Moreover, due to new innovations and lack of scientific support, crowdfunding practices are starting to receive more scientific attention from academics, and respected journals, international conferences and academic papers will help measure the overall performance of crowdfunding practices. Crowdfunded projects will demonstrate whether it works or not, and the market performance of crowdfunding platforms will determine the appropriate business models. Due to the lack of scientific support, Hemer et al (2011) create a detailed flow of the crowdfunding platform in order to create a better understanding of the crowdfunding platform. Crowdfunding functioned as “network orchestrators” where crowdfunding training was created as organizational systems and a place of integration between supply and demand actors (Ordanini et al., 2010). Crowdfunding acted as an intermediate relational mediator between demand (inventor, new artists, designers, project promoters) and supply (committed supporters, supporters, donors); relationship brokers have replaced traditional intermediaries such as traditional record companies and venture capitalists. Crowdfunding platforms conceptually linked supply and demand where committed supporters believed applicants and provided monetary support to realize projects (Freund, 2010). Sometimes crowdfunding platforms will face cases of fraud, server failures and public disappointment. Due to less regulation of crowdfunding practices and less attention from government and academics, the will will allow the full range of experimentation that could provide undesirable developments such as weapons development and pornography (Giuducci, 2013). If a crowdfunding platform was founded with serious funding… middle of paper… in many ways to maximize success factors (Isenberg, 2012). Crowdfunding platforms should list tips or frequently asked questions (FAQs) on how to create project presentations, create images and videos, and how to choose donation categories. They also need to put in place search algorithms that can automatically analyze presentations for word count, sentiment and readability to attract more audiences. The crowdfunding platform continuously grows, attracts investors and reduces intermediaries by eliminating the activities of service providers previously involved in the network. The platforms have used crowdfunding to find stakes from private investors who have large amounts of capital and match them with people who own the ideas. Crowdfunding has become a threat to banks and the conventional lending system, because creative individuals and small and medium-sized enterprises (SMEs) prefer to take a chance on this platform.
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