Crowdsourcing refers to the act of raising contribution varies from ideas, services to investment from the online community. Potentially, crowdsourcing is expected to transform any kind of business to a new stage that is cheaper, faster and more efficient. The article above mentions the possibility of creating a new economy with the utilization of crowdsourcing platform. The major challenges include the industrial mindset and the infrastructure for the economic transaction
Recently, Bitcoin has become known as the online currency for peer-to-peer payment. The proposition of Bitcoin help addressing both obstacles since it serves as a kind of reward for organizations and individuals’ contribution to the platform. Moreover, Bitcoin is an ideal digital and decentralized currency for this new type of economy for the value can be transferred directly from one person to another. Some of the most dispute issues about Bitcoin and Crowdsourcing together as a new economy include:
– According to federal law, banking sector and any other related activities are subjected to be regulated by both state and federal statutes. However, the Federal Reserve simply does not have authority to supervise or regulate Bitcoin in anyway. In other words, there are no third-party seizure, no taxes, no tracking and transaction costs.
– Economists identify the elements of economics include people, government, different sectors and market. In case of Crowdsourcing and Bitcoin, the lack of government regulation can be either advantageous or disadvantageous.
– What is the capability of the new economic platform? Does it help a generation of young people to build their own marketplace instead of playing economic catch-up their whole lives?
A new breed of companies is leveraging the power of networks and sharing:
Mosaic connects investors to solar projects in need of financing. The projects generate revenue by selling the electricity they generate, which allows the investors to get paid back with interest. Through the company, you can pick a solar project that you like, make an investment for as little as $25 and get returns starting at 4.5% annually. Of course, as with nearly any investment that isn’t federally insured, there’s a risk involved.