Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Monday, 17 September 2018

Peter : Can we expect this ?




In his latest blog ,




Peter Diamandis writes :







Beyond interest rates, a second failure of traditional consumer banking is that customers do not control how their stored money is invested by banks.


Meaning that your money could well be invested in the petroleum industry when you are in fact a die-hard environmentalist.


As the name implies, Good Money enables you as the user to choose how your stored money is invested, aligning it with your vision for humanity.


In Part Two of our  Future of Finance and Banking  Blog, we'll explore ,


·         how exponential technologies are impacting  investing and lending,


·         AI financial advisory services (e.g. Robo-Traders),


·         new stores of value (e.g. Bitcoin and Stable Coins), and a discussion on


·         how we might ensure that FinTech can be trusted in our rapidly accelerating future.


With the dematerialization, demonetization and democratization of financial resources, today is the greatest time in human history to be an entrepreneur — no matter where you live on planet Earth.




Peter,



Will your Part Two , support what I envisioned some 2 YEARS  ago , as follows :



A Matter of Time    [  03  Jan  2017  ]



Extract  :



Yesterday's Proverb  :   Necessity  is the Mother of  Invention


Today's Mantra        :   Competition  is the Mother of  Innovation



So , just wait to find out which Mobile Wallet comes up with the following " innovations " FIRST :


*  All bank accounts of a person ( in different banks ) become inter- operable / fungible
   through seamless interlinking , using Aadhar / UPI Interface in a Mobile Wallet

   No need to " select " a particular bank name


  
*  All transactions using a Mobile Wallet, automatically entered in  BLOCK-
   CHAIN  database commonly shared by ALL banks


  

*  Wallet based algorithm will  move funds across different bank accounts  for best yield ,
   constantly searching for best interest rates offered by banks on Fixed Deposits


   This will happen automatically , much like algorithm-based share trading , taking
   advantage of price differences in two bourses located 300 km apart ( in one thousandths
   of a second ! )


   No rocket science here considering availability of  BEST PRICE "  apps for thousands of
   goods and services


   And since computing power of mobiles are doubling every 18 months ( Moore's Law ),
  nothing will stop algo-trading through a Mobile Wallet , as well ! ( Demat A/C on
  Wallet ? )



17  Sept  2018




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