. Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people, typically via the internet. One early-stage equity expert described it as “the practice of raising funds from two or more people over the internet towards a common Service, Project, Product, Investment, Cause, and Experience, or SPPICE.” The crowdfunding model is fueled by three types of actors: the project initiator who proposes the idea and/or project to be funded; individuals or groups who support the idea; and a moderating organization (the "platform") that brings the parties together to launch the idea. In 2013, the crowdfunding industry grew to be over $5.1 billion worldwide. History Types The Crowdfunding Centre's May 2014 report identified the existence of two primary types of crowdfunding: Rewards-based Equity Debt-based
Crowdsourcing. Crowdsourcing, a modern business term coined in 2005, is defined by Merriam-Webster as the process of obtaining needed services, ideas, or content by soliciting contributions from a large group of people, especially an online community, rather than from employees or suppliers. A portmanteau of crowd and outsourcing, its more specific definitions are yet heavily debated. This mode of sourcing is often used to divide work between participants, and has a history of success prior to the digital age—"offline".
By definition, crowdsourcing combines the efforts of numerous self-selected volunteers or part-time workers; each person's contribution combines with those of others to achieve a cumulative result. Definitions "Simply defined, crowdsourcing represents the act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call. What are the commons? The Commons - Main index.
It is not to be confused with common land. The commons is the cultural and natural resources accessible to all members of a society, including natural materials such as air, water, and a habitable earth. These resources are held in common, not owned privately. Definition and modern use The definition from the Digital Library of the Commons is; "the commons is a general term for shared resources in which each stakeholder has an equal interest". The term "commons" derives from the traditional English legal term for common land, which are also known as "commons", and was popularised in the modern sense as a shared resource term by the ecologist Garrett Hardin in an influential 1968 article called The Tragedy of the Commons.
Types of commons Environmental The examples below illustrate types of environmental commons. European land use Main article: Common land Mongolian grasslands