Prolific Financial Times in the Mobile Age

“Money is the root (or the Cause) of all evil”

—Author Unknown

Everyone uses money, wants money, and need money in order to live, thrive and survive. Many articles, books, and novels have been written on money along with a whole slew of theories that have been formulated about money— some legitimate and some misleading. Money is a uniform phenomenon and a subject matter of considerable gravity, especially since it is the life-blood that sustains almost everything from the price system economies and world markets to the institutions that drive them.

Money for that matter is an institution in and of itself. Or more specifically, it is a well-devised medium of exchange or unit of account that serves as a fundamental part of culture and a useful expedient for the trade of goods and services. This is powerful. And money is power. But power corrupts; absolute power corrupts absolutely, which is why money is considered the root (or the Cause) of all evil.

Also, this is the mobile age of digital ubiquity. It has changed the direction of money. To the extent that, it is becoming more and more prevalent that the advent of the mobile device and now mobile money is eliminating the need for credit cards & cash money to transact business, albeit a major security implication associated with it.

People far and near are using the Internet and their mobile devices to “transfer money, purchase goods, and engage in other types of financial transactions everyday (Pew Research Internet Project).” No longer are the days of strictly hand-to-hand [money] exchanges using cash or credit cards tucked away neatly in one’s wallet sleeve or pants pocket.

Today, there are digital [money] exchanges and virtual wallets via mobile phones serving people, as a useful expedient for the trade of goods and services. They are being used as an “all-in-one payment device, identification system, coupon book and financial planner (Pew Research Internet Project).” This is powerful. Mobile money is power. But power corrupts; absolute power corrupts absolutely, which is why mobile money may be considered the root (or the Cause) of all of tomorrow’s evil.      

This is due to a new technological advancement known as near-field communication (NFC). NFC facilitates a process that allows “… users to store payment information in the clouds and pay for goods at participating retailers by tapping their phone at the point of purchase (Pew Research Internet Project).” This process is part of a “mobile wallet” system that is being adopted by many of the major market players in the retail, banking, and financial markets.

According to a study conducted by the Federal Reserve in March of 2012, it was found that:

• 21% of mobile phone owners had used mobile banking services over the course of a year.
• 11% of mobile phone owners had planned to use such services the following year.
• 90% of mobile phone owners used their devices to check account balances and transactions.
• 42% of mobile phone owners used their devices to transfer funds between accounts.
• 12% of mobile phone owners used their devices to pay bills and make Acct-to-Acct transfers.

Still, there are some major widespread concerns associated with mobile money, and this process of mobile payments by way of NFC such as:

·         NFC Hacking

·         Market Fragmentation

·         Lack of Interoperability

·         Lack of Privacy     

Nevertheless, it is this mobile age of digital ubiquity that is forging a new path for the future generations of this country. Mobile money will arguably be the new money. And the new medium of exchange will be an “all-digital-all-the-time format” using the mobile device. By 2020, the plastic credit card and paper currency may very well be a thing of the past. Everyone instead may be using mobile money, wanting mobile money, and needing mobile money in order to live, thrive and survive. 

It certainly seems like the wave of the future. But, I guess only time will tell— the most Prolific of Financial Times in the Mobile Age.     

Prolific Images and Text-based Content

The business of Public Administration is heavily impacted by technology in the 21^st Century. Why? 

Because technology has “enabled and empowered” the average citizen with the advantage of "ubiquity and pervasiveness" given its ability to connect vast communities of people at the click of a button via the Internet. People anywhere at any time with an Internet connection can unite, network, share information or even trade secrets while sitting back as distant happenings unravel to shape situations in their immediate area codes. 

This is the same technology that is being used to preempt the impact of globalization and address some of the demographic changes sure to ensue over the course of the next decade. Burgeoning technology that is “…being leveraged to facilitate public administration and governance” or bridge generational gaps, meld cultures and build business connections. New technology such as Social Media and Web 2.0, which is truly game changing, and particularly prolific in Public Administration in so many ways on so many levels!

But, please feel free to weigh in yourself, if you will...

Prolific Images

Welcome to Prolific

My name is Nolan Pickens. This is the launch of my new blog site called Prolific. The intended purpose of this blog site is to produce quality content about public sector and private sector business matters. There will be a vast array of ideas and a whole host of information being shared between and among directors or administrators charged with managing public need(s) and demand(s). We will be using internal and external sources of technology including, but not limited to hyperlinks comprised of the following:

·         Text-based Content

·         Images

·         Video’s

·         Pictures

There will be an open flow of communication with the general public and this will be made possible through a subscription process called Real Simple Syndication (RSS), which is a feed management system used to alert the public, whenever new updates are posted to the blog site. Essentially, the RSS feed associated with the blog site is the means by which private sector and public sector participants expatiate upon various themes of interest, while engaging the public in order to garner consideration, and disseminate information through dialogue. 

Open dialogue that necessitates feedback to keep these professionals in the proverbial loop, especially since execution of “the people’s will” is the public managers raison d’être, and social media is a lifeline to communicating with them. Or more specifically, a prolific marketing communication tool that improves upon efficiency, effectiveness, and responsiveness for successful delivery of public services. 

So welcome to Prolific, a platform built for high functioning thought leaders, and a place where great business ideas produce [in large quantity] solutions to some of the greatest challenges faced by both private sector and public sector organizations. Let's have some fun innovating through the exchange of idea's in order to effect positive change because at the end of the day, that's what's Prolific in the terrific world of Public Administration!