6A – Identifying Opportunities in Economic & Regulatory Trends

Economic Trends-

1. Bitcoin apps

A) https://howmuch.net/articles/worlds-money-in-perspective

B) Recently, Bitcoin and other cryptocurrencies have been booming. This sudden rise in bitcoin investment comes from innovative minds creating currencies that help foster economic growth, and ultimately provide consumers ways to invest and make money. With the surge of popularity bitcoin has received, there should be a way to invest and manage your funds on the go.

C) the prototypical customer for this opportunity would be anyone who invests in Bitcoin or other cryptocurrencies.

D) The opportunity does seem a little difficult to exploit, due to the fact that I would need guidance on the app creating process and how to input bank accounts, etc

3) I think I formed the belief that this opportunity exists because many of my friends and peers are involved in the bitcoin and cryptocurrency markets and always seem to be bringing up their big computers to research and invest, when they could be doing the same thing on an app or something similar that allows them to do this on the go.

2. income Inequality

A)  https://www.weforum.org/agenda/2017/09/global-competitiveness-report-2017-trends/

B) With the rise of the fourth industrial revolution, middle class jobs are being taken away and being replaced by either global competitors or technology. With this information, I think there is an opportunity for middle class workers to get involved in jobs that aren’t going to be affected by either of the replacements.

C) Middle Class citizens in advanced economies

D) This opportunity is quite broad, for the number of middle class citizens is not only growing but large already. What this opportunity could present is a way to inform these middle-class citizens about how they can avoid detrimental changes and loss of jobs. This could be through a conference or presentation that could provide them with tools or opportunities they could take advantage of in today’s growing technological market.

3) I believe this opportunity exists because my parents have been going through job search trouble, trying to find markets where they can fit in without fearing they would be replaced by global competition or even technology. While not all people experience this, many would benefit from opportunities that remove them from potential danger and include them where they can make a profitable living.

Regulatory Trends-

1. Mobile Payments – places that don’t have them. use venmo, etc

A) https://www.mobilepaymentstoday.com/articles/how-amazon-go-changes-the-customer-experience/

B) In today’s expanding technological market, people are always on the go. This pace that we live by encourages less wait and more productivity. Being said, mobile payment systems are on the rise. Rather than waiting in a line to pay for products, simply grabbing the product and paying through a smartphone or online makes things very easy and fast. Many companies have realized this and have shifted their attention to mobile payment apps, but many also fall behind.

C) Businesses that lack app assistance and mobile payment technology

D) I don’t think this is an opportunity that is overlooked by smaller businesses, of course they see the rapid changes of today’s society. I just think if there was a simple, easy to use app that allows for mobile payments. This will translate to more sales for stores that don’t see the income that Amazon or other larger retailers see, while also bringing to light the new technology that many live by today.

3) I believe this opportunity exists because I have seen Amazon start to take over by capitalizing on the technological advancements of society. If more small businesses started to use this type of technology, I think they would have more success.

2. Data Security – Privacy (facial recognition- banking apps)

A) https://www.kairos.com/blog/face-recognition-and-the-future-of-security

B) After the release of the new IPhone X, which allows you to unlock your phone simply by looking at it, there are now opportunities to incorporate facial recognition technology into other aspects of society. One opportunity that I thought would be useful is for banking apps. Sure, accounts have passwords, but there is nothing that would prevent no other person from logging into your account more efficiently than facial recognition.

C) A prototypical customer would be anyone and everyone with a bank account

D) I think this opportunity would be relatively hard to exploit because it involves facial recognition technology that nearly everyone can’t afford, but if there was a way to make it affordable, it could be a huge help to data security for banks across the world.

3) While this opportunity may seem out of reach, with the help of investors and banks themselves, I think that facial recognition could nearly replace passwords within the next 20 years. Facial recognition leaves nearly no way to ‘hack’ or get into someone else’s private information.