http://moneymorning.com/2012/05/10/mobile-wallet-technology-will-make-you-rich/
Cash may be king, but the truth is no one has a lot of cash.
Cash can be lost or stolen and it's not traceable. Cash doesn't earn interest. Cash isn't convenient or conventional any more. And governments like it that way...
and THE gov't will not be in place until the economic order changes. That will begin with a WORLD DIGITAL CURRENCY!
Until 1945 the U.S. issued notes in large denominations. We used to
have $500, $1,000, $5,000, $10,000 and $100,000 (mostly used by banks)
notes. Not anymore - today the highest denomination is $100.
Besides the cost of printing and minting cash and problems of
counterfeiting, governments want to be able to trace money transfers.
Checks, wire and ACH transfers, credit and debit payments, and
e-commerce make it easier for governments to keep an eye on who's got
what, where, and who's paying taxes.
It's also a lot easier for governments and central banks to control the
"money supply" by controlling credits and debits rather than shelling
out and soaking up cold hard cash.
The U.S. isn't leading the way into the mobile wallet future, however. It's actually way behind.
Swedes only transact commerce in cash 3% of the time. The buses take
text-message payments and you can wave a mobile device at some church
collection plates there.
Over 50,000 merchants in the U.K. can accept payment from mobile wallet
users who merely need to wave their smartphones in front of stores'
NFC (near field communication) terminals.
And it's not just the developed world that's embracing mobile wallets.
There's an even bigger push towards mobile wallet commerce and
mobile-device person-to-person money transfers in the third-world than
in the developed world.
That's because there are huge numbers of "unbanked" people in
developing countries. The ability to "store" money and transact commerce
through a mobile wallet has huge advantages in rural areas where there
are few or no banks - or when bank fees are prohibitively high.
In Kenya, 14 million people, 70% of the adult population, use M-PESA (M
for mobile and pesa is the Swahili word for money), a mobile phone
banking application offered by Safaricom.
Can you invest in Safaricom, the country's largest mobile phone network
carrier? No, but you can invest in Safaricom's parent company,
Vodafone (Nasdaq:
VOD).
Whether mobile wallets are serving the unbanked or being used by
Italians whose government restricts cash withdrawals from banks to
1,000 euros at a time, the handwriting on the wall says: the sky's the
limit when it comes to mobile wallets.
Call it what you want but the hour soon approaches for the fulfillment of prophecy. Digital Currency will be a precursor to the MARK OF THE BEAST!
