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DIGINOMICS - The World of Digital Economics

Tracking the Trends and Developments of a Globally Interconnected, All-Digital Culture

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As wireless technology expands, and interconnectivity spreads, an all-digitized global culture becomes a virtual reality.

WiMAX service providers around the globe today have networks covering more than 823 million people (or POPs) in approxi-mately 149 countries and are on track to reach one billion POPs by the end of 2011. The WiMax Forum
Smartphone Application Market To Reach US$15.65 Billion In 2013, reports research2guidance 
The global mobile worker population is predicted to increase from 919.4 million in 2008 to more than 1.19 billion in 2013, representing nearly 35% of the worldwide workforce. IDC.

Current World Population

6,981,979,000 (est.)
for real-time global stats

Current Internet Population
(percent of world penetration shown)
World Users:  2,095,006,005 (30.2 %)
U.S. Users:  239,893,600 (77.3 %)
U.S. Broadband: 85,287,100
Internet World Stats
March 31, 2011

Current Facebook Population

(percent of Internet penetration shown)
World Users:  664,032,460 (9.6 %)
U.S. Users:  154,971,340
(49.5 %)

Source: Internet World Stats
March 2011

[digital + economics]

The technological and social development toward an all-digital economy conducted electronically in all financial dealings between buyer and seller; a Cashless Society.
Merriam-Webster Online Dictionary 



Dangers of Using Your Debit Card
7 More Dangers in Using Your Debit Card
15 Tips: Protecting Your Identity