Open Source

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What is Open Source

Open source refers to a program with source code that can be modified or improved by anyone. Open source grants users of an application permission to repair broken links, improve the design, or improve the original code. Open source software (OSS) is an example of a kind of open collaboration that can broaden design perspectives much more than a single design company or workgroup. Open source practices can also lead to considerable savings.

Break open source

Open source is a perfect illustration of the adage that says “It takes a village to raise a child”. To perfect the usability of a product, several minds and talents are required for various areas of product functionality. Platforms developed and based on user collaboration work better and have fewer bugs. Software developers who promote the open source concept believe that by giving any interested party access to the modification of the source code of a product, the application will be more usable and error-free in the long term. Google Chrome, Mozilla FireFox, WordPress and Android are all open source platforms. By making their source codes accessible to everyone, open source products serve as educational tools for technology students who study the codes, learn from them and choose to create even better codes. As a result, better and more innovative apps are created from the foundations of previous open source apps.

Open source in practice

Open source promotes the free redistribution of its source codes, which is why it is also called free software. Source code is the integrated function that guides the operation of the application. Traditionally, most software or applications purchased or acquired have codes that can only be legally manipulated or modified by the original creators – usually an individual, a team, or an organization. This type of software is called proprietary or closed source software. The proprietary software is equipped with licenses which oblige its users to accept the directives established by the original creator. Open source licenses differ from proprietary licenses in that users must accept the rules associated with the modification, use and distribution of the software. For example, some open source licenses stipulate that if a user modifies and distributes a program to others, he must also distribute the source code without charging license fees.

Open Source Benefits

Since no authorization is required when using an open software application, programmers can usually fix and upgrade the source code of an application in less time than it would usually take. With closed source programs, the company or the creators of the code must be informed and users may have to wait considerable time before making changes to the application. In fintech areas such as big data, blockchain technology and cloud computing, innovation is driven by a collaborative open source channel. Due to the huge amount of data that feeds on emerging technology, companies are adapting to open source techniques and sharing the work involved with external users who can contribute and find new possibilities for shared data.

The spirit of open source has spread beyond contributing to the code. In recent times, technological innovators, developers and programmers have designed applications to support collaboration among users around the world in all kinds of fields, including peer-to-peer insurance.

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