when you think about it the most valuable young people in the world often practice by paying
or doing? this is true of sports, musicans, movie celebrities and it also turns out to be true of ociding and most human
applications of aritificial intelligence there is a reason for this - flow research by prof csik discovered that
people who impress others as wizards of geniuses are those who maximised the time they spent at the experiential edge
of their unique competence- this is alsomt exactly the opposite process of being examined in school round general standards
that in themselves dont make you uniquely creative and whenever they separate you also make you less able to collaborate
or serve in a team | when you think about the fisrt users of cashless money it was rich citizens
through credit/debot cards -one of the fits big uses of computing networks- when a chnage is made to everyday things its a
good idea to understand who pays- in the case of cards merchnats pay and you the end custometr pay (you pay a heck of a lot
if you take a loan on a credit card which happens if you delay paying and in the case of a debit card it is packaged into
the costs of having a bank account which ofetn depend on the minimum money you keep with the bank) if the first uses
of cashless money were to make the rich richer, it occurred to some people : will it ever be possible to design cashless money
to help the poorest- after all about a quarter of the world in 2000 did not have any banking services offered to them -maybe
they lived in places without electricity or in remote areas where it made no sense to open a bank - and certainly when they
tried to save and oft6en when they bought it was in small amounts- in the old days the papper book-keeping needed for such
accounting might even have cost more than the transcation so it is that when people who leapt from never having a phione
to a mo0bile one and having no electricity grids to solar (which could recharge essentaisl like mobile phones) cashless banking
became one of the greatest innovatiosn of ending povery- lets be clear abpout several processes here- we are talking about
how can a mobile phoe be even more useful than a card as well as what savings are there when people dont have to move paper
money around in secutory vans etc; some of tehse processes like wiring money (eg western union) had already been designed
but usually to make the rioch richer- just like people without banks had prevuously had to rely on loan sharks the priniples
of cashless banking are replace any bog banking process for the rich by transcations taht are owned locally as much a spossible
by merchnats and customers; transfre money mobile to mobile- if communities still find it useful to use cash then small last
mile merchants can be most economical for changing mobile credit bought back into local money- if every digital tracation
can be safely coded then there is almost no amount that is too small to include in digital transcations there is a relationship
between cashless banking and where communities have already been helped to maximise tehir onw self sufficoency on vital thisng
such as food sceurity or basic health services- perhaps it shouldnt surprise that where value chains had already been maximised
to value small local enterprsies the greatest opportuities of cashless baking has been seen - this is happeing in most of
the poorest parts of asia and has been led most spectacularly by women in china and bangladesh- everywhere there is a transparency
battle - will the next digiotal leap make local communities even more self sufficient on sustainability goals or will big
banks somehow takeover networks by and fir the poorest- |