The connection to education? I'm terrified about the gap between our online maturity and the availability of tools. Much like the real problem with doing things like bio-engineering. If no one is teaching what the capabilities are, then no one is pondering the ramifications. Immaturity with big tools lead to things like "growing" bio-engineered meat in a tank in order to feed world hunger (it's no longer sci-fi, this is happening).
So the dangers here? Most of us believe in the idea of "State's Rights" and the importance of local government and local business. Here we are seeing the workings of a global economy and a very powerful monopoly. If we don't understand how to work within the confines of this system, how will we function? How far behind will our next generation be? And as they are able to get what they want out of a system of social tools, will they have the maturity to understand when they are being taken advantage of? If
It's Q & A time people.
What got my attention is the reference to peer-to-peer lending. The guy in the video is half right imho. I don't see FB as a bank, but I can see them hosting p2p lending. You mention 'if facebook starts lending'.
ReplyDeleteThe interesting point is that with p2p the service brings lenders and borrowers together, but does not lending itself. It acts as a passthrough if you like. What the service must do to be successful is enforce standards, manage loan repayment and if necessary collections, but the lending is done by the participants. Thats why the rates can become attractive, because there is no expensive middleman (read bank).
Impressive insights on P2P banking from Thomas Powers.
ReplyDeleteWhat happens when we combine his insights with:
1) @patrickdixon's forecast that cell phone carriers will become banks - http://j.mp/ajBKpU
2) @dougrushkoff's views on why personal currencies will emerge
>>“Radical Abundance: how we get past free and learn to exchange value again” http://rushkoff.com/2009/11/21/radical-abundance/
3) how facial recognition apps on cell phones will accelerate personal services/currency exchange - http://j.mp/93An3F
In sum, we may be soon see socnets (especially those partnering well with mobile carriers) launching far more resilient banking and exchange systems than fiat currencies have managed.
Best,
Mark Frazier
Openworld.com
@openworld
Mark .. I agree that mobile will play a role. I would go further and speculate that people will be able to build their own bank based on the services they require, and on the choice of aggregation point (mobile carrier, FB via mobile or web) etc.
ReplyDelete@colin - right, I missed making that point and distinction.
ReplyDeleteFacebook being the central place of connection/exchange and how administrators in education see Social Media as just recess time was my alert.
Focusing on the P2P aspect actually calms my fears somewhat on the global issues. But rural places with little forward thinking are even closer to the edge of making their students obsolete.
@Mark -thanks for the points/links. I think I may be obsessed with this idea now. "This" being personal currency, the role of the cell phone, and then combining that with niche marketing. I think I'll explore that with my blog on film.
ReplyDeleteJake,
ReplyDeleteI thought you said Facebook would overtake Google by the end of 2012.
Or it happened already.
http://weblogs.hitwise.com/heather-dougherty/2010/03/facebook_reaches_top_ranking_i.html
things are about to get very interesting!!!!!!!
come visit our community sometime at emergentbydesign.com
- @venessamiemis :)