When mainstream measures fail: an ethnographic approach to ‘Innovativeness’ in rejected arenas

Abstract

This research note calls for an alternative approach to understanding ‘innovativeness,’ particularly in arenas like Decentralized Finance (DeFi) where participant perceptions clash with mainstream evaluations, often leading to their dismissal. When conventional metrics fail to capture the perceived value and groundbreaking nature asserted from within these communities, there is a pressing need to explore their distinct ‘cosmologies’ or internal logics. This paper argues for the importance of investigating these alternative meaning systems – how value and innovation are defined and experienced by participants – rather than solely relying on external measures. It posits that a deeper engagement with the ‘native point of view’ in such ‘rejected arenas’ can yield crucial insights, not only for understanding these specific phenomena but also for challenging and enriching our broader conceptions of innovation. This note serves as a call to researchers to undertake such explorations.