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Crowdsourcing Microfinance
Stanford Social Innovation Review, Summer 2011
What happens when crowdsourcing is applied to the microfinance sector? Bankers Without Borders, an initiative of the Grameen Foundation, has embraced crowdsourcing—the process of leveraging a large group of people to take action on a project—to develop its volunteer corps. Crowdsourcing has succeeded mostly for technology-focused organizations: Wikipedia has used it to build an online encyclopedia, and Unix has deployed it to develop open-source computer systems. Yet translating it to microfinance had never before been done.
The Grameen Foundation opened in 1997 to support and grow the microfinance sector. It was inspired ... Read more
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