The so-called developing world is leapfrogging the developed world in digital payments and digital finance. The posterchild is African mpesa but this is anothe

The so-called developing world is leapfrogging the developed world in digital payments and digital finance. The posterchild is African mpesa but this is another example. Also Brazilian nubank is considered the only successful fintech startup. There is a point of pride and hope ofcourse, exporting API's rather than strip mining the land. Also some lessons of how established financial systems are the definition of ossification and rent extraction so zero incentive to evolve. But ultimately will all the new gadgetry help local economies thrive? This is not going to happen just because you have great "UX". Modern development at the service of old and disastrous economic ideas will only reproduce a faster, updated version of the existing system.