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This is a big thing in emerging markets—in some countries, even the people who don't have food, power, or water infrastructure have cheap Chinese smartphone and
by basseq 11y ago
This is a big thing in emerging markets—in some countries, even the people who don't have food, power, or water infrastructure have cheap Chinese smartphone and ubiquitous 3G/LTE data. In there market's in particular, there's a pending shift for small businesses to move away from cash and to electronic payments, which opens up a whole 'nother world in terms of relationships with financial institutions, access to credit, etc.
- stephengillie 11y agoOn the other side of that whole 'nother world is a blockchain waiting to replace all of those relationships.
- basseq 11y agoNot really. The underlying currency—be it bitcoin, USD, yen, rand, or rupees—still requires lenders, payment systems, institutional agreements, and general technical enablement. At that point it's all 1s and 0s anyway.
- jarek 11y agoSpeaking of remittances and mobile, you can top up a Chinese mobile account from London. No idea how the fees are though.