Socially Aware Finance at Innotribe, Sibos
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11th Sep 2011
This year Innotribe takes a closer look at social networks and the growing role of reputational trust and alternative currency in the new emerging macro-financial framework, with an overarching question about how we can work together to improve the relationship between banks and the communities they are supposed to serve.
It seems the answers involve the growth of pervasive digital identity and expanding intelligence around social data. Together, can these two components of the social web create new ecosystems that evaluate and facilitate credit and debt more fairly? How can they make banking better, and open access to opportunity to more people who need it?
Its no secret that socially aware finance is the next frontier for banking. Can risk be eliminated by banks choosing to lend partially on the basis of social graph information provided through context? Is there an emerging rudimentary 'social credit score' that takes into account a wider set of factors for how financial behavior is measured?
These sessions seek solutions to the endemic financial problems resulting from today's debt driven consumption model, but do little to change the core of how these ecosystems function. Yesterday's private bank debt problems are today's sovereign default scares, and the mix of quantitative easing and anemic growth leave us with fewer and fewer options. Alternatives must be found.
A wealth of speakers will gather to discuss these and other issues in Toronto. Hot statups like Peer Index, Cloud Inc., StockTwits and Bitcoin Consultancy will be joined by established players from Paypal, Microsoft, Harvard University, IBM, McKinsey & Co., and others.