Monday, April 6, 2015

Mobile Money

I found the article by Kusimba to be particularly interesting, as  I was not aware of the usage of this sort of mobile currency in developing areas. The article overall seems to reflect that the author believes this type of currency possesses some promise and could be used for helping provide "banking" type services for those who otherwise may not be able to access a bank. It does provide a type of quickly transferable currency that is safer and more efficient. There is also a noticeable social aspect to this currency as it has become a new means through which people gift each other money and exchange to those who may be far away, such as family members in America. This interconnected network of giving is quite complicated, however, it is a means of establishing a sort of "credit" system quickly and effectively.
My final paper is discussing the issue of development in parts of the world, and proposes possible solutions. This could serve as a possible system to work into many developing nations as banking and credit are difficult to establish in certain parts of the world, however, any other form of exchange is too slow or inefficient to keep up with the present market. There is also the added bonus of allowing people to stay connected even when they are separated by an ocean.The only reservations i would have with this system is possibly leaving a population of people in the process of rebuilding vulnerable to any type of exploitation. Since the currency itself is simply lines of code there is no tangible proof of its existence and that does concern me when it is being used by people who have historically been exploited by nations and companies in the global north.

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