Crowd-sourcing Creative Capital

Whenever I am talking with someone and we delve into the interesting depths of personal goals and aspirations — a creative tech genie seems to slip into my consciousness, and starts bombarding me with thousands of tech ideas. Most of the images, have the subtext attached “And together, WE will rule the Galaxy!” …. I love my genie, and it definitely makes for a fun conversation sometime, but I also regularly calm it down as to not risk being labeled as a bad listener.

These days however, I keep hearing the same thing from my little genie — and it has to do with tokenizing assets and crowd sourcing capital.

During a recent conversation for instance, my neighbor mentioned that he is considering to go back to trucking, and wants to buy his own dump truck. It’s not a bad idea — I thought to myself. An eight hour shift driving a truck would be kind of nice — imagine, having my mind free of algorithms — a true oasis!

But dump trucks are expensive, and herein-lies the opportunity. Traditionally, in order to buy a dump truck, a small business owner would need to go to a bank and get a business loan. But nowadays, decentralized finance, NFT’s and cryptocurrencies exist. Wouldn’t it be cool, if we could simply tokenize the purchase of his dump truck, and have friends, family, community simply put up the capital (stake it) for the purchase of my neighbors dump truck?

What sort of intrinsic motivations could be built into the smart contract to make it a win win for everyone involved?

I know interesting companies such as Honeycomb Credit exist which already have the facilities to crowdsource loans for the little guy. This is a promising start.

I’d be very curious to here what solutions there are out there. Please let me know in the comments below.

All the best