Over the course of the last 21 or so years, that statement is arguably starting to ring true. There has been a massive transformation in the way we work, rest and play over that period. As consumers we bill gates bitcoin 2015 changed our behaviour dramatically and this has been enabled through the digitalisation of virtually everything we do.
2015 Gates Letter Overview: Read the 2015 Gates Annual Letter for full details. The letter is full of optimism and will help to drive the global agenda over the next few years. I must admit I have limited knowledge about some of the areas mentioned in the Gates Letter so in the interests of relevance, this post will highlight and reference some of the mobile banking and mobile payments examples. Collating the information in one place and having people like Bill and Melinda sharing awareness is absolutely huge. For example in May 2014, the Lancet Newborn health: a revolution in waiting shared details of low cost measures that can help save newborn lives. A Mobile Phone and Digital Revolution Is Happening The Gates Letter predicts that by 2030, 2 billion people who currently don’t have access to a bank account will store money and make payments using their mobile phone.
Why does Kenya lead the world in mobile money? Innovation in developing countries is disrupting the status quo and impacting many different areas of day to day life in those countries. Industries cannot ignore the disruption that is happening in other industries and countries. Mobile payments arguably rocketed in Kenya, but the repercussions of that initial project are now being felt globally.
Rather than seeing various initiatives as something happening in a remote country far away, banks should look out for opportunities to collaborate with corporates and local communities. Combining banking knowledge and influence and working with local expertise will surely highlight new ways of doing things. The Gates are laying down a challenge, and I’m guessing that banks particularly will be taking note. Banks are dinosaurs, they can be bypassed. Well that is certainly happening in some developing countries. The World Bank states there are 2. Its also worth noting that the issue of banked versus unbanked is not just a developing country phenomenon.
Developing world blazes trail for 2. Internal conflicts, political unity, corporate responsibility are key areas of concern. Clearly, there are huge challenges but also glimmers of hope. Through digital technology the world has become a smaller place.