Cellphone based Micro-finance a transformation at grass-root level

Dichotomy accompanies the process promising  human Emancipation

Technology fueling micro-economics proposes to promote transformations at grass root level. Most importantly such a development is expected to augment self-determination for the marginalized. But the lurking danger is, the technology vendors are the investors for whom nothing matters but the ‘profit’ alone. Inherently, such scheme of things is bound to lead into dichotomy in the good intended purpose in the context of progress. Especially that accented for the poorest of the poor. Hazarding this danger, there still exists respite and an opportunity for the marginalized to seek expedited financial assistance, while acknowledging that for every transaction that a poor person affects, there exists a percentage to be paid to the investor. Careful harkening is begged, when Shylock is in the business of opportunity. That means to extract ($$$$) pound of (for) flesh. Poor’s man predicament is rich man’s opportunity.

Nevertheless, after dotting the i’s and crossing the t’s; for the needy who can afford a cellphone and is in productive vocation, it could prove to be Upwardly Mobile!


Upwardly Mobile

India is the fastest-growing mobile communications market in the world. The rural poor are rapidly adopting phones, so the technology could become a platform for providing banking services. Sanjay Swamy, CEO of the mobile-payment platform mChek, talks about the potential.
Video by David Talbot Edited by JR Rost
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