The Disruptors, Inclusion (ists) Robo-advisors, Digital Economists and Crowd-funders…an Atlanta Reunion by Barbara Cerda for BCSolutions

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It was the usual January day in Georgia’s south…chilly with bright sun.  It was just the right kind of winter’s day native Chicagoans pray for.  This was a time when the 2016 HOPE Global Forums delivered again on its promise to inspire and conspire with young minority and women entrepreneurs. Finding a home in the Atlanta Marriott Marquis, it held the delightful feel of the familiar yet newly organized beyond its norm. The event managers and their digital minions brought a new online application to the gathering to advance registrations for forums and events.  Within all the glam and show was a wealth of the globe’s greatest thinkers and wealth builders that successfully strengthened global economies. The message was how the newest transnational disruptor is reshaping our world and intruding into every economic think tank session and forum.

From Davos to Atlanta the conundrum of how and why digital technology will serve the global underserved and poor communities is growing. Digital technology has become our new HOPE.

The most important take away message from this global summit was how the world’s most powerful instrument for change is impacting struggling communities waiting to be served.   Digital disruptors are reshaping Wall Street and has penetrated deep into the social constructs of global economies. It is breaking asunder how we grow information and wealth. This is a time of the biggest prosperity building engine in the history of man?  It is opening the doors to solving the needful enabling of the poor while creating new wealth builders. The need is ancient requiring nascent ideas.

The summit addressed this by bringing together both breakout forums blended with brilliant panelists.  The common theme, as in Davos, was by what means will we bring the benefits of digital technology to the poor and disenfranchised?

Tried and true possibilities of creating engaging financial products that can address the needs of the disenfranchised were discussed.  We learned that when addressing the needs of the masses the banking community’s most valuable commodity is trust.

Trust is needful in order to further the aims of bringing the feeling of inclusion back to stressed communities.  There must be a sense of faith in the economic systems and it must flow both ways.  The current mindset of financial houses is still mired in 1932 concepts.  Struggling communities are still being forced to go to the same wealth keepers who are still mired in antiquated banking regulations.  This hinders the digital culture from truly breaking free to serve the underserved.  Change in how traditional business is transacted is a must when taking into consideration its future which lies in a populace of increasing digital users.  The largest proportion of users in the world is in developing nations.  Of those countries Indonesia and Kenya have the greatest number of users.  Of those users the largest number by age group are under 25 years.

To gain their trust transparency must be the start.  Digital technologies like block chain draws us closer to that goal.

Within this digitalized mining system person to person dealings requires no third party. This is a peer to peer or within a community system of buyer seller transactions.  Block chain is making us understand that basic banking is being transformed. Glass–Steagall Act was created to guard the door.  Dodd-Frank Wall Street Reform and Consumer Protection Act is meant to regulate how we use those doors.  Finance, banking and the underlying flow of money is now being disrupted by way of digitalized money.

The digitalization of wealth has become the great disruptor of our age. It will serve to solidify the concepts of inclusion and self-realization.

The results will be an equitable world where dreams of a fruit filled life should become the ordinary for all…it should be written in every DNA.  This endeavor must become a global contract. From enabling communities to crowd fund banking to the privatization of businesses in m1 and 2 economies, digital technology has become the great inclusion (ists).

Digital economists are witnessing the changes in communicating and creating new ideas on how business and wealth is generating. Robo-advisors are teaching a new type of wealth management that is reaching deep into emerging markets where young adults are the average age of digital users.  Algorithmically-based automated investment is replacing traditional advisories.  Global regulators are giving a nod to what countries like China have already acknowledged as the future of block chain technology.

Even attendants at Davos this year understands that the great disruptor is enabling therefore changing the dynamics of growing information and wealth from the bottom up.