Why Crowd Funding Changing The World Economy

Have you heard about Crowd Funding?It’s basically what it sounds like, a crowd funding something or somebody.It became an Internet phenomenon some years ago.Yes, Crowd Funding has changed the world economy, and let me tell you why.In the old days you had to get financing from your local bank or a relative or a friend that was close to you. Basically if you did not know them you will never see any money coming into your bank account for any idea you might have.

Crowd Funding on the other side, allows anybody with the powers of the Internet, to put up a project online and get it financed by people they do not know.People who like the idea or the person behind the project will simply donate money to the project-using example Paypal and send over anything from 5 to 50,000 dollars and actually ask for nothing in return but that they wish the project shall succeed.

In Africa this has changed how entrepreneurs are working and given them more access to funds to execute their projects. Example in Kenya a local app called Ushahidi is helping the young motivated founders to build their business locally contributing to a boost of the world economy.M-Pesa, mobile money platform also has assisted Africa to move money faster and contributed in the financial growth we are currently seeing. Most people may not have a bank account but they all have a cellphone that allows them to fund it and pay locally for both goods and services using a tool that is understandable for the community.

But naturally Africa has a long way to go yet as the country still in struggling with their infrastructure and deployment of both electricity and the Internet.But people are working hard and growing.It’s interesting to see how people of Africa has continuous growth facing all the challenges they do and other countries like Greece are just screaming for help and seem to be struggling more, even though they already have a great infrastructure, electricity and 4g internet.

Jarl Moe says is like the old saying goes: If you want something done, ask a busy person… Some Greek guy sitting sipping coffee with his friends complaining on how big a victim he is does not change the World Economy to the better.

Did you know that East Africa has it’s very own Silicon Valley?

Well, it’s not called Silicon Valley but Silicon Savannah and it’s a network of different tech hubs building new technology. So you see… it’s not only the Americans that can develop tech, or the Indian’s for that matter. Creative young Africans are daily sitting and dreaming and developing new ideas to change their own world and the world economy.

Who said you had to be educated to change the World or the Economy?
is it not the creative mind that has taken us to where we are today?

The term education is not so much what you know, but how good you are at getting the information that you need when you need it. Now, with the Internet anybody can be “educated” and find great ideas to fund and solve the World’s Economical Challenges.