Technological Innovation: By Any Means

“Fintech” stands for financial technology. Fintech is a growing industry, as are all other forms of business that incorporate technology. This is primarily due to the fact, that there is a Hegelian principle nested within the development of all technology that has been exponentially increasing since the dawn of the industrial revolution. That is the principle of progress and innovation by any means. Companies that do not comply with this scheme of increasing technological complexity will be left in the dustbin of the market. Creative destruction is unkind to those who are unkind towards innovation. The free flow of information is at stake, and any constraints upon that is heresy to the minds of silicon valley and its sympathizers, who are primarily in the field of STEM.

The question is: is this all necessary? Clearly, in many respects, we want innovation, as it has made our lives more convenient and has brought humanity a plethora of positives. World poverty rates are rapidly decreasing and much of what will constitute the growing struggle against climate change will involve improvements in technology and/or implementation of already existing technological improvements. Improvements in technology entail a higher quality of life for an exponentially increasing number of the ever-growing human population. The principles of humanism have undoubtedly been enriched by the…