WHAT IS CROWDFUNDING?

By Ariston P Awitan, M.D.

Background and Definition of Crowdfunding--Important Comment from our Leader, Mr. Thomas Dluca

"People have always asked one another for money: we ask when a child or relative is sick, impoverished, or otherwise suffering; we ask on behalf of our favorite charities and causes; we may even ask for money to start a business. Commonly, we ask family and friends, co-workers, and other acquaintances; sometimes, we ask those we don't know. As technology has changed, so have the ways we ask for money. Now, through social networking (Facebook, Google+, LinkedIn, etc.), we can easily ask hundreds of people for money; and our friends can easily share our requests with their friends, thus reaching thousands. In this way, funds can be raised from a large "crowd" of people for all manner of causes. This is crowdfunding.
More formally defined, crowdfunding is a collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations."  Thomas DLuca

"Recent statistics contributing to crowdfunding’s popularity:
    Annual out-of-pocket medical expenses in the U.S. have risen to $400 billion, or $1,254 per person.
1.     Average medical deductibles in the last eight years have increased 100 percent, from $584 to $1,217 for individuals, not including the price of co-pays, co-insurance, drugs and procedures not covered by health insurance plans.
2.     Forty seven percent of Americans can’t afford $2,000 in an emergency
    Annual charitable giving in the U.S. has grown to $360 billion, with 72 percent coming from individuals.
3.     The sharing economy in 2015 is estimated to be $15 billion and projected to grow to $335 billion by 2035.
4. How can you key into the trend and help yourself or someone you love overcome a hardship or challenge by launching a successful crowdfunding campaign? Join up with Bitcoin Funding Team and get in with the crowd" 

 Thomas Dluca

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Dr. Ariston P Awitan
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