Crowdfunding and social payments are alternative revenue models for (online) content, projects and initiatives that rely on voluntary support instead of consumerism. Web 2.0 platforms such as kickstarter, slicethepie, kiva, or flattr combine fundraising with transparency, networking support and active participation. Julia Kaltenbeck studies software-engineering and economics at Graz University of Technology (Austria). She recently completed her master’s project* on crowdfunding and social payments in the context of open educational resources (OER).
When asked about the difference of crowdfunding and social payments, Julia Kaltenbeck said:
"Crowdfunding is an alternative revenue model for projects in the planning stage, to finance an activity within a certain time frame and with predefined goals. Social payments are a way to acknowledge existing online content, for instance an interesting blog post, a well-researched article or a thought-provoking comment. The purpose of support also varies: In crowdfunding, supporters want to help implement a new project. In social payments, supporters want to socially acknowledge the content someone else has created".
Founded in 2010, the industry website, Crowdsourcing.org, is a neutral organization dedicated solely
to crowdsourcing and crowdfunding. As one of the most influential and credible authorities in the crowdsourcing space,
Crowdsourcing.org is recognized worldwide for its intellectual capital, crowdsourcing and crowdfunding
practice expertise and unbiased thought leadership.