Sunday, May 29, 2016

a slippery slope

If a presidential candidate can spend 12 minutes to lambaste and humiliate a federal judge who presided over Trump's legal case, it portends a slippery slope of the democratic system. 

http://time.com/4351376/donald-trump-university-lawsuit-gonzalo-curiel/

To buy a cow by clicking buttons without a bank account

U.S. has the Silicon Valley while Kenya has the "Silicon Savannah". It takes years for Taiwan to adopt the 3rd-party payment. In Kenya, most of the 23-million people don't have bank accounts but 90% of them use basic cell phones to pay bills for any thing. It ranges from paying taxi drivers to roadside peddlers, or even buying a cow simply by clicking a few buttons on the cell phones. Reason for this sweeping success and popularity of electronic payment even without a bank account: Kenya government is bold enough to brush off the lobby from the formidable bank industry.
http://www.cbsnews.com/news/future-of-money-kenya-m-pesa-60-minutes-2/

Monday, May 2, 2016

disruptive innovation

Stripe, a payment processing company for Apple Pay, Android Pay and Alipay, was founded in 2010 by a Harvard dropout and a MIT dropout. Now, the company's market value surges to $5B. With the burgeoning and booming fintech, some of the coveting jobs in the banks may vanish into thin air in the near future.    http://www.cbsnews.com/news/fintech-shaking-up-the-financial-industry/