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I think you're right that this is the dynamic at play here. It is similar to the dynamic by which many regions have leapfrogged landline telephones, skipping th
by netcan 9y ago
I think you're right that this is the dynamic at play here. It is similar to the dynamic by which many regions have leapfrogged landline telephones, skipping the older more infrastructure/capital intensive version of technology.
The developed economies were already mostly "cashless." Very little cash has run though most malls, hospitals, schools or even supermarkets for decades already. "We hqave something good enough" is definitely at play.
That said, we need to keep in mind that financial transactions has been close to an airtight oligopoly for a long while. 2 CC companies have run the show for decades. They have very deep "moats" with spikes and crocodiles. One of the big one is the strict regulation, which heavily favours established incumbents.
It's yet to be seen whether China (+India, etc.) will develop a dynamic market for financial services in their cashless economies, once the dominant services become established and entrenched.
- lostboys67 9y agoThat's because they are poor countries as well as its harder for people / insurgents to nick the copper. Mobile is never going to be as good as FTC (Fiber To CAB) in terms of bandwidth BTW used to work for a company that did telecoms consultancy in Africa and in Angola they preferred microwave for trunk links as it was harder for the rebels to damage.to
- em500 9y ago> The developed economies were already mostly "cashless." Very little cash has run though most malls, hospitals, schools or even supermarkets for decades already. Cash share of payments in Germany and Austria (by volume) were still >80% just a few years ago, see p.38 of https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1685.pdf https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1685.pdf
- netcan 9y agoIncluding salaries, rent, mortgage payments...?
- deleted 9y ago[deleted]