Busted: Bankers and The Global Economy

August 6, 2010

Google and Verizon Set to Initiate Internet Discrimination

Filed under: business, corporatism, politics, technology — Tags: , , , , , , , , — digitaleconomy @ 6:28 am

Originally, the Internet was founded on the principle that all data is equal. No body or corporation has been able to officially decide whose data goes faster or slower. Net Neutrality has made the internet what it is today as a platform for individual speech, democratic action, and entrepreneurial creativity.

President Obama’s new Federal Communications Commission chair strongly promoted Net Neutrality in line with the President’s campaign promises. Big telecom companies launched a lobbying frenzy, and soon the FCC was meeting with them behind closed doors.

According to reports, Google is about to cut a deal with Verizon that effectively ends a fair, open Internet as we know it. Google uses the corporate motto “Don’t Be Evil,” while acting as a staunch defender of Net Neutrality. In actuality, Google is threatening to turn the internet into a closed, pay-to-play, cash cow for large corporations.

In this case, Verizon would have free rein to discriminate on the mobile internet for smartphones and cell phones. Some believe that mobile communication is where most people will access the internet in the future, spelling the end of Net Neutrality for millions.

Google chief executive Eric Schmidt has verbally attacked “phone and cable monopolies” who “want the power to choose who gets access to high-speed lanes and whose content gets seen first and fastest.”

Google has issued a short, carefully worded statement challenging some of the details in The New York Times story, but it hasn’t denied that it is going along with this agreement to kill Net Neutrality.

The Google-Verizon deal allows giant corporations to control which websites load quickly and easily on the internet while dumping everyone else onto a slow internet connection. Google has opposed limiting internet access in the past.

Because Google and Verizon are two powerhouse corporations that have historically been on opposite sides of this issue, an agreement between them will put enormous pressure on the FCC to go along with their recommendations. Essentially, two giant corporations may be deciding the future of the internet. If the Obama administration goes along, and if the public doesn’t push back right away. Click here to help stop them now.

February 11, 2008

Mobile Banking Hot for Banks

Filed under: banking, investment, money, security, tracking — Tags: , , , , — digitaleconomy @ 12:00 am

Charlotte Observer Article
For years, bankers have been interested in the concept of mobile banking, but the concept failed to gain acceptance the first time. I have discussed the advances in the banking and financial industry in the area of new application of technology including RFID. The public wisdom is “with mobile banking, you don’t need a computer to check balances, pay bills and transfer funds among your accounts; all you need is a Web-enabled cell phone.” Banks are bringing mobile service on board as a supplemental service instead of trying to replace paper statements, which some customers insist on.

In the eyes of the bank are opportunities for advertising and keeping the customer as the cell phone must be programmed with their services. This makes a lateral move to another bank more difficult. Only time will tell if bank begin to see a problem with hackers. New phones are coming online in 2009 that may further secure banking technology using RFID. The convenience of banking is seductive to many and people often sell out to technology under the guise of control.

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