XPrize and the power of Decentralized Innovation

Ephemeralization, Democtratization and Decentralization

Ephemeralization is a term coined by R. Buckminster Fuller and it refers to the capability of technology of doing "more and more with less and less". This becomes very apparent when we understand technologies like our smartphones, which have more processing power than the first rocket that went into space. Or if we look at global internet, you can do it with wireline by creating a massive infrastructure that connects continents through underwater fiber optic cables, or by satellite. This is a trend that unfolded and will continue happening, making particular technological outcomes cheaper and cheaper

This evolving capability of technology to bring better results with fewer materials and costs lead to the democratization of technology. If even 10 years ago, the power of technology was in the hands of governments and big business, this recently changed. Now even entrepreneurs or NGO's have access to an abundance of technological means and this is a game changer. Governments used technology for control and big business used it for building monopolies, but some entrepreneurs and NGO's use it for fixing real world problems.

The democratization of technology gives way to decentralized innovation, this means that solution can now be generated at a local level, addressing local problems. This is wonderful in so many ways because now we can generate social technologies that are designed to better human life.

The XPrize Foundation

Peter Diamandis is the founder and executive chairman of the XPrize Foundation, an organization that is designed to facilitate positive change in the world by incentivizing decentralized innovation. They start by defining a world-class problem that impacts billions of people, after that, they define a very clear and specific technological solution to that problem and put forward a very large monetary prize for whatever team or individual comes with the solution. Basically, it's a global innovation outsourcing effort designed to find solutions to things that really matter.

This is how they present the project in the about section of their website.

"XPRIZE is an innovation engine. A facilitator of exponential change. A catalyst for the benefit of humanity.

We believe in the power of competition. That it’s part of our DNA. Of humanity itself. That tapping into that indomitable spirit of competition brings about breakthroughs and solutions that once seemed unimaginable. Impossible.

We believe that you get what you incentivize. And that without a target, you will miss it every time. Rather than throw money at a problem, we incentivize the solution and challenge the world to solve it.

We believe that challenges must be audacious, but achievable, tied to objective, measurable goals. And understandable by all.

We believe that solutions can come from anyone, anywhere and that some of the greatest minds of our time remain untapped, ready to be engaged by a world that is in desperate need of help. Solutions. Change. And radical breakthroughs for the benefit of humanity.

Call us crazy, but we believe."

Some of the results so far

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Some of the ongoing project

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The future is better than we imagined

The XPrize Foundation is a working example of how the power of decentralized innovation can be used and directed towards social and humanitarian goals. This, combined with the ever-increasing efficiency and cost reduction of technology will bring forth a future of abundance in which all the worlds problems will be addressed in this manner.

And for the ending of this post, I really recommend watching this video.