Chris Skinner's blog

Shaping the future of finance

“Necessity is the mother of invention”

Chris Skinner Author Avatar
by

I’ve never thought about it much but the saying:

“Necessity is the mother of invention”

… came back to me today.

This came back to me because I was reading an interesting description of what happened in 1815. Do you remember that year? Of course not, probably, but that was the year that an earthquake in Indonesia messed up the world. The Economist summarised what happened well:

A vast plume of dust and ash spread around the world, blocking out the sun and reducing global temperatures. In China, the cold weather killed trees, crops and water buffalo. In North America, a “dry fog” reddened the sun and there was summer snowfall in New York. Riots and looting broke out in Europe as harvests failed. Food prices soared and tens of thousands of people died from famine and disease. Horses starved or were slaughtered, as the high price of oats forced people to choose whether to feed their animals or themselves.

Back in 1815, horses were the only mode of transport. What to do?

Well, it led to the invention of the bicycle by Karl von Drais, a German inventor.

World War I saw major innovations from the creation of tanks to flamethrowers.

World War II, along with other innovations, created the computer. Leaders were worried about how to organise troops with no accurate weather forecasting, so they tasked a team to create a machine that could give them a better idea of tomorrow’s weather. The result was ENIAC, the Electronic Numerical Integrator and Computer, the world’s first programmable, electronic, general-purpose digital computer.

Every crisis creates innovation, because it has to.

Crisis is often discussed as opportunity and danger (which is not what it means in Chinese)

Every major moment in history has led to massive progress and innovation, due to necessity.

“Necessity is the mother of invention”

What will 2020 invent? What will change?

Here are five predictions from yours truly.

  1. 2020 will invent a new way of communicating that feels face-to-face but is not.
  2. 2020 will invent a new way of working that is no longer dependent upon humans travelling to cities.
  3. 2020 will invent a new way of exchanging value that no longer needs any human contact.
  4. 2020 will invent a new way of seeing the world virtually without leaving home.
  5. 2020 will invent a new way of thinking that will solve our climate emergency.

These are my thoughts anyway.

Oh, and not everyone agrees that “Necessity is the mother of invention”:

“I don't think necessity is the mother of invention -- invention, in my opinion, arises directly from idleness, possibly also from laziness.”

Agatha Christie ... 2020 should be a very inventive year.

GridFutureCategories
Chris Skinner Author Avatar

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...

What is the future?

Learn more

Learn more about Chris

About Chris Skinner

The Past, Present And Future Of Banking, Finance And Technology

Fintech expert Chris Skinner: countries need digital transformation to remain competitive

Join me on Linkedin

Follow Me on X!

Hire Chris Skinner for dinners, workshops and more

Learn directly from from one of the most influential people in technology, gain insights from the world's most innovative companies, and build a global network.

Chris’s latest book

Chris Skinner’s ‘Digital For Good’ Book Launch Event – CFTE

Top 50 Global Thought Leaders and Influencers on FinTech 2023

Chris Skinner
Commentator, CEO of The Finanser and best-selling author at The Finanser

Thinkers360 Thought Leader

Contact Me

Global Awards

Lifetime Achievement Award

Global 100 - 2024 Winner

Chris Skinner - Financial Markets Advisor of the Year - The Finanser - UK 2023

Best Financial Markets Advisor of the Year 2023

30 Best Regtech Blogs and Websites 2023

Kids creating the future bank | TEDxAthens

Captain Cake and the Candy Crew

Captain Cake Winner of a Golden Mom’s Choice Award

TWO-TIME WINNER OF A MOM’S CHOICE GOLD AWARD!

Alex at the Financial Services

Gaping Void's Hugh MacLeod worked with the Finanser