The digital currency landscape is changing at a rapid pace, with Bitcoin reaching all-time highs and blockchain technology constantly evolving. In this dynamic scenario, it’s essential to reflect on the roots of innovation that have shaped our world. An apt story from British history springs to mind, illustrating the power of non-linear thinking, adaptability, and ingenuity.
Andrew MacKenzie, the Founder of Agant.io, a UK-based fintech company, shares his insight into the importance of embracing non-linear solutions during times of change. Agant is developing GBPA, a fully backed pound sterling stablecoin which combines open banking integration with robust UK regulatory standards. The goal of MacKenzie and his team is to build a platform that fosters trust in the digital currency scene, empowering users with a stable, compliant, and accessible digital pound for a wide range of financial applications.
MacKenzie draws parallels from the 19th century when British innovators faced a significant challenge: conventional methods couldn’t keep up with the rapid urbanization and technological demands fuelled by the Industrial Revolution. The solution lay in embracing unconventional, “non-linear” solutions which led to breakthroughs in various sectors, from railways to textiles.
Another historical instance of British innovation is the story of John Harrison, a self-taught clockmaker. In the 18th century, one of the biggest challenges for sailors was determining their longitude at sea. The British government established the Longitude Prize in 1714, offering a reward for anyone who could devise a practical solution. While many scientists pursued the traditional approach of refining star charts and lunar tables, Harrison saw the problem differently.
Harrison believed that the key to determining longitude was time. By knowing the exact time at a fixed reference point, like Greenwich Mean Time, a sailor could compare it with local time at sea to calculate longitude. With this belief, Harrison developed a new kind of timepiece—the marine chronometer—that revolutionized maritime navigation.
Harrison’s marine chronometer was designed to withstand the challenging conditions at sea. It was unaffected by variations in temperature, pressure, or humidity, resisted corrosion from salt air, and maintained its precision on a constantly moving ship. Despite facing skepticism and numerous setbacks, Harrison’s groundbreaking invention provided sailors with an accurate method to determine longitude, drastically reducing the risk of shipwrecks and bolstering the British Empire’s naval dominance.
This historical narrative resonates deeply with the blockchain innovation landscape, emphasizing the importance of challenging established norms and thinking differently. Traditional, linear methods often confine us to familiar paths, rarely leading to groundbreaking change. However, as our world evolves at an unprecedented pace, these methods can be limiting. Fields like the financial sector demand more than just incremental adjustments; they call for a rethinking of our approaches from the ground up.
Blockchain technology exemplifies this non-linear innovation. It has challenged conventional notions of trust and authority in transactions, introducing a decentralized model where consensus is achieved collectively. This shift has unlocked groundbreaking possibilities, from smart contracts and decentralized applications to completely new forms of asset ownership.
As we prepare to close out this year and look toward a new one, the stories of innovators like John Harrison and Alan Turing remind us of the power of non-linear thinking. British author and philosopher G.K. Chesterton once wisely stated, “The real voyage of discovery consists not in seeking new landscapes, but in having new eyes.” This idea resonates now more than ever.
As we enter the new year, innovation calls us to move beyond incremental improvements and pursue bold solutions that address both present needs and future potential. By embracing the spirit of past pioneers, we embark on a journey to discover, create, and collaborate without borders—and with fresh eyes to see what’s possible.
