04 December 2008

Changing the World with a Cell Phone

Most people are now familiar with the concept of micro-loans and what an incredible impact they can have on communities in the developing world.

One major hurdle still to be overcome is the lack of banking outlets in those same communities, resulting in a lot of cash transactions, with all the associated hassles and risks.

Add inexpensive cell phones and simple mobile banking technology to the mix and we now have the power to accelerate major change for those same communities.

Check out MIT Technology Review's "Upwardly Mobile" and You Can Hear Me Now, by Nicholas Sullivan, for more information on how this seemingly small innovation could transform rural and developing economies.

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