The connection between microfinance and sharing economymight look a bit strange at first, but these two have actually quite a lot in common. After all, both of them are disruptive concepts that empower people and offer alternatives to the current economic system.
At the same time, there’s a big difference in their level of maturity – while the sharing economy is still at its infancy stage, microfinance is in an adolescent stage, with a total of $70 billion in loans, more than 100 million “customers,” one Nobel Peace Prize winner, and even a feature on the Simpsons.
The similarities between microfinance and the sharing economy, together with the differences in their maturity levels, provide a great opportunity for the sharing economy to learn some valuable lessons from the more experienced microfinance, just like a young kid learning from his older sibling.
There are many lessons to be learned from microfinance, but these are the four most relevant ones to the future of the sharing economy. Applying them correctly can help the sharing economy move forward successfully and maybe even get its own mention on the Simpsons.
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