Excellent point. I believe Kickstarter checks and balances are good, but more will need to be added over time and refine the existing ones maintain their dominant status in the crowdfunding marketplace.
There are enough crowd viewers to investigate and pick up on plagiarism but it will be more difficult to stop a fraud using the crowd if the project is a perpetrated scam and not caught by KickStarter. KickStarter and the other clones really need to be more diligent in this area. KickStarter needs to utilize investigators to ensure authenticity. The platform with the highest rating for authenticity will win the game and over time the others will fall by the wayside due to lack of trust.
I would like to see KickStarter be proactive and allow the crowd to be more involved in authenticity due diligence throughout the project. They could add a "Like" button with a bar graph:showing the number of viewers, number of likes and dislikes with a Twitter message field of 160 characters to state the reason why the like or dislike to the project organizer with the option to send as a tweet and the organizers to respond.
I read everyday now about fraud in crowdfunding. It seems that the sentiment is Crowdfunding will fail due to fraud. I am see a different picture with this story. It looks like the Crowd is ready and able to take on the role of policing and stopping fraud. KickStarter owns a little of the blame for this fraud as I believe by being more diligent during the front end screening process they could have stopped this project from ever being approved.
Wouldn't it be nice if Wall Street were much more transparent so the Wall Street, Bankers, Investors etc could police themselves and stop the fraud.
I believe that both the 99% crowd and the 1% crowd are capable of policing fraud.
Techdirt has not posted any stories submitted by CrowdSecrets.
Fraud Policing
Crowd Policing
I would like to see KickStarter be proactive and allow the crowd to be more involved in authenticity due diligence throughout the project. They could add a "Like" button with a bar graph:showing the number of viewers, number of likes and dislikes with a Twitter message field of 160 characters to state the reason why the like or dislike to the project organizer with the option to send as a tweet and the organizers to respond.
Crowd Policing
Wouldn't it be nice if Wall Street were much more transparent so the Wall Street, Bankers, Investors etc could police themselves and stop the fraud.
I believe that both the 99% crowd and the 1% crowd are capable of policing fraud.
Techdirt has not posted any stories submitted by CrowdSecrets.
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