Somehow, I always go back to how technology has helped us but has created a concern as well. When we talk of the benefits of technology, the digital system of doing things is one of those. But hardly do we talk about how it has helped in this matter of sourcing funds, through crowdfunding. Obviously, it's not a new thing brought about by technology. However, technology through the digital system has made it easier, faster, and with a wider reach.
Funds used to be, and still are, sourced physically. People usually type or write something explaining their need on a piece of paper, move around, share it, and distribute it through others also to request financial assistance. Something still done today. With the digital system, one can set up a GoFundMe in a couple of minutes, put the necessary details, publish it and it's up, out there online for whoever might come across it to support the cause.
Having it online reaches a large audience, which means getting more support, faster and easier. Sharing the post online or with someone directly, and from that person or people to another or others, makes for greater efficiency and results, as many get drawn to the mostly empathetic cause involved. But here's the concern and problem, how can one be sure that some of these financial requests are really for the causes, and not just to defraud people?
Looking at the world, it's easy to deceive and defraud people online. This is something that happened in a similar fashion here on the blockchain. Of course, people have been and can be defrauded this way even if it's not online, through crowdfunding systems. Those who source for funds physically as explained can and have done that, which remains a wholesome worry about the matter of sourcing funds and financial donations.
So, whether online or physically, it remains a concern if funds are really going to the causes indicated and if they'll be like that with subsequent ones that will keep coming up. We can't deny however, that this is a major concern with online funds sourcing. The advantages it provides turn out to be the very systems used to the advantage of the ones who might be defrauding people drawn to donate towards that cause which must have touched them.
It's understandable for people to be concerned, with some even refraining from committing towards such donations, especially when they must have been defrauded this way in the past. And as with many systems meant for good, people have abused this, leaving those who would really need this help to receive limited or little help. Noticeably, the crowdfunding efforts that seem to receive good support are the ones that gain some popularity because of the people involved or a popular event surrounding them.
How then can those who don't have this popularity receive the support they need? How can their plea for financial assistance be recognised as valid? This falls back to the platforms that provide this service. Transparency should be key; well-detailed information with continuous updates about the cause and the state of things should be provided, without crossing privacy boundaries though. This, beyond just the update of donations received should help.
Image is AI generated.