11 Nov '11, 1pm

Crowdfunded Alternative to Mainstream Banks Raises £100,000 in 9 Days

Crowdfunded Alternative to Mainstream Banks Raises £100,000 in 9 Days

As The Story of Broke continues to make its way around the internet, many people are wondering what an alternative to our current financial crisis might look like. From the Plenitude Economy to local investing , there are signs of a new economy emerging all around us. People are even rethinking the notion of banks. Last week I posted on an appeal by UK-based Civilisedmoney , which was seeking investors for creating a peer-funded, transparent alternative to mainstream banks. Now that appeal is over, and the company raised its target of £100,000 (about US$150,000) in 9 Days. As one tweet that flew past as they raced to meet their deadline said, "banking is yet to have its Amazon moment" . Civilisedmoney will be hoping that this may be it. (I recommend following @civilisedmoney for more tweets on rethinking our financial system.) Interestingly, the whole concept was dreamed u...

Full article: http://www.treehugger.com/economics/crowdfunded-alternati...

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