Designing for the future of finance starting with small change

Last year, my focus was on achieving stability in family life, work, health, fitness, and mental clarity. Just a year prior, I had been working on a startup called Sugar, initially an Invisible Building project intended to evolve into a standalone company. Sugar Financial Technology aimed to merge FinTech with social elements, and through it, I developed a strong interest in building with Bitcoin from a design perspective.

I’ve had a long-standing interest in Bitcoin, and as I immersed myself in culture-driven spaces like the Clubhouse app, I learned about NFTs and the emerging Web 3.0 landscape. At the time, I was excited about the future of the crypto economy and the possibilities it held.

Now, in 2024, after the collapse of FTX and its ripple effects, the crypto landscape feels uncertain. These days, cryptocurrency rarely crosses my mind unless I see Manchester United training in their crypto-sponsored gear.

Why Bitcoin Stands Apart

Bitcoin’s distinction from Tezos or any other cryptocurrency lies in its open-source nature, dating back to when Satoshi Nakamoto mined the first block, known as the genesis block. This initial block included a notable phrase from The Times: “03/Jan/2009 Chancellor on brink of second bailout for banks.”

This Message from Satoshi Served Multiple Purposes

• Timestamp Proof: By using a specific news headline, Satoshi established a clear timestamp, verifying the block’s creation date and preventing any pre-mining.
• Political Statement: This message hinted at Bitcoin as an alternative to traditional banking, highlighting potential weaknesses and dependencies within centralized financial systems.
• Historical Context: The message anchors Bitcoin’s origin to a financial crisis, solidifying its purpose and vision as a decentralized solution.

Reading that newspaper headline today in 2024, I can’t help but draw parallels with current global issues—the ongoing cost-of-living crisis and other societal challenges.

The Vision for Sugar: Finance with Small Change

Inspired by today’s economic challenges, I developed Sugar with the idea of a digital tip jar, incorporating savings technology and social elements, powered by Bitcoin. My vision was to enable person-to-person transactions without traditional financial institutions, focusing on small exchanges and everyday interactions. This concept, “The future of finance starting with small change,” led me to Northern Ireland’s Catalyst Co-Founders programme, where I assembled a team to build Sugar. We reached the top 10, but unfortunately, we missed out on a 10K seed grant in the final round.

I’ll be sharing more about my journey with Sugar, Bitcoin design, and insights from the Co-Founders programme in future blog posts. Let me know if you have any questions or would like to learn more!