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FinTech Lecture 13 : FinTech Ideathon

FinTech Lecture 13 : FinTech Ideathon

Slides I used for FinTech - Financial Innovation and the Internet 2022 Fall at Graduate School of Business and Finance, Waseda University on January 13, 2023.

Kenji Saito
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January 11, 2023
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  1. Sending money — generated by Stable Diffusion.
    FinTech — Financial Innovation and the Internet 2022 Fall
    Lecture 13 : FinTech Ideathon
    Kenji Saito, Graduate School of Business and Finance, Waseda University
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.1/26

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  2. This class is recorded
    7 out of 15 lectures will be online only. When online,
    Camera ON is recommended, but not required
    You do need to speak often anyway (we are going to have a lot of dialogue)
    We will use breakout rooms a lot, but those won’t be recorded unless you do it yourselves (need to be allowed)
    Keep your Zoom client updated!
    We might use latest features
    The recordings could be used for research on (online) learning
    Transcribed for use and anonymized
    Will let you know when the necessity arises
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.2/26

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  3. The lecture slides can be found at :
    https://speakerdeck.com/ks91
    Recording and chat text will be posted at Moodle and Discord
    Trial automatic transcriptions will be posted at Discord
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.3/26

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  4. Schedule (provisional)
    Lecture 1 9/30 Overview of FinTech (1) •
    Lecture 2 10/7 Overview of FinTech (2) •
    Lecture 3 10/14 Internet Technology and Governance (1) — online •
    Lecture 4 10/21 Internet Technology and Governance (2) •
    Lecture 5 10/28 The World of Apps (1) — online (close enough to Halloween) •
    Lecture 6 11/11 The World of Apps (2) — online •
    Lecture 7 11/18 Basics of Cryptography and Blockchain — online •
    Lecture 8 11/25 Blockchain •
    Lecture 9 12/2 Blockchain and Smart Contracts — online •
    Lecture 10 12/9 Smart Contracts — online •
    Lecture 11 12/16 Further Smart Contracts •
    Lecture 12 12/23 Cyber-Physical Society and Future of Finance •
    Lecture 13 1/13 FinTech Ideathon — online •
    Lecture 14 1/20 Q & A
    Lecture 15 1/27 Presentations and Conclusions
    Online presence is possible but not recommended for non-online lectures for interactivity reasons
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.4/26

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  5. Last Time, We Did. . .
    Assignment Review
    Cyber-physical Society and Future of Finance
    Q & A
    Assignment
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.5/26

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  6. World Café
    to Organize Your FinTech Business Idea
    Here is the default question :
    “Summarize an idea for applying FinTech to the international aviation business”
    This includes anything that appears at international airports and beyond
    · Examples : passports, visas, tickets, immigration, customs, airplanes, money exchange, duty-free shops
    Use of blockchain (or better versions of them) is recommended because of the need to
    handle legal or any rightful records across countries
    Or, if you have a specific idea for another application, summarize that instead
    Feel free to use the outcomes in your presentations next week
    (Remember to acknowledge any notable contributions from others)
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.6/26

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  7. What We’re Going To Do Is Like Brainstorming
    Better to come up with a lot of ideas
    Especially at the beginning, don’t be afraid of divergence
    Speak freely
    Take everything positively
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.7/26

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  8. Let’s do “World Café”
    Who has done it before?
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.8/26

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  9. What’s World Caf´
    e?
    It’s a way for people to have “dialogue” on a topic
    Not “discussion” or “debate”
    What’s the difference between “debate” and “dialogue”?
    For the same action or behavior A,
    “You lose if you A” vs. “You waste your time if you don’t A”
    What’s A?
    Some cases involved 1,000 people in one “dialogue”
    I’ve facilitated ones with 500 undergraduate students several times
    I am still developing and experimenting with ways to implement it online
    It’s always fun to experiment and make challenges
    World Café is easy, so please try it again yourselves sometime somewhere
    There is a reference at the near end of the slides
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.9/26

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  10. How To Do World Caf´
    e (1)
    1. A small group of people (4 or 5) surround “table”
    (this time Zoom breakout room) (hereafter, the words “table” and “room” are used interchangeably)
    And talk about one theme (this time about 20 minutes)
    We call this “round”
    We can write and draw anything on paper (this time miro whiteboard)
    Colorfully (use your favorite colors)
    While eating sweets, if you would like
    Don’t erase whatever you wrote or drew, and keep them as a part of the
    dialogue process
    The board can be used very widely!
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.10/26

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  11. How To Do World Caf´
    e (2)
    2. After a round, leave one member on the table as “host”,
    And the rest are “travelers” who move to another table
    To start the next round
    Host is not MC or leader
    Nobody leads you to anything
    A table is a “safe place” where it is free to say anything on an equal footing
    At the next table, try to gather with people you have never spoken before
    At least try not to be with people from the previous table
    This time, we’ll make sure about it with a few simple rules
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.11/26

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  12. How To Do World Caf´
    e (3)
    3. At the beginning of the new round,
    “Host” will introduce what was said in the previous round,
    And the “travelers” will also introduce what was said at their own previous
    tables
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.12/26

