PARADIGM CHANGE AND INNOVATIVE FINANCING TOOLS, IN THE CONTEXT OF THE COLLABORATIVE ECONOMY

Abstract

Innovative financing tools in the context of the collaborative economy, we believe,
should be adapted to the current challenges existing both locally and at the European level, to
reflect the specific values and objectives of the collaborative economy, including transparency,
equity, and sustainability.
There are some key areas where we could improve and adapt funding instruments to support
the collaborative economy more effectively, including the following: transparency and accountability,
innovation in fintech, financial education, specialized funds, accessibility for small
and local businesses, continuous monitoring and evaluation, technological development, sharing
economy, sustainability, access instead of ownership, collaboration between companies, circular
economy, flexibility and autonomy, and knowledge sharing and access to information.
These changes have significant implications for how people work, consume, and interact
within society. In Romania, the main field in which the collaborative economy has taken off is
that of passenger transport. The analysis of the effects of the development of the collaborative
economy at this level highlighted the fact that the annual number of orders increased simultaneously,
both for ride-hailing services and for e-hailing services (through aggregator applications).
This may indicate that the entry and development of ride-hailing services took place against
the backdrop of favourable consumer reaction to the new mechanisms for requesting transport
services, a trend that also benefited taxi services offered through applications.
The huge amounts of information (data) make us say that starting from 2020 we are witnessing
"big data revolutions", and the way it is received, processed, and used depends partly on the
platforms on which this information is found, on the way it is presented and finally the way of
perception depending on the knowledge of each individual and his need. In the presented paper
based on empirical research, we aim to highlight innovative financing tools in the context of the
collaborative economy.