As I tried to things to post here now, I have been gathering some materials for a month or so. I just couldn’t find a time to do that. The projects were killers. :(
I came across this Web 2.0 site called, Smartypig.com. Smartypig.com is a service site which users are able to set own saving amount. It’s a virtual piggy bank. At the same time, you can share your saving goal with others (family members too) so that they can contribute it if they wish. Since this is Web 2.0, it integrates with facebook and other social network sites.
I am little baffled with this service model and user behaviors. I maybe old school, but I don’t get the idea of sharing this kind of personal details. It’s a good behavior that can be recommended, especially in this tough economic time. Everyone wants to save some but I am not sure but doing this in public places.
Then I remember seeing other sites that are related to money lending sites a few years ago. Instead of getting load from banks, you ask from peers. The sites are even more popular now. Some college financial offices are even listing these sites as alternative way to get loans.
"Matching Borrower with Lender, Social-Network Style"
"Peer to Peer Education Loans"
Other sites are…
Obviously, lenders and loaners are getting something out of this service. The needs for both parties are different but the service brings them together to provide what both user wants. To bring this service as legitimate, the service site has to create “trust” to users. I wondered how this kind of service would be started… Peer-to-Peer service is common, but the amount of money both users deal are completely different level. Would this be a common service in future? Is this part of cloud service?