Unpacking the Financial Services and Crowdfunding Evolution in the Sharing Economy

Abstract

Sharing economy is a phenomenon emerging in all aspects of social and business practices. While its impact is most prominent in the mobility and accommodation domain, some of the earliest demonstrations of the benefits of the sharing economy have occurred in financial services. Financial services in the sharing economy range from peer-to-peer lending to crowdfunding with participation from new start-ups and incumbent financial service providers with for-profit or non-profit goals. Given the variety of elements represented in financial services, there is a great need to collect and connect what has been done and to identify some common themes, which will serve as a basis for future discussions on the evolution of financial services in the sharing economy.