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How technology makes life practical and safer

 

posted by Focused on November 29, 2010 @ 7:04 am in TECHNOLOGY

One of the great things about technology is that, when developed for a positive purpose, it can make our lives much simpler and safer. Affordable technology can now give people instant access to services that they could only have dreamt of before. Cellular phones are an example of that. In many countries, people had been waiting in vain for years for telephone landlines to become available in their area. Access to affordable mobile phones in those markets (in the late 90’s and early 2000’s) put an end to that lengthy and ridiculously inconvenient waiting period. Technology saved people an immeasurable hassle. Today, cellular phones are once again giving people access to practical services that they did not have.

 

Kenya is a perfect example of this. Only 20% of Kenyans have a bank account, which means that the vast majority of people have had to use cash for their transactions. However, 60% of the population owns a mobile phone today. A mobile phone-based system called M-Pesa now gives Kenyans a chance to move money safely and quickly without requiring a bank account or credit card. People no longer need to walk around with cash. Please watch the following video before reading the rest of the article.

 

 

 

How practical is it to have a ‘cashless wallet’? Extremely. Think about it. When a person does not have a bank account, where does he or she store his or her savings? In a box somewhere at home. Regardless of where people store cash, they will always be vulnerable to losing it easily. What happens to cash in a box when there is a flood? What happens to cash in a box when burglars come around? You get the point. A system such as M-Pesa provides more convenience and security.

 

 

Jamaica shares similar challenges to Kenya’s. I don’t know what the exact statistics are with regards to the number of people who do not own a bank account but I am sure that the number is high. Either way, the introduction of a cashless system such as M-Pesa to Jamaica would do a lot of good. The fact that it eliminates people’s need to walk around with cash alone is a good enough reason for its adoption. This is the way of the future.

 

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Tags : kenya, m-pesa, transaction, technology, mobile phone, jamaica, money
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