Ryan Rommann is an independent economic researcher based in Singapore. His work has appeared in such places as The Guardian, Diplomat, American Interest, and numerous academic journals. Ryan’s writing focuses primarily on China and East Asia, where he has lived for the past four years, including two years in Peace Corps Mongolia. He holds a masters degree in international affairs from the Maxwell School of Syracuse University. Previously, he advised small tech companies with entering the Asian markets and worked for IBM.
Bitcoin
Cash Is Trash: The Future of Mobile Payment
Just as the magnetic strip revolutionized payment by plastic credit card, near-field communication and other fast-evolving technologies will facilitate the move to payment using mobile technologies. NFC chips inside most mobile phones can transmit banking and payment data when placed near readers. Unlike a debit card, a mobile phone can display interactive payment details. And, instead of the credit card application process of filling out paperwork and waiting for the mail, using a mobile phone to pay requires only the download of an app and linking to bank details. PayPal president, David Marcus, calls it Money 3.0.
