Diversity & Inclusion
Updated: Nov 11, 2020
What truly matters ‘Democracy or Decentralisation’ within the digital footprint?
There has been a shifting paradigm towards the needs and wants in society with
democracy being the driver. Now, the human race is shifting toward wanting more
ownership of a decentralized nature; such a movement makes space for more
freedom, autonomy, and equality. JUUBIX aims to tackle this shift.
The realisation that power has been in the hands of individuals who do not understand the societal needs of the economy has become a challenging factor globally. Subsequently, there have been political, governmental and social data breaches from large corporations, tax evasion and sheer greed to hold a monopoly on various markets; this has hence stifled innovation growth within the UK and globally making investments unsustainable and unattainable. When we look at why or how this translates or affects the modern-day worker, we perceive that there is access to opportunities and finance or we could rephrase and state that there is access to equitable opportunities and finance. But we couldn’t be more wrong. The gap between equity and accessibility is largely growing, excluding and segmenting certain groups.
‘Is this the right time for accelerated change?’
I guess the question is ‘Is this the right time for accelerated change?’ So in other terms ‘Do we step our foot down on the accelerator?’ It sounds scary and challenging but this is what we face after a pandemic that had most of the world shutdown, with a second wave pending. Accessibility has been a key denominator across the board in regards to how services are handled going forward, cashless systems, peer to peer ecosystems, and digital implementation are all considerations for ease of access to the more vulnerable parts of the world. Going forward what truly matters is how ‘We’ collectively drive and force change to factor in the vulnerability of children and adults across the globe to create a sustainable global economy instead of looking at it from a local level.
The realisation that having a job with an annual salary doesn’t actually make you equitable or give you the opportunity to make sustainable investments is common yet hardly challenged. Not to mention financial strain increasing the flow of negative debt like credit cards and loans, which are easily obtainable once you can prove you have a continuous income, same goes for how mortgages are given. The value of having received 1/3 of your salary on day one of the job increases your chance of sustainability and investment value. It creates wealth instantly when better decisions are made because they are decentralised and autonomous in nature. So the job does not engulf you mentally and physically but instead motivates you to work harder and faster creating substantial return on investment for the organisations or companies of which you are employed. Working in this way would increase the wellbeing of our society, so is really a must for the future of business.
Decentralisation is already here with digital currencies making finance more accessible, the decentralised nature provides ownership and more transparency for existing supply chains across markets. During this pandemic we have seen the rise in individuals feeding off information shared within their digital networks and having to validate the information received. Decentralised finance (DeFi) will want to reach the 1.7 Billion unbanked population which concludes to 1 in 3 adults around the world, creating a distribution of wealth and equity across markets; there is a key need for transparency, accessibility and inclusion. DeFi can and will create more innovation in the world playing a big part of our lives going forward, but we need to control the complexity of decentralised mechanisms and validate who owns these permissions.
‘Do we see these changes having a big impact on our lives and in the way things are done?’
Diversity & Inclusion – AI, Blockchain, Automation, Robotics technology will create opportunity for change.
Amidst a time where awareness is paramount to the injustices around the world, transparency helps and encourages change. Technology only enhances the changes we are yet to expect; Do we see these changes having a big impact on our lives and the way things are done? Yes, it will, as we now see Uber drivers take precedence in restaurant’s that are filled with customers but it all boils down to time and accessibility i.e. who ordered first. Being somewhere physically does not make you more important and even the actual infrastructures have less clout going forward. Does this mean a revolutionary change in our landscape could significantly improve our wellbeing and way of life? That’s where technology like AI, Blockchain, Automation, Robotics will create opportunities for inclusion and diversity, highlighting the actions we need to take to improve our world. With education being at the forefront of how we learn and grow in knowledge the key thing is to improve the current system to support the technological advances happening day by day, the future generation will need to be multi-talented to adapt to the rapid and dynamic changes in technology.
Diversity & Inclusion – The Millennial Perspective by Holly J
I have experienced first-hand the need for diversity and inclusion within career sectors; and quite frankly, the lack of. I believe that decentralisation allows for a flexibility that limits rigidity, something critical to this climate. At times, valuable input from employees is either overlooked or stolen due to hierarchical structures. This feels outdated. Luckily, there are a few people who agree with me…
As Susan touched on, we have bear witness to extreme events during these few last months that, although visceral, woke the world up. Part of why millennials were so vocal in promoting change during the pandemic is because they had the opportunity to do so.
Social media in its freedom has given writers, actors, activists and millions more the platform to demand pay for their essential contribution to this world. That is the beauty of this shift, it is opening up facets of hope and motivation within my generation. In a centralised work structure, you may never get a seat at the decision-making table, especially if you are in a marginalised group. But, through digital means, we are now seeing a chance to input ideas and creatively collaborate. Decentralisation is thus innovation in action. Although we have a long way to go, we will never stop trying.
Diversity & Inclusion – Has no barriers to entry post Covid-19
Covid-19 raised the heads of many in regards to the vast amount of people affected by the ramifications that were outlaid thereafter, the core benefits DeFi offers is it opens the barriers that were once closed to SME’s a 3Trillion global market who are more geared to creating solutions for the developing world. Post Covid-19, we have all digitally witnessed death on a global scale. We have learnt how this in turn impacts our environments with an increased awareness that financial inequality impacts health and wellbeing. We are now having to really think about the possible repercussions this could have on our economies.
Is the compliancy to solve these issues more damaging to us overall?
Is there a need to action and provide a solution that can quickly be reactive in such circumstances?
Distributed Ledger Technology (DLT) is the underbelly of DeFi and can offer broader benefits similar to open-source software. Decentralisation also offers self-sovereignty. Moreover, individuals can provide permissions to various organisations to access their finance, personal, employment and genetic data in the form of credentials, returning ownership of the data back to the individual. The key thing is that decentralisation allows individuals to own their own money and based on participation can equate a value, which therefore creates more equality and opportunities for all.
Written by Susan Falola, CEO/Creative Director of JUUBIX. Feature by Holly James, Marketing Communications. Find her previous blog for spotlight, here.