So that was Boston. That was hearing Bill Gates talk about delivering financial services to the unbanked via their mobile phones.
And a lot else besides. But all the rest of it - another time.
The unbanked - the exceptionally poor, with no credit records and hardly any money - can't get into the banking system because they can't give satisfactory answers to any of the "know-your-client" questions that banks are obliged to ask these days. So they can't put money in the bank. Or borrow from banks.
But they do have phones. Mr Gates' suggestion is that banks could develop very simple savings accounts, phone-based, that could be exempt (because they're so small) from all that fandango about producing ID and a utility bill, yada. Fine notion, and I'm in favour. I like the thought that the Bill & Melinda Gates foundation has the clout to make it all happen.
IT is pretty reliable nowadays, and although I suppose we have to acknowledge the occasional eccentricities of the average (smart)phone, and the tendency of wifi connections to be slow or to drop completely, and the whole thing about losing your phone, dropping it, forgetting to charge it,* this could be real. Check this out.
Come on - let's be optimists.
*And all the things people say about regulators. And banks.
What happens here
This site is updated weekly, usually on a Friday although I might change that (again). I write it because (1) I like writing it and (2) I like having a deadline. More often than not, it works out as a commentary on the week just passed*.
There are no ads, no pop-ups and no tricky business with cookies. I don't take money for my own opinions. [Except when they come out in book form.] I write this for myself, without a set agenda, on any subject that catches my attention. If you're interested enough, it's not hard to work out my interests. Not impossible, anyway.
*Although I seem to have gone away from that recently. Normal service may or may not be resumed.
No data is kept on this website overnight. Blog posts are usually shared to my Facebook page. We can discuss them there if you feel so inclined.
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You found me!
Welcome. Thank you for coming. But am I the right
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to meet some more.
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