Money and its disappearance

For the past year I have been toying with a hypotheses on the disappearance of money as we know it. Credit cards, Travellers Checks, Demand Drafts are past story. Wire transfer is also becoming part of culture in many countries. Online transactions have also improved in the past 8 years.

Money which became standard currency to facilitate trade replaced direct commodity transfer or barter. With digitization, the form of money has lost value.

Salary is credited directly, loans and EMIs are paid directly based on Standard Instructions, Shares and MFs are bought and sold directly without any cash transfer. the list goes on.

Whats striking is that all this is happening without people noticing it. They are embracing technology as it happens than any evaluation per se. These are significant changes and would affect economics worldwide without anybody noticing it happening.

Having been head of Innovation in my company earlier on, I kept track of the Innovations on the money front. the financial crisis is now provoking many experts to mull over the idea of whether Cash is still king or something else could be done to prevent such crises. More on that later.

Last I heard, one of the worlds fastest selling product cannot be bought with cash. You definitely need a Credit card to buy in their stores.

You get it now.

MegaRegions

Part of my research focuses on changes in the Global business scene and its impact on strategy creation.

New research has emerged which could alter companies traditional approach to New Geography entry. Rather than nations, researchers suggest Megaregions or clusters of cities would drive how business is conducted worldwide.

To quote:
Megaregions — rather than nations — have become the natural units of the global economy. How is a megaregion defined? Tim Gulden at the University of Maryland's Center for International and Security Studies has used nighttime satellite images of the earth to identify "contiguous lighted areas" that include at least one major metropolitan area. Examples? The Boston-New York-Washington corridor and the Shanghai-Nanjing-Hangzhou triangle. Megaregions are the lit-up regions that produce more than $100 billion in goods and services. 1.2 billion people — 18% of the global population — live in the world's 40 megaregions. Combined, they produce 66% of the world's economic activity and 86% of new patents.
Something I am happy about "…… Greater Singapore is a classic city-state, whose population of 6 million (nearly 2 million of whom are actually across the border in Malaysia) generates a GDP of more than $100 billion. It has “willingly and explicitly given up the trappings of nation states,” Kenichi Ohmae writes about the country, “in return for the relatively unfettered ability to tap into…the global economy.” (Ohmae, 1993). The Bangkok mega-region is home to 19 million people, producing $100 billion in economic output."

you can read more at:

www.rotman.utoronto.ca/userfiles/prosperity/File/Rise.of.%20the.Mega-Regions.w.cover.pdf

Mumbai

Grief at what has happened. It should not have. But it did. Why ?

First Post

Have been blogging within the corporate for a few years. First step to blog in the Big Real world.