It is important to have the ability to improve one’s community. But it is just as important to retain the ability to reside in that community after the improvement have been made.
Civic Beautification Efforts
Imagine using local resources to empower those who reside in disinvested communities through crowdsourcing. Imagine affording local residents the ability to contribute to the restoration of their communities without gentrification. Crowdfunding can allow residents to turn creative, sustainable projects into a reality. Communities seeking to do restoration projects that do not have an economical return could use platforms like ioby or Citizinvestor.com, crowdfunding platforms that help residents raise money for public projects. Platforms like Citizinvestor.com also allow for residents to partner with the city to conduct joint projects. In communities that have had years of disinvestment, the government and community coalitions will need to create ways to restore public confidence to help win investors trust.
Economic Improvement Efforts
Crowdsourcing in such a community could function by allowing the residents to contribute their nominal funds to other residents’ nominal funds to create an investment fund. Each resident, based on their contribution, would have a certain percentage of ownership in the overall venture. These funds could be used to help create local groceries with actual fresh produce, community centers or programs for the youth, employment for local residents, and beautification initiatives. Ownership could be maintained on a private or public blockchain, which is considered to be immutable, depending on the needs of the group. Immutability can help build trust amongst those looking to invest in the projects of the community.