Minutes as Money

Since my travels to West Africa, I've definitely been pondering the impact of mobility on not just communications but life in general. With mobile phones as the only means of two-way remote communication (unless you can afford a VSAT installation) in Liberia and the lack of financial infrastructure, I've been looking at how to leverage the mobile infrastructure to make remote banking and remote microfinance a possibility.

This blog from Om Malik discusses how minutes have become currency in some areas -- and how it has become a business for many. The article references an iAfrica.com entitled "Africa's cyber currency".

The idea of using mobiles to reach the unbanked is taking root, but my sense is we are very much at the cusp of understanding the impact, capabilities, and issues -- which is why I find it an intriguing topic for further research.