COVIDigitization: How to leverage the current global crisis?
The current situation puzzles many people and forces companies to look for new ways to solve the problems. Swiss media asked FCE Blockchain CEO Gregory Arzumanian about his opinion on current world situation and ways to overcome this crisis. Here is the English-language version of the publication.
My name is Gregory Arzumanian. I am the founder and CEO of FCE Group AG. This is my humble opinion on the causes of the current crisis, and how to harness it for our future.
Today the word "crisis" sounds everywhere. But what does it mean?
Ancient Greek κρίσις, originally, denoted "the turning point for better or worse in a disease." This simple definition depicts that crisis is a logical outcome of the disease. So, who is the patient and how will he be cured? How do we get through this disease and survive after the treatment?
The patient is our global economy. The cause of the disease is false priorities at the core of economic, businesses and social relations. The major priority is efficiency. But efficiency without sustainability leads to squeezing weak players to the economic and social boundaries, transforming them to marginals. Global corporations in the race for efficiency forgot that our planet is a home to 7.5B real people, not just consumers. We are parents and children, not suppliers and clients. We are brothers and sisters, not competitors or customers. Not anymore. We are all in the same boat.
The current crisis caused by the COVID-19 outbreak has demonstrated how fragile and vulnerable our world is in the face of global environmental issues.
Source: The major priority is efficiency
Source: The trust must be restored
Source: We are entering a new digital age
The trust must be restored to rebuild a broken global economy. Companies cannot expect trust without transparency anymore. This understanding will sharply increase implementations of digital technologies. IoT (Internet of Things) sensors will collect Big Data. Artificial Intelligence will analyze it, generate reports and propose planning. Blockchain will notarize trustworthy data and separate it from the rest.
We are entering a new digital age. Sustainability should be at its core. And above all, sustainable and responsible mindset.
We face a choice between future technocratic totalitarianism and digital social harmony. The choice is ours.