First Cashless Society - In Somaliland?

Tiny Somaliland, an unrecognized country in the Horn of Africa, has 3.5 million people, 53,000 square miles and runaway hyperinflation. Take a look at this picture of some money changers with their bricks of cash.


(Somaliland money changers with bricks of cash)

For every dollar there are almost 17,000 Somaliland Shillings and the highest-denomination note is 500 Shillings, which is by no means the most common note in circulation. Money-changers sit within self-built stacks of money (picture left, video below) and children take wheelbarrows of it from one place to another...

A significant diaspora send American dollars home by using Dahabshiil, an African version of Western Union that is extraordinarily efficient... Selesom, the major mobile carrier has launched a service where cash is completely bypassed...

The diaspora will continue to wire money home but the recipients will no longer need to go to a bank or visit the money-changers.

They will only need their mobile for all transactions...

SF fans have seen cashless society idea before. The earliest exact reference I know about from sf (or anywhere else) comes from the prescient 1965 novel The Age of the Pussyfoot by Frederik Pohl. In the novel, the joymaker (a combination PDA, cellphone and information network browser that is still way ahead conceptually of Apple's iPhone) can be used to make purchases:

To use your joymaker as a credit card: You must know the institutional designation and account spectrum ...
(Read more about Pohl's cellphone credit card)

Learn about more ways to pay with your cellphone. Via Techcrunch.

Scroll down for more stories in the same category. (Story submitted 9/5/2010)

Follow this kind of news @Technovelgy.

| Email | RSS | Blog It | Stumble | del.icio.us | Digg | Reddit |

Would you like to contribute a story tip? It's easy:
Get the URL of the story, and the related sf author, and add it here.

Comment/Join discussion ( 0 )

Related News Stories - (" Culture ")

China Social Credit System Like State-Run Whuffie
'At least there was no mandatory Whuffie check on the monorail platform...' - Cory Doctorow, 2003.

Sex In Driverless Cars? Updated With Video!
'...admirable for petting.' - David H. Keller, 1935.

Xinhua AI Anchor Puts CGI Face To Automated News
'...a congeries of software agents.' - William Gibson, 1996.

Wirewax Watching You Watch, Adjusting Your Experience
'He adjusted the n, the r and b knobs, and hopefully anticipated a turn for the better...' - Philip K. Dick, 1964.

 

Google
  Web TechNovelgy.com   

Technovelgy (that's tech-novel-gee!) is devoted to the creative science inventions and ideas of sf authors. Look for the Invention Category that interests you, the Glossary, the Invention Timeline, or see what's New.

 

 

 

 

 

Current News

Unfurl The Future! Huawei Mate X versus Galaxy Fold
'A paper thin polycarbon screen unfurled silently from the top of the unit and immediately grew rigid.'

Amazon Echo And Google Home Should Have Morality Software
'The Dwoskin Morality Rating-Computer could 'spot the slightest tendency to deviation' from the social norm...'

China Building Robot Wives
'Want a life-companion, a pleasant one?'

China Social Credit System Like State-Run Whuffie
'At least there was no mandatory Whuffie check on the monorail platform...'

Project Soli Radar Gesture Chip Now FCC Approved
'He waved his hand and the circuit switched abruptly.'

Stan, Robot Valet, Will Drag Your Car Away
'He activated the grapple tracks. '

Jibo Home Robot Says Goodbye, Is Killswitched
'It resembles an oyster....'

Johns Hopkins Says Asteroid Deflection Will Be Difficult
'This obelisk is one huge deflector mechanism...'

Fabric Automatically Cools Or Insulates Based On Environment
'...a high-efficiency filter and heat-exchange system.'

Deepfakes From OpenAI GPT-2 Algorithm
'How can you compete with an IBM heavy-duty logomatic analogue?'

John Deere Self-Driving Tractor
'The huge plow... seemed to shake itself - and began to move back southward.'

North Focals Smart Glasses Provide Augmented Reality In Style
'The world ... is drenched in unfamiliar information all the way to the horizon.'

Tesla Driver Caught Napping Behind The Wheel
'Mary Risling settled back for a little nap...'

Hayabusa 2 To Begin Asteroid Mining
'We must dig down, and then doubtless we shall find the metal.'

Ionocraft Drone Powered By Electrohydrodynamic Thrust
'He saw one hiss by him as he rounded the corner, trailing a short whip antenna...'

Purdue Pharma Ready To Profit From OxyContin Use Or Addiction Recovery
'It may be organic damage. It may be permanent. Time'll tell, and only after you are off Substance D for a long while.'

More SF in the News Stories

More Beyond Technovelgy science news stories

Home | Glossary | Invention Timeline | Category | New | Contact Us | FAQ | Advertise |
Technovelgy.com - where science meets fiction™

Copyright© Technovelgy LLC; all rights reserved.