The future of digital donation crowdfunding
Issued Date
2022-11-01
Resource Type
eISSN
19326203
Scopus ID
2-s2.0-85141894675
Pubmed ID
36367868
Journal Title
PLoS ONE
Volume
17
Issue
11 November
Rights Holder(s)
SCOPUS
Bibliographic Citation
PLoS ONE Vol.17 No.11 November (2022)
Suggested Citation
Sirisawat S., Chatjuthamard P., Kiattisin S., Treepongkaruna S. The future of digital donation crowdfunding. PLoS ONE Vol.17 No.11 November (2022). doi:10.1371/journal.pone.0275898 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/86461
Title
The future of digital donation crowdfunding
Author's Affiliation
Other Contributor(s)
Abstract
Amidst the Coronavirus crisis, many fundraising projects have emerged to relieve financial burdens resulting from social distancing policies. Crowdfunding is a way to raise money to fund a business, project or charity, through either social media or other online platforms to reach hundreds of potential sponsors. We developed guidelines for effective donation-based crowdfunding through online platforms. Using Futures Research (FR) technique, we conducted our analyses in 3 phases. In Phase 1, we reviewed relevant literature and conducted in-depth interviews of related parties. In Phase 2, we interviewed experts using Ethnographic Futures Research (EFR) technique. In Phase 3, we visualized the future using the principles of Futures Wheel, Cross-impact Matrix and Scenarios. Based on our findings, effective donation-based crowdfunding platforms should adopt Blockchain technology for transparency and accountability, and incentivize donations to keep backers loyal. Founders should be required to obtain fundraising licenses from relevant regulators. Finally, laws and regulations that protect platform users should be standardized internationally. Our proposed guidelines hope to improve the quality and transparency of future fundraising activities.