The Singularity is near!
In October I was fortunate enough to attend a one week executive programme at Singularity university at Nasa research centre in Silicon Valley.
This was courtesy of Aviva innovation who had sponsored the runner up prize for the London Grand Challenge.
I had presented my concept of P2P insurance, where people can link together through social networks to share risks amongst themselves.
The executive course at Singularity is designed to give people an insight into current trends in innovation and what the future holds.
Some of the areas that we covered were:
Artificial intelligence, robotics ,nano-technology, data analytics, medical technology, 3d printing, self driving cars.
Every day we would hear from experts and entrepreneurs in different fields who could give us a clear idea of what developments were crystalizing in their particular field.
This is all underpinned by the Moore’s law (Gordon Moore 1965) that we are witnessing exponential growth in all sectors thanks to the cost of computer processing/development is halving and the computational power is doubling on a year by year basis.
From a starting point, the theory of exponential growth are hardly visible, and this may be the case for decades. But the doubling effect is now becoming plainly obvious. There is hardly an industry or corporation that is not setting up an innovation unit or hub. They are doing this because each industry and corporation is worried that there may be an “Uber” moment around the corner for them, that will disrupt the status quo and turn their industry upside down.
For me, P2P marketplaces are a major part of this disruption that is clearly happening in consumer finances. The exponential growth is only just starting to get noticed and if this continues it will radically change consumer finance.
I’ve been fortunate enough to be involved in setting up a number of P2P exchanges and at this moment in time there are quite a few exciting concepts gathering momentum in P2P insurance, property crowd funding and crypto currencies.
At The Real Asset Co. we are setting up a gold-backed crypto currency using the blockchain technology, which will be going live in December. It will be called Goldbloc and we hope will be a transformational blockchain product.
I thoroughly recommend that you should try and attend the executive programme at Singularity.