CHAPTER 4
Introduction to Financial Service Innovation Crowdfunding
With its rapid development, the concept ‘crowdfunding’ is not only regarded as a sub-category of open innovation, i.e., actively seeking inspirations from outsiders, but also becoming one of the mainstream financing instruments to support creative ideas in many domains.
This chapter investigates crowdfunding from financial service innovation point of view. Firstly, the general knowledge of financial services is described; secondly, the concept of FinTech is introduced in order to demonstrate how digital technologies transform the financial services; finally, fundamental knowledge of crowdfunding is discussed.
4.1 Financial Services
The basic principle of financial services ...
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