Wednesday, October 08, 2014

$100 Billion Plan To Save The World

The bitcoin logo
The bitcoin logo (Photo credit: Wikipedia)

  1. Scale out the Google/Facebook drone initiative to blanket the planet with internet access, effective immediately. Cost $25 billion.
  2. Design a $25 smartphone and flood the Arab countries (and subsequently rest of the world) with them. The dollar a day crowd gets the phone for free. Distribute shared solar chargers alongside. Cost $25 Billion. 
  3. Use Bitcoin technology (zero cost for money transfers) and mPaisa technology (bank account on your phone, you get money on your phone, you pay back on your phone) to radically expand microfinance globally. The goal is to not generate any profit, just to keep the fund intact. Cost: $50 Billion. Anyone with a phone with internet access can borrow upto $100 per year as long as they keep up with their monthly payments. If they miss three monthly payments in a row, they don't get to borrow any more for the following two years, after which they can choose to get back in the swing. You need a phone, and you need to send in an image of your fingerprint to a central database, and your picture perhaps. There is an app for that. A credit rating agency is instantly being set up. This program comes from the air. There is nothing between the dollar a day crowd and the internet. The interest rate on the loan is 5% per year. This is to make room for the fact that 5% of the borrowers will default. You can only get $100 per year for now. The next Warren Buffet should add another $50 billion to this. This would be the magic bullet of curing poverty. 
The best way to fight ISIS (population: 20,000) is to show to them and to the two billion Muslims and everyone else how small and irrelevant they are. They don't speak for two billion people. This political challenge is primary. The military threat, though very real, is secondary. 

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