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  13. How To Do World Caf´
    e (4)
    4. By doing this over and over again,
    We will “pollinate” tables with ideas from different tables
    While we’re all talking about one big theme
    In today’s World Café, everyone will return to the first table in the 3rd round
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.13/26

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  14. World Caf´
    e Etiquette
    Please pay attention to these :
    Focus on the “question for each round”
    Express youself positively
    Short, succinct talk
    (you can talk as many times as you want, but try to be concise every time)
    Listen to other people
    Put your ideas together
    Write or draw with a playful mind
    The end of the round is non-destructive (graceful stop)
    This time, when a round ends, you will have 60 seconds before the room
    closes
    If you’re in the middle of saying something, do finish it
    (In a physical world café, the facilitator would start clapping, and everyone claps to end the round, for example)
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.14/26

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  15. Let’s Get Started
    Keep your desktop organized
    You only use Zoom and miro
    And of course, do your research on the web (use your external memory!)
    You may also want to consult with ChatGPT
    Please write your notes in miro and share them in the room
    So that everyone will be able to see the notes
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.15/26

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  16. Theme and Host
    Theme :
    “An idea for applying FinTech to the international aviation business”
    (or to just about anything)
    Identify “host” (a person who stays at the table) when you breakout
    “Host” is not MC or leader (everyone is equal)
    But if you wrote an idea not on the aviation business for the assignment, you should be the host, because your
    idea will be the central topic of the table (everyone will help you and everyone will be helped by your idea)
    Hosts also have opportunities to learn from other tables (as travelers come
    and go)
    The host is number 0
    The other members should be numbered 1∼3 (or 4) (the order has no
    meaning)
    After deciding on the number, change your name to something like
    “Pat Smith 3”
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.16/26

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  17. Round 1 (20min.)
    This is a round to think about the pains of people
    First, briefly introduce yourselves if you have to
    Decide on the host (number 0) and numbers for the travelers
    Put the number in your Zoom names
    Then write or draw as you think about the question for the round
    Use the board corresponding to the room number listed in Zoom & Discord
    Question for this round :
    What are the pains? (What are the problems and why are they problems?)
    You can also talk about situations other than the aviation business if you have specific
    ideas
    Focus on question / Proactively talk about your thoughts / Talk short and simple /
    Listen to others / Connect ideas / Write or draw more and more
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.17/26

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  18. “Travelers”, move to another table
    When the breakout rooms open, move as you are told, and then
    Go to the room whose number is the sum of the room number and your number
    If you are a traveler, mouse over the blue number of participants on the list of
    rooms, and click “Join” or whatever
    If you are the host, stay in the room
    Note that room n (announced on the day) is followed by room 1 (wraps around)
    If the sum exceeds n, subtract n to get your new room number
    This should mean you won’t be sitting with the people in the first room
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.18/26

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  19. Round 2 (20min.)
    Please share thoughts from the previous round in the first 5min. or so
    First, briefly introduce yourselves if you have to
    Everyone tells what happened at the previous table
    It is OK if you just tell the most impressive part
    In this round, you apply your FinTech ideas to ease the pains
    Question for this round :
    What is the specific pain you want to ease? (please pick one)
    How do you ease the pain using your FinTech ideas?
    What would be the obstacles to applying the ideas?
    Focus on question / Proactively talk about your thoughts / Talk short and simple /
    Listen to others / Connect ideas / Write or draw more and more
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.19/26

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  20. “Travelers”, move back
    When the breakout rooms open, move as you are told, and then
    Go to the first room you were in
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.20/26

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  21. Round 3 (20min.)
    It’s a reunion with old friends
    Please share thoughts from the previous round in the first 5min. or so
    Everyone tells what happened at the previous table
    It is OK if you just tell the most impressive part
    This round is to try to summarize your business ideas
    Question for this round :
    Again, what is the core FinTech idea to ease the pain?
    How can people get involved in its implementation?
    How do you motivate and organize people?
    MOI (Motivation, Organization, Idea) model for making any social changes (by G.M. Weinberg)
    Focus on question / Proactively talk about your thoughts / Talk short and simple /
    Listen to others / Connect ideas / Write or draw more and more
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.21/26

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  22. Summary Round (10min.)
    Let’s share some outcomes and some of your thoughts
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.22/26

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  23. Well Done!
    Did you pollinate good ideas?
    Reference:
    http://www.theworldcafe.com/key-concepts-resources/world-cafe-method/
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.23/26

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  24. Assignment
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.24/26

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  25. Assignment 7. “Your Question”
    Name one question you have about what you learned in this class that you
    would like to share with your classmates
    Deadline and how to submit
    Janurary 17, 2023 at 17:59 JST
    From Moodle (mandatory) (Q & A Forum)
    Optionally, you can also post to #assignments channel at Discord
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.25/26

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  26. See You Next Week at the Classroom!
    Continue enjoying winter
    Take good care of yourselves
    Lecture 13 : FinTech Ideathon — FinTech — Financial Innovation and the Internet 2022 Fall — 2023-01-13 – p.26/26

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