Crowdfunding to foster the Cross- Governmental Relations!

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Crowdfunding has picked up the interest of many and as we say so, it is not just the individuals or the SMEs that we intend to highlight! The model has been recognised as a breakthrough for the revival of the municipal corporations, states and economies as well. There have been umpteen crowdfunding projects that have worked to uplift the Greek economy. And not just that, the model is also being used to improvise the cross border, trans- governmental diplomatic relations! The investment model has been used for various purposes internationally. However, this way of reviving the inter- government diplomatic relations has definitely raised interest of many governments to affiliate and prosper with the mutual help of others.

In case of different governments or federations, the methods of working and their priorities vary a lot. Many a times, the growth and development are interdependent. It must be noted that not all the governments – be it intra- national inter governments or international inter- governments are replete with all the resources required for their growth. In such cases, it is better to look out for the resources that can lead to mutual growth for all the involved governments. Having checked in such resources, the transfer of the same requires funding. Governments might not be fully able to do so and therefore, crowdfunding can be a great option to achieve the same. How?

  • Inter dependency of different industries located in different governments: For instance, tourism in a given government has huge scope of development for its naturally available resources. But it does not have the appropriate labour or skills to enhance the same. On the other hand, the other government has good labour availability along with unemployment. In such case, the two governments can affiliate and synergize by raising funds through crowdfunding and achieving the objective of employment and tourism.
  • Diplomatic relations: In some cases, it is not the actual resource exchange but a prospective synergy which can help both the governments grow. For such governments, it is pertinent to enhance their relations from the long term perspective. This can be done through giving funds for special causes, for charities, etc. The Government might not get the benefit in the near future but such helping and relation building can be useful in the long run. Besides, government might not have the required funds to help the other government. However, it can go for crowdfunding for the campaign and raise substantial funds to help the other governments.

The scope of the use of crowdfunding model has increased tremendously. Using the same for government level activities has a new future for the growth of both the government and the crowdfunding model itself. The governments can definitely strengthen their inter diplomatic relations and help to grow each other. Diplomatic relations are key to the success of governments and federations for the increasing globalization and the liberalization in all activities. Enhanced relations can only make it easier for governments to attain economic as well as social stability.

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This article is written by the Crowdfunders Editorial Team. In Asia, Crowdfunders.Asia is a leading portal on providing news related to crowdfunding, start-up, property and business. It is operated by CoAssets.com. CoAssets is South East Asia’s first listed and largest real estate crowdfunding platform. If you have any Crowdfunding news or stories to share, please email [email protected]

 

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