Showing posts with label Mobile payment. Show all posts
Showing posts with label Mobile payment. Show all posts

Wednesday, June 24, 2015

The Money Is Not Actually Moving

Economic Growth and the Production Possibility...
Economic Growth and the Production Possibility Curve (Photo credit: Wikipedia)
If all money is digital, and if M-Pesa is the future, not just in Kenya but also in the rich world, and if the blockchain technology does to money moving what the Internet did to information moving, as in bring the costs down to pretty much zero, then the money is not actually moving, is it? You are just managing accounts, you are adding and subtracting.

And that digitization allows for a potentially massive increase in the velocity of money. If the same dollar exchanges hands 200 times instead of 20, that is a ten times increase in economic activity and hence economic growth. Moving money should be instantaneous and free globally. Just like when you send email, there is no lag. In the old fashioned ways, it can take days for money to move. There is no reason why it should be that way. That "lag" is a tremendous drag on economic activity.

Thursday, January 20, 2011

2011-2015: A Mobile Stretch

A photo of an iPhone 4.Image via WikipediaI have been talking in terms of five broad categories in tech: web tech, clean tech, bio tech, nano tech, fin tech. In web tech, the momentum clearly is with mobile. The next five years belong to mobile. Thanks to the mobile web the rest of the world does not have to wait. It is through the mobile web that the world finally gets to become one. The sizzle is amazing to watch. Like I say, the child is not a mini adult, not that there is anything childish about the mobile web.
ReadWriteWeb: Eric Schmidt: All of Google's Strategic Initiatives in 2011 are Mobile
A $50 Smartphone Running On Free WiFi
Steve Jobs: Android Rant
Fred Wilson On Android And HTML5
Twitter, FourSquare: Mobile Web Thingies
Is The Mobile Web In A Category Of Its Own?