What am I even talking about when I say crowdsourcing? Crowdfunding? What does crowdsourcing or crowdfunding even mean? According to Merriam Webster crowdsourcing is define as “the practice of obtaining needed services, ideas, or content by soliciting contributions from large groups of people especially from the online community rather than the traditional employees and suppliers”. What about crowdfunding, well it is define as well by Merriam Webster, as “the practice of soliciting financial contributions from a large number of people especially from the online community”. Let me break that down to simpler terms: crowdsourcing, picture Wikipedia, or the Lay’s “Do Me A Flavor” campaigns; and for crowdfunding, you may have heard of or even utilized Gofundme.com to donate, the most recent go to raise fund for many things.
To continue, when talking about crowdsourcing and crowdfunding, the start is crowdsourcing. Crowdsourcing, refers to the “crowd” to get ideas, solutions, reviews to have a worthy product, factual information, and among other things. An example of crowdsourcing when talking about creating a worthy product, is my personal favorite, the “Do Me A Flavor” campaign by Frito-Lay Inc. The idea behind the whole campaign is that people submit flavors they believe would taste good. That is fundamentally what crowdsourcing is; out of that campaign flavors such as Chicken and Waffles, Biscuits and Gravy, and New York Reuben. A different example of crowdsourcing, and well known is Wikipedia. Wikipedia, is created by the crowd, and can be change by anyone, which can make it most times unreliable. There are millions of articles with information, if you are looking to find out some information of your favorite music artist you could definitely find that on Wikipedia, but probably not to find information for a research paper.
Secondly, crowdfunding is something that is very popular and very commonly used. It can be used to raise money for charities, raise money for a projects, or raise money to make your idea come to life. The wonderful thing about crowdfunding is that you may have idea but the funds to bring that idea into life aren’t there. Crowdfunding gives you the ability to share your idea with the world, and people give money to see that product come to life. This is absolutely amazing because you get to see the amount of people that are interested in your idea/product, it gives you an idea if the product will thrive or not in the market. Another example of crowdfunding seen online is one that is commonly used when raising money after tragic accidents, such as the Orlando Shooting at Pulse Night Club. Almost 8 million dollars were raised to help the victims and the families of the victims on their Gofundme page.
In conclusion, crowdsourcing and crowdfunding has many help capabilities. It’s all about the idea of the crowd coming together to come get a solution, a product, raise charitable funds.