File
sharing is the ability to share and transfer files between computers through
technology such as file-sharing software or the Internet. Streaming sites have become increasingly
efficient and cheap, most even free in today’s society with the amount of
pirated movies, music, and TV shows. “The
slow download process, often using a peer-to-peer technology called BitTorrent,
required patience and a modicum of sophistication by users. Now, users do not
even have to download. Using a search engine, anyone can find free copies of
movies, still in theaters, in a matter of minutes” (Stelter & Stone). This
is such a problem because if people are just streaming illegally and not
downloading, it is a lot harder to track these piracy actions.
P2P file sharing is peer-to-peer file
sharing where each member has equal accessibility and permission to share the
files between each other. There are a huge number of P2P sites such as The Pirate
Bay that allow people to utilize this file sharing technology.
As discussed in the article Peers Find Less Pressure Borrowing From Each
Other, Google is collaborating with Lending Club, the nation’s largest
peer-to-peer lender. With the banks not having much to offer in terms of loans,
people are increasingly turning to the Internet for help. “Laplanche says investors make a nice profit, but consumers
still get lower rates than they would with a conventional lender because
peer-to-peer lending operates like a marketplace” (Kaufman). P2P lending gives
investors the opportunity to invest their money for a rate of return as well as
the customers who get a loan for a fair rate. This method is also a more direct
method because there is no middleman.
Citations:
- Peers Find Less Pressure Borrowing
From Each Other May 10, 2013 http://www.npr.org/blogs/alltechconsidered/2013/05/10/182651552/peers-find-less-pressure-borrowing-from-each-other
- Digital Pirates
Winning Battle With Studios by Brian Stelter and Brad Stone. The New York
Times, Feb 5, 2009, p. A1.http://www.nytimes.com/2009/02/05/business/media/05piracy.html
Hi Tiffany,
ReplyDeleteI also found the Peer-To-Peer lending article to be interesting. As Google, a major tech company, has invested, I wonder about the future of Peer-to-Peer lending and in which ways, and how fast, it will grow. I also can't help but wonder what the threats of peer-to-peer lending are, as there are surely far less regulations as borrowing from a bank.
James