Truth Frequency Radio

Sep 11, 2015


September 11, 2015  frameworksbali

Back in the early internet days when data moved at 14.4 baud and 800 X 600 black and white images were literally shot from  a electron gun through a vacuum tube and into your eyeballs at an retina blistering refresh rate of 50hz.  I doubt anybody could have predicted the role the internet would play in society today. However fast forward 20 years and here we are. Internet 2.0 HTML version 5.  We have Uber, Snapchat, Google, Facebook, Twitter,  Instagram and Pinterest. All completely un tethered from a physical phone line and carried around with us in our pockets.  We can share a photo with friends and family, search efficiently for news and information and even stream full HD movies on demand to large LCD panels in our own living rooms.  I think when one looks back to our era from the next century the two most disruptive inventions will be the Internet and the mobile device.

Banking was one of the first industry’s to react to the take up of the Internet and mobile devices. According to a Report Released by the Federal Reserve in 2014.

• The ubiquity of mobile phones is changing the way consumers access financial services

—33 percent of all mobile phone owners have used mobile banking in the past 12 months, up from 28 percent a year earlier —51 percent of smartphone owners have used mobile banking in the past 12 months, up from 48 percent a year earlier —12 percent of those mobile phone users who are not currently using mobile banking think that they will probably use it within the next 12 months —The most common use of mobile banking is to check account balances or recent transactions (93 percent of mobile banking users) —Transferring money between an individual’s own accounts is the second-most common use of mobile banking (57 percent of mobile banking users) —38 percent of mobile bankers have deposited a check using their mobile phone in the past 12 months, up from 21 percent in 2012

But what about other more disruptive services.


In 2009 a little company was started called  “UberCab” by Travis Kalanick and Garret Camp. Later in June the same year they released an app for mobile devices, Beginning in 2012, Uber expanded internationally and In 2014, they experimented with carpooling features and made other updates. By mid-2015, Uber was estimated to be worth over $500 Million Dollars. Recently The legality of Uber has been challenged by governments and taxi companies, who allege that its use of drivers who are not licensed to drive taxicabs is unsafe and illegal.  It fairly obvious that Uber upset some fairly entrenched financial interests but the market being what it is I doubt we will see Uber going anywhere but faster better and operating in even more countries.


Airbnb is a website for people to list, find, and rent lodging. It has approximately 1,500,000 listings in 34,000 cities and 190 countries. Founded by Brian Chesky,Joe Gebbia and Nathan Blecharczyk in August 2008. Air BNB completely circumvents large hotel chains and loyalty programs in favor of a more personal experience where people can share a spare room.  It initially got started when roommates Chesky and Gebbia could not afford the rent for their loft in San Francisco. They made their living room into a bed and breakfast, accommodating three guests on air mattresses and providing homemade breakfast.


Some people love it and some hard money buffs hate it. Regardless of your point of view Bitcoin broke onto the scene in the wake of the 2007-2008 financial crisis. I have followed it for years. On the surface it seems like a fantastic way to circumnavigate the current monetary paradigm of money supplied by central banks and the high transaction fees for transferring money across boarders. Bitcoin was invented as a peer-to-peer system for online payments that does not require a trusted central authority. Since its inception in 2008, Bitcoin has grown into a technology, a currency, an investment vehicle, and has a wide community of users all over the world. What is very interesting for me is the ability to store your bitcoin in a virtual wallet and carry it with you on your mobile phone.

So much more that I could talk about today but i have run out of time.  All this innovation over such a short period.  What do you think the next game changer will be for technology, inter-webs and gigabyte computer chips?

Have a Great Weekend.

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