I am tremendously grateful for the opportunity of this study trip. I fully enjoyed every single day and learned a lot from every single event. In this reflection, I want to focus on three topics: doing startups, blockchain, and doing group projects.
Doing Startups
Coming from a background in social service and NGOs, the realms of startups and the business world have always felt unfamiliar to me. In fact, I have harbored strong doubts about the compatibility of addressing social issues with a business mindset, questioning whether it is possible to help people and make profits simultaneously. These doubts surfaced frequently during the development of our group project idea. In my view, once the need to generate revenue arises, the individuals benefiting from the initiatives cannot be the most vulnerable, but rather those with less urgent needs. Additionally, pursuing activities with significant externalities becomes challenging – the case of the Korean blockchain vaccine pass comes to mind, as their primary focus was on public good rather than financial gain, resulting in zero revenue for the project.
This trip made me much more accepting and optimistic of the potential of businesses. The core of it is that I now see how technology can have a revolutionary impact in leveraging limited resources to maximize social impact. A standout moment was during the visit at the Korea Institute of Startups and Entrepreneurship Development (KISED). I was particularly moved by the middle-aged man who delivered a passionate speech about using technological innovation to tackle various social issues in Korea, such as population aging. He emphasized the importance of weighing the costs and benefits of attracting startups in terms of overall social impact, highlighting why the Korean government is heavily investing in innovation despite potential short-term losses. Unlike policies like increasing public welfare, which strain resources, investing in technological innovation offers a more sustainable approach. Attracting startups is also particularly advantageous because they typically start by tackling local issues before scaling. Therefore, the benefits they create are also localized. In addition, I was also particularly impressed by the model of 甘樂文創. They focus on assisting a highly vulnerable group of individuals – children from troubled families – by creating a nurturing environment and harnessing their own resources. While they heavily rely on donations, many aspects of their operations are self-sustaining. Moreover, their impact extends beyond helping children to revitalizing the entire community.
On another note, as a geography student, I am intrigued by how companies select their locations and communities develop strategies for economic growth. Both KISED and 甘樂文創 serve as excellent examples of attracting business and residents by capitalizing on the strengths of their respective locations. For KISED, when I asked why a startup should choose Korea instead of Japan or Taiwan, the man brought up Korea’s coffee workplace culture, where people can ask for a free cup of water and enjoy the space. One evening, when I was touring Seoul by myself, I came across a bookstore with many seats in a metro station. To my surprise, no purchases was required to occupy the seats and read. Such environment is indeed very attractive, and has inspired me to do more research in how such environment come about, how effective it is in attracting talents and promoting innovation, and how sustainable it is for the small coffee businesses. Regarding 甘樂文創, their focus on promoting tourism with an emphasis on meaningful engagement with visitors left a strong impression on me. I found their approach to be creative, purposeful, and sustainable. However, I raised concerns with the guide about the potential issue of excessive tourism overwhelming the local economy and ecosystem, a common challenge faced by villages seeking economic revitalization through tourism. The guide explained that Sanxia could mitigate this risk by leveraging its historical status as a tourist destination and ensuring the availability of infrastructure to accommodate visitor influx. He emphasized the importance of each location evaluating its unique circumstances before devising a strategy.
Blockchain
Entering the class with minimal knowledge and a sense of intimidation towards blockchain, I found myself struggling to grasp the complexities of this technology in previous attempts to learn about it. Therefore, I am especially thankful for the insightful debrief session I had with Linda, Jeffery, and (most importantly) Brady after the TempoHouse presentation, where they patiently answered my questions, no matter how basic they seemed. The talk itself was fascinating on various fronts, shedding light on how blockchain and cryptocurrency can facilitate criminal activities, the challenges in tracking and regulating this technology, and the relatively low percentage of individuals engaging in illicit activities, as emphasized by a lawyer at the beginning of the session. As an outsider to this field, I find it intriguing how individuals with limited understanding place their trust in something as intricate as blockchain.
Based on my current basic understanding, blockchain can be viewed as a set of encryption rules that can be designed for various purposes, with individuals who agree on these rules and their advantages coming together to participate in running the chain by ensuring the accuracy of blocks. This decentralized approach eliminates the need for a central authority to secure the chain. Each blockchain corresponds to a specific cryptocurrency or coin, which serves as an incentive for participants to act honestly. The value of some cryptocurrencies is determined by supply and demand, while others remain stable by being pegged to other currencies or financial instruments. The advantages of trading through blockchain technology include promptness, absence of transaction fees, and favorable exchange rates for international transfers. At this stage, without any real experience, the concept of blockchain still appears somewhat like a game to me. However, I am beginning to comprehend why many people are very passionate about it. I bought Read, Write, Own by Chris Dixon in Taipei, which I hope will give me a more thorough understanding of blockchain.
Doing Group Projects
The group project in this class has been a significant catalyst for personal growth for me. I think the task is challenging for all of us and nobody have enough knowledge or experience to have a definite say on what to do. Meanwhile, the diverse backgrounds of our group members led to frequent disagreements. Personally, I hold strong opinions and refuse to commit to something I disagree with, yet I am open to changing my stance if provided with compelling evidence. It became apparent that my group members shared a similar approach, resulting in decisions requiring a consensus rather than a simple majority vote. Frequently finding myself as the dissenting voice prompted deep reflection on my own biases, especially my deep doubt for making profits (explained above) and, later, uneasiness of being monitored by AI. I also learned to express my concern in a less aggressive manner, and trusting others in areas that I don’t really understand. Overall, I’m glad that despite serious conflicts, our group has developed a harmonious and respectful relationship with each other. I see unique and admirable strength in each of the members, and working alongside them has been a fortunate and invaluable experience.
