Starting to answer the question: Why?
On weBounty users create, support and complete a wide variety of initiatives. We call one of these initiatives a 'bounty', and in a lot of ways it functions like a traditional bounty. It sets out an objective and offers a monetary reward for its completion.
It's a simple vehicle: Objective, Action, Reward So, what are we doing with it?
We've adapted the model for an online environment, adjusted some of the inner mechanisms, and added a few of our own. Please allow me to elaborate:
There are some excellent online applications of the bounty model - providing incentive for the discovery of software bugs to name the most common one. But there are significant limitations to the current implementations of the model. On the visual front, we'd like to recapture some of the impact factor that the publicly posted notices employed. On the technical front, we want to tackle more categories...like pretty much all of them. That means we're going to be adapting the bounty creation process for different types of bounties. We'll go into the details of that and the types of bounties in a later blog post.
Another traditional aspect of bounties that we're removing is the single funder. This is not to say that bounties can't be created by a single person on weBounty, but that crowdfunding the bounties is a major element of the platform. Think about how many more bounties can be created if the resource burden can be shared. With a crowdfunded bounty, taking on the bigger challenges in life seems less daunting.
Lastly, we wanted to address the accountability concerns that come with operating a platform that is talking about big change AND dealing with money. We see other crowdfunding platforms as serving a critical purpose; they are websites that effuse optimism, proactively funding initiatives, and we support this! But we also recognize that more and more, people are looking for a system where they can reward the hardworking after seeing the hard work. And this is where weBounty's innovates again, but that's for another blog post...