As part of a visit to Japan, the Dutch Fintech association visited Safecast’s offices for a session on data and innovation. Throughout both the initial presentation by Azby Brown and the subsequent conversations, it was clear that there is an overlap between Safecast’s approach and that of many of the fintech companies taking part.
For example, minimum viable product (MVP) development and hacking the status quo to create disruptive improvements are shared core DNA between the parties.
The group was at the Safecast office as part of a week-long visit to Japan to explore the country’s financial ecosystem and fintech potential.
During the visit, Azby presented the story of Safecast and the role transparency and sharing data have played for the organisation’s efforts from its beginning.
In the wake of the explosion at the Fukushima Daiichi nuclear power plant, a lack of access to accurate, reliable, and timely data created widespread uncertainty, fear, and confusion among the public. Misinformation and inadequate communication undermined trust in government institutions.
Safecast was formed by a group of like-minded individuals looking to find ways of recording radiation data that shed light on the actual situation in and around Fukushima, as well as elsewhere. The team was working against time pressure to find ways to record data at scale.
Such data is critical for individuals and groups for taking informed decisions, formulating effective responses, and mitigating risks. In essence, access to reliable data can make the difference between chaos and order during an emergency.
Safecast’s approach was similar to that of many technology start-ups. Focus was on creating an MVP version of Geiger counters and working through rapid iterations to improve the solution. Since the early days, Safecast has logged more than 200 million environmental data points across the globe. Our newest generations of Geiger counters, the “grandchildren” of the ones developed just after Daiichi, are GPS enabled and feature a wide array of state-of-the-art technology.
From early on, Safecast’s approach has been defined by open source, open data, crowd sourcing, and being independent, inclusive, and non-ideological.
“We consider ourselves as data activists,” Azby Brown explained.
The significance of access to data and trust in data extends beyond emergency situations. Trust in data is a fundamental component of a well-functioning society, as it fosters confidence in and for institutions, organizations, and individuals.
Many of the fintech representatives taking part in the event could see connections to their own industry space. Data is the lifeblood that informs investment decisions, credit assessments, risk management, and regulatory compliance. Trust in data is vital for both financial institutions and their customers, as it directly impacts the stability and integrity of the financial system.
Conversely, a lack of trust or transparency in data can have severe repercussions. The global financial crisis of 2008 serves as a stark reminder of how mistrust in data and opaque practices can lead to devastating consequences for the economy and society.
By fostering a culture of data access and trust, individuals, industries and society can reap the benefits of informed decision-making, enhanced risk management, and greater confidence in institutions.
Some of the responses from participants to the event included:
“It was a great pleasure to visit Safecast again this year and impressive to see how the organisation has grown!”
“Great achievement by Safecast, it started with limited resources, but they have managed to grow to a professional organisation”
“This is impressive and very powerful, they have proven that gathering data by the people makes sense and provides lots of insights which are useful for mankind”
“Safecast is a great example that collectice data usage does matter”
“Safecast managed to gather insights which were not available prior to their efforts”