Impact Technology refers to the intentional use of frontier technology to benefit and promote new sources of employment and accelerate economic diversification, while also addressing major social issues.
All this prevents third world countries from accessing the latest software technologies. Impact Crowd Technology aims to leverage innovative technology to decrease the digital divide and drive prosperity through trade in developing countries.
As new software technology and the digital transformation is pushing efficiency, productivity, growth and prosperity in the west, third world nations are falling further behind. This digital divide means the wealth gap between poorer nations and the developed world is growing, often leading to delays of 10-15 years before new technologies can be deployed (for example, Spotify).
Due to the necessity of venture capital (VC) – in conjunction with a widespread lack of it –most successful software companies arise from the few geographical areas that have an established VC industry. ‘The power of capital’ also forces entrepreneurs to only market and distribute new software in developed markets.
There is a huge opportunity
The spread of hardware technology, such as computers, mobile phones and their software, would benefit third world nations. It would allow them to catch up or even provide an opportunity for technological leapfrogging.
However, as more than 20,000 new apps and software are released daily, 365 days a year, the concept of “free” not only prevents entrepreneurs from succeeding (as the apps drown in the abundance of new tech), but it also prevents developing countries from finding and accessing new content.
Since there is no such thing as a free lunch, software is nowadays mostly spread by online advertising. This means that customer acquisition costs, paid by the VC industry, is allocated to the wealthy online media conglomerates (predominantly in the US and the Silicon Valley area).
To address this imbalance, Impact Crowd Technology intends to distribute other companies' software through its network, not only in the western world, but especially to developing nations. Customer acquisition costs, in the form of sales commissions (as opposed to advertising), will be allocated to neglected geographical areas and to people who want and need an income. Moreover, for the first time, new software technology will be spread ‘first-hand’ in developing nations.
We want to move away from the wealth that piles up through cumulative advantages. Instead, we seek to provide an opportunity for technological leapfrogging to countries with the right capabilities. We accomplish this by leveraging rapid innovation and technology while ensuring that everyone has equal rights to economic resources and opportunities.
The ‘sharing economy’ is a well-established concept today. The taxi industry has Uber and the hotel/apartment rental sector has Airbnb. More recently, the crowd economy combines with the gig economy in an attempt to disrupt an existing industry.
The ‘crowd economy’ is where millions of people share the benefits of a collective effort, using the power of the internet, human interaction and relationships.