First Cashless Society - In Somaliland?
Tiny Somaliland, an unrecognized country in the Horn of Africa, has 3.5 million people, 53,000 square miles and runaway hyperinflation. Take a look at this picture of some money changers with their bricks of cash.
(Somaliland money changers with bricks of cash)
For every dollar there are almost 17,000 Somaliland Shillings and the highest-denomination note is 500 Shillings, which is by no means the most common note in circulation. Money-changers sit within self-built stacks of money (picture left, video below) and children take wheelbarrows of it from one place to another...
A significant diaspora send American dollars home by using Dahabshiil, an African version of Western Union that is extraordinarily efficient... Selesom, the major mobile carrier has launched a service where cash is completely bypassed...
The diaspora will continue to wire money home but the recipients will no longer need to go to a bank or visit the money-changers.
They will only need their mobile for all transactions...
SF fans have seen cashless society idea before. The earliest exact reference I know about from sf (or anywhere else) comes from the prescient 1965 novel The Age of the Pussyfoot by Frederik Pohl. In the novel, the joymaker (a combination PDA, cellphone and information network browser that is still way ahead conceptually of Apple's iPhone) can be used to make purchases:
To use your joymaker as a credit card: You must know the institutional designation and account spectrum ...
(Read more about Pohl's cellphone credit card)
Learn about more ways to pay with your cellphone. Via Techcrunch.
Scroll down for more stories in the same category. (Story submitted 9/5/2010)
Follow this kind of news @Technovelgy.
| Email | RSS | Blog It | Stumble | del.icio.us | Digg | Reddit |
you like to contribute a story tip?
Get the URL of the story, and the related sf author, and add
Comment/Join discussion ( 0 )
Related News Stories -
Save Your Brain's Connectome, Upload Yourself Elsewhere
'You've got remote storage. How regular is the update?' - Richard Morgan, 2003.
TMS Decreases Belief In God, Increases Belief In Immigrants
'... Setting up the same currents, the same basic ideas, in them all.' - Edmond Hamilton, 1938.
Blockchain Used To Verify Election Results
'Any adult could punch into the phone his or her code, followed by a yes or no.' - John Brunner, 1975.
We Could Downgrade Puerto Rico - And Thereby Save It
'It was cheaper to pay the refugees to go without up-to-the-minute equipment.' - John Brunner, 1976.
Technovelgy (that's tech-novel-gee!)
is devoted to the creative science inventions and ideas of sf authors. Look for
the Invention Category that interests
you, the Glossary, the Invention
Timeline, or see what's New.
Las Vegas Humans Ready To Strike Over Robots
'A worker replaced by a nubot... had to be compensated.'
You'll Regrow That Limb, One Day
'... forcing the energy transfer which allowed him to regrow his lost fingers.'
Elon Musk Seeks To Create 1941 Heinlein Speedster
'The car surged and lifted, clearing its top by a negligible margin.'
Somnox Sleep Robot - Your Sleepytime Cuddlebot
Science fiction authors are serious about sleep, too.
Real-Life Macau or Ghost In The Shell
Art imitates life imitates art.
Has Climate Change Already Been Solved By Aliens?
'I had explained," said Nessus, "that our civilisation was dying in its own waste heat.'
First 3D Printed Human Corneas From Stem Cells
Just what we need! Lots of spare parts.
VirtualHome: Teaching Robots To Do Chores Around The House
'Just what did I want Flexible Frank to do? - any work a human being does around a house.'
Messaging Extraterrestrial Intelligence (METI) Workshop
SF writers have thought about this since the 19th century.
Nanorobots Roam Your Bloodstream, Cleaning It
Too bad they won't have lasers, though...
Galini 3D Printed Sleeping Pod Tiny Houses
'The houses are prefabricated units...'
MIT Boffins Create Psychopath AI On Purpose
There's a lesson in this for neural net AI engineers everywhere.
Skin Electronics 3D Printed
'June's body is a tracery of lambent lines, like some arcane capillary circuitry...'
Artificial Sensory Neurons For Prosthetics, Robots
Great for humans and robots!
China Uses Artificial Intelligence To Grade Student Papers
Looks like the City Fathers are starting to take over China's education system.
Electronic Tongues Will Rule The Kitchen
'Install taste buds in the end of one tentacle...'
More SF in the News Stories
More Beyond Technovelgy science news stories