Busted: Bankers and The Global Economy

June 25, 2009

The Free Lunch: Digital Economy Creates Expectations

Filed under: corporatism, economy, money, technology — Tags: , , , , , , , , , , — digitaleconomy @ 10:33 am

free lunchAs savvy users storm the internet and costs for running the internet drop, the business world is discovering that the traditional business model may be on its ear. Internet businesses like Amazon also find themselves in a commanding position to make money in a diminishing market at the expense of traditional business. This has actually been in evidence for quite some time as the downward pressure on prices online continues, and along with it, the opportunity to make a buck. This has been evident in the world of freelance, as the global digital economy takes prices, including levels of fraud and piracy to new unheard of levels. Making a buck online is no longer an assumption as old internet models fail to produce the desired result: profits. Computer users expect to use services and acquire goods for free, without cost to themselves. Already, many services online are free. Business is being forced to comply in order to compete since online customers refuse to pick up the tab. Free has evolved from a marketing gimmick to an expectation. Naturally, business continues to resist the drive of the consumer. Now internet services are being used with the hope of baiting consumers, but this isn’t working as the average user becomes more cynical and savvy. The old maxim “keep your money in your pocket” continues to prevail as the world of business wonders how to keep the business world strictly business.

March 25, 2007

American Express Plans RFID for Marketing

Filed under: banking, government, money, RFID, security — Tags: , , , , , , , , — digitaleconomy @ 4:03 pm

U.S. Patent Application #20050038718 details the use of RFID readers that American Express calls “consumer trackers” to closely watch people in stores. The idea is that RFID-embedded objects carried by the shopper would emit a “consumer identification signal” when queried by consumer tracker devices in the environment. Businesses would pick up this signal and use it to identify shoppers, track their movements, and observe their behavior.

U.S. Patent & Trademark Office File

Here are the main features of the patent for the tracking system:

“…consumer interface [configured to…provide a consumer identity signal to a radio frequency identification reader via a radio frequency signal] may also collect and transmit time and location information (more…)

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