New Media 
No Comments Social finance and crowdfunding
In 2005 social finance arises from the web 2.0-era. Participatory web projects offer a broad spectrum of opportunities. Banking 2.0 is “a way for people to lend and borrow directly with each other online[…]”. You can own a small piece of a footballclub at myfootballclub.co.uk. “You are invited to join members from over 80 countries who own Ebbsfleet United and vote on all key decisions from team selection to financial budgets. Membership costs £35 annually.”. Obama raised an enormous amount of money online and at Sellaband.com you can invest in a band.
For me, the most interesting form of crowdfunding is the microloan-service of Kiva.org. The website of Kiva.org is filled with entrepreneurs from all around the globe (especially the poorest country’s) in need of a small amount of money to start a business. For instance I can loan 25 dollars to a fishing group in Uganda. Together with another 55 other loaners there is 4000 dollars raised, which is enough to buy nets, boats and rods. The fisherman’s will pay our loan back in 5 terms. The last term ends at 1 March 2010. In March I can decide to re-lend or withdraw the funds. Read more »
