Payments are Changing, Across the World
The Digital Wallet
Payments are Changing, Across the World
The Digital Wallet
Consumers are embracing the digital wallet. This is more than just carrying funds; you can store your credit cards there and a variety of other services. Wallets are catching on faster in some countries than others. The US has been slower, as credit cards are so well established, and there is so much legacy infrastructure in place. In other parts of the world, wallets are taking off.
There are over one billion people in the world who have no bank account, no credit cards, and for many not even a government ID of any kind. They are called the unbanked; there is considerable need among the unbaned for ways of managing money, of being paid, and of paying bills. Many companies are jumping into this growing market; one of the best is PayTM, which has over 400 million users now in India - and is growing internationally as well.
CryptoCurrency cannot be directly spent at the cash register; it is incompatible. So the digital wallets for CryptoCurrency have other methods, typically a real-tie conversion of the digital currency to cash, just enough to cover the transaction. While this works, its not clear if the model will scale. However, we have a patent that would enable spending CryptoCurrency directly at the cash register - with no wallet cash-conversion needed - and our model becomes more efficient ,as the network gets larger.
In the USA, direct payment via apps is more common than a full digital wallet. The most popular payment app is the Starbucks app, and it works very smoothly. Starbucks has done a good job; they ought to license out their wallet model to other companies, or even better make their own standalone payment app, and let other companies simply use it - creating a payment network. This could have a lot of advertising potential, as well as a convenient (and painless) way to collect demographics.
The Future of Payments
it is reasonable to assume there will be more digital wallets created, and probably many more payment apps. Already we are seeing improved security in international payments, which should continue to get better - and faster. In the long term the industry needs better tools to help people manage their spending, help people plan for the future, handle taxes when due, consolidation of the digital wallets as one standard emerges, and decide on the future of CryptoCurrency.
Late-Breaking Local News
Late-Breaking news is what everyone wants to see, and it can be even more interesting when it is local late-breaking news. The national news feeds of the major news media are sometimes rather similar.
But local late-breaking news is different for every city. So we decided to do an experiment, on our site LateBreakingNews.com, and focus on local news.
Now you an compare four different news feeds for one city (New York) to see a snapshot of that city at any moment in time; or you can compare four differernt cities in the US, four different news feeds for US National News, and finally four different news feeds for global news media.
Checkout LateBreakingNews.com today!
Fast Hardware Enables Better Emulation
There are several kinds of software emulation. One type is the classic emulation of an older system, by a newer and much faster system - such as a modern Windows computer playing games from an Atari. Soimetimes people just rewire the code, with the aid of software tools when possible; but when the hardware is fast enough, you can just interpret each command and run it in the new system.
Another type of software emulation is modeling, where a piece of software emulates a machine or an animal or a brain process.
When a software emulation is good enough, you cannot tell the difference from the original.
Years ago (before the Internet), there were private and independent networking companies. I worked for one of them, called Tymnet. Tymnet did all their own hardware and softare; but the hardware was outdated, and so the company put much of its resources behind a new hardware design - which failed. At that point there was a lot of concern. But a small group of us suggested that we move to a new hardware platform: industry-standard boards, based on Motorola 68K cpu's. That way, as those boards evolved (in speed, and size of memory) then we would gain abilities right along with it.
But to run our in-house software, on a different hardware platform meant we had to create a software emulator: it interpreted our old code, in real-time, and ran it on the new hardware. This including simulating Registers, which was quite a big slowdown. Nevertheless, it all worked - and Tymnet moved to the new platform, called Turbo Engine Nodes (described in Wikipedia). So that problem was solved - though, competing with a new network (called, the internet) proved a much bigger challenge.
Evolution of Software
For a time, people believed that human programmers would not be as needed, once machines started writing more code, doing more simulations and software emulation. But the last few years have shown that human coders are needed more than ever, partly because there has been such a proliferation of environments, number of machines, and capabilities of hardware.
It was also believed that the greatly increasing complexity of CPU's and chips meant that fewer and fewer companies would do their own hardware - but this is also changing. Now that there are so many people with expertise, and so much outsourcing possible, companies have more opportunity to do their own, sophisticated hardware - and Tesla's new AI chip for self-driving cars is a great example of that. You can learn more about emulation in Wikipedia.
The Future of Software Emulation
Hardware can be made incredibly fast. It is going to be more and more common that any system can run other code, if someone bothers to adapt it - or to emulatie it. People might prefer one OS over another but particular apps can be made to run in other environments with relative ease. There are more and more tools to make this possible. It is even possible someday that we will see a software emulator created, to run another (older) software emulator - to make some very old code still viable.
One thing is for sure - human programmers will have jobs for a long time to come, and haing some skill at coding - even if just for scripts - is potentially useful for anyone.
Patent-Pending Method Developed
We have developed a way for Crypto Coin, like Bitcoin, to be usable in the real world, just as easily as cash.
This is a Patent-Pending invention, based on a network of companies. This can be a new network, built from the ground up with this in mind (and based on Blockchain technology), or an existing network where a group of companies decides to work together.
The Key to Virtual Money is Forming a Market
For virtual currency to be usable in the real world there needs to be markets where like-minded companies have come together, for virtual money to be usable. A market means that both virtual money and real cash can coexist, and have a use. Our Patent-Pending invention describes the key to this market.
With our invention, the market becomes more efficient, as it grows larger.
If you are working with Crypto Currency, contact us to learn more, and discuss our Patent-Pending ideas on making virtual money usable in the real world.
Branding and IP
Arkacia Ventures consults with companies on improving their branding and effective use of social media. We also develop our own brands, websites, apps, Patents, and other IP.