నైరూప్య

The dawn of the crowd: Crowdfunding and the disruption of the trilliondollar bank lending industry.

Kanayo Ogwu*

 Crowd funding innovations and practices will eventually usher in the worlds next financial revolution. As more people get on the crowd funding bandwagon, the concept will evolve to cater to the needs of a wider spectrum of fundraisers irrespective of their geographical locations and or credit worthiness. The rise of a new category of funders and or quasi-investors; “millennials”, are at the verge of disrupting the once profitable trillion-dollar bank lending industry. The collusion of radical and creative entrepreneurs alongside the force of the crowd, could easily bring about an actual democratization of access to capital on a global and unprecedented scale. This revolution will mark the death of the trillion-dollar bank lending industry. The findings from the study indicates that the financial revolution that crowd funding promises, will most likely start from a developing context where entrepreneurs and SMEs operating in such less credit attractive environments, have faced the most horrific forms of discrimination from traditional and or institutional lenders whilst attempting to raise funds for their businesses. Crowd funding as a concept was born in America and there are indications that as the concept grows to replace the trillion-dollar bank lending industry, the first victims will be already established American banks who have their tentacles spread across the world.