Most discussions about the financial sector are focused on how it has been (or will be) affected by fintech. While this is interesting, how fintech will affect the non-financial sector promises to make things even more interesting.
The decentralized world of the Internet is a marvel, enabling us to engage directly one-to-one, one-to-many and many-to-many without the interference of a central power or institution. It has changed everything. Take the example of the hashtag #metoo, the social media movement that exposed harassers to the verdict of the whole world. This hashtag solved a problem that the centralized world, run by government institutions, police, the legal system, etc., continuously failed to address with the same impact.
The power of a viral hashtag can be bigger than all governments combined. This means that ‘we the people’ can solve problems together without interference from a central institution. Governance and power are becoming decentralized and democratized in a way we’ve only experienced in very small communities or families. The shift is mind-boggling.
In the podcast, you’ll learn:
- How the increased decentralization of the worlds allows people to take novel approaches to solving long-lasting problems
- If it is possible to take inspiration from the Internet, social media, and blockchain and build a decentralized financial system
- The difference between an ‘ecosystem fight’ and an ‘ecosystem play’
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