Lessons learned
References
[1] Barber, S., Boyeh, X., Shi, E., & Uzun, E. (2012). Bitter to Better — How to Make Bitcoin a Better Currency. Lecture Notes in Computer Science Volume(7397), 399-414.
[2] M. Peck. Bitcoin-Central is Now The World’s First Bitcoin Bank...Kind Of. IEEE Spectrum: Tech Talk, Dec. 2012.
[3] Rogers, E. (1995). Diffusion of innovations (4e ed.). New York: Simon & Schuster inc.
[4] Bower, J., & Christensen, C. (1995). Disruptive Technologies: Catching the Wave. Harvard Business Review, 43-53.
Coming up with an innovation is no easy task. Mistakes were made and so here is a small article about what could have gone better and what we have learned from this experience.
Being Master students, nearing the end of our study we were fully mindsetted on writing scientific articles. But for this course we were given the task of coming up and describing an innovation ourselves but not in a standard research paper format. This gave some problems because the format for an e-magazine is less formal than a paper. Another problem regarding innovation is the lack of research, when you have something new in mind which does not exist yet, research is often scarce. So we had to shift our mindset and let our creativity loose. Thanks to an exhaustive planning we were able to divide and plan the assignment. But a common problem for students arises: multiple deadlines, committee work and internships posed a challenge on our planning. Another point of notice is the legal works around banking. We have insufficient knowledge to be able to conclude wether our innovation is legally allowed.
At the end we are pretty satisfied with the result. We believe not much could have been changed for the better if we had to do it again.
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