Monday, July 11, 2011

The Future of Money... with caveats


As per mashable.com's informative article concerning mobile payment, PayPal may be right regarding the possible demise of the wallet in terms of how we pay for our stuff by 2014 if the article rings true regarding tech, smart-phones and the inevitable fact dollars are now bits able to be decimated to all parties equipped with the right hardware and connects to the web. Caveat: With digital currency, anonymity is but a fiction unlike the physical entity of cash.


PayPal seems to think so. The payments giant boldly predicts that the wallet will be dead by 2015. It’s putting its money where its mouth is: It recently acquired mobile payments provider Zong for $240 million.


PayPal isn’t the only one getting into the game though. Google recently launched Google Wallet, the search giant’s mobile payment system, and Visa recently made a strategic investment in Square, the mobile payments platform now worth more than $1.4 billion.


When reading this article, one player not mentioned is bitcoin, the possible disrupter of all things financial due to the fact there is no trusted 3rd party and it's already working on the net, able to be accessed on all platforms without problems using the free BC plugin. With bitcoin in play, the future of money gets really interesting if you know what I mean. To see BRTs take on BC, click here.

Note: Bitcoin took a quasi hacking hit but it will survive as the tech itself is sound.
"A taste for truth at any cost is a passion which spares nothing." - Albert Camus

Post a Comment