Love these comments from Hilary Clinton as they rekindle my belief that micro-markets, micro-credit and micro-insurance supported by converged, federated and mobile networks will have an increasingly large role to play both in the first-world and elsewhere.
By providing people with access to knowledge and potential markets, networks can create opportunity where none exists. Over the last year, I've seen this first hand. In Kenya, where farmers have seen their income grow by as much as 30% since they started using mobile banking technology. In Bangladesh, where more than 300,000 people have signed up to learn English on their mobile phones. And in sub-Saharan Africa, where women entrepreneurs use the internet to get access to microcredit loans and connect to global markets.
I’m beginning to think there must be vast untapped resources to be found in the gaps between traditional financial instruments and institutions and the new micro-finance markets. I reckon there’s a serious business opportunity for a team with experience in mobile social and transactional spaces…