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 is a specific sourcing model in which individuals or organizations use contributions from Internet users to obtain needed services or ideas.
Definitions The term "crowdsourcing" was coined in 2005 by Jeff Howe and Mark Robinson, editors at Wired, to describe how businesses were using the Internet to "outsource work to the crowd", which quickly led to the portmanteau "crowdsourcing. " Howe first published a definition for the term crowdsourcing in a companion blog post to his June 2006 Wired article, "The Rise of Crowdsourcing", which came out in print just days later: "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. This can take the form of peer-production (when the job is performed collaboratively), but is also often undertaken by sole individuals.
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