The concept of crowdfunding was spurred by the Global Financial Crisis of 2008 when individuals finally took it upon themselves to finance their ideas instead of heading to banks and other big financial institutions for their initial capital. American economic and social theorist, Jeremy Rifkin, summarized this: “Now millions of people are becoming their own bankers.” And indeed this had become the trend with sites such as Indiegogo and Kickstarter, where individuals could post their […]