I blogged about the overall Innotribe Program at Sibos here. That post is kept up-to-date with the latest announcements and program changes. The Innotribe program is also available here on the Sibos website.
This blog post shares some more details about the Hyper-Economies session. The session Hyper-Economies will take place on Tuesday 30 Oct 2012 from 12:30 till 14:30 in the Innotribe Space (the special tent in the middle of the conference centre).
We live in a hyper-connected world. The speed of change is increasing exponentially. Information has become abundant, versus scarce in the past, and change is happening in real-time.
This session will focus on the major cultural tectonic shifts that are underpinning and driving the hyper-connected economy and are the under-stream of deep organizational changes. We are witnessing the birth of new economies based on hyper-connected organizations, exposure of core competence through APIs, horizontal sourcing versus vertical integration, Peer-To-Peer (P2P) sharing of data and Open Source developments, that lead to a new practice for value creation.
We have brought together an eclectic set of igniters (our name for “speakers”) to have a healthy interactive debate on the challenges and opportunities these changes represent for our financial industry.
Mark Pesce is Founder of Future Street Consulting, based in Sydney. He is currently publishing a book on the topic, titled “The Next Billion Seconds”. Mark was already with during the Innotribe Bangkok event in April of this year.
Every company should assess whether it is reducing frictions, or whether it is introducing frictions. This friction (less)-rule not only applies to organizations and functions but also to people and events.
But be aware, there are some “irreducible” frictions. Mark Pesce identifies 6 of them, all starting with a “T”. Here is how Mark Pesce describes the 6 “Ts”:
No matter how ‘smooth’ and frictionless hyper-connected commerce becomes, certain frictions in the business world will persist. These represent both speed humps and opportunities. The businesses of the 21st century will find leverage and differentiation by identifying and exploiting them.
- Time – If it were done when it were done, they’re well done quickly;
- Territory – you can’t be everywhere at once;
- Talent – some people are naturally better at it than others;
- Trust – is rarely immediately conferred, instead growing from a continuing relationship, and must exist for commerce to succeed;
- Tongue – language barriers persist until we all speak Globish.
- Tension – frictions in teams between humans
Michel Bauwens is in my opinion the absolute “guru” for the P2P Economy, the thinking behind the Commons and the role of Open Source in software and other collaborative approaches.
He is the founder of the Peer-to-Peer Foundation and works in collaboration with a global group of researchers in the exploration of peer production, governance, and property. Michel currently lives in Chiang Mai, Thailand, has taught at Payap University and Dhurakij Pandit University’s International College. He is a founding member of the Commons Strategies Group.
The Hyper-Connected economy leads to new models of co-operation, and value production in highly connected P2P networks. Michel describes this as “Commons-Oriented Peer Production”
To get a deeper understanding of Michel’s work, check-out this fantastic report “The Synthetic Overview of the Collaborative Economy” (link to PDF file)
Allevo’s presence at Sibos will be under the signs of Innovation and Open Source.
Their project FinTP gravitates around the bold idea of developing an open source application for financial transactions processing and a creative community around it.
FinTP is an open distributed application for processing financial transactions and it is based on the 7 years practice proven solution Allevo has successfully deployed at its customers.
Covering the entire life cycle of financial transactions, FinTP intends to create a widespread financial transactions processing platform, an alternative for an industry common solution. The hope is this will evolve into a new standardization layer – a single financial dialect comprehensible for any party involved from individuals, SMSs, to corporates and financial institutions.
We believe this represents in fact the acceptance of the commoditization of the payments processing arena.
The format from this session will be a facilitated conversation. Like in Bangkok, we will help the audience identifying friction points in their value chains, and assess how the concepts of the Hyper-Economies, P2P and Collaborative Economy, and Open Source can give rise to a rich eco-system of parties building added value on top of Open Source platforms in financial services.
The session Hyper-Economies will take place on Tuesday 30 Oct 2012 from 12:30 till 14:30 in the Innotribe Space (the special tent in the middle of the conference centre)
This session is a meta-story for the session “Future of Organizations”, that follows right after this Hyper-Economies session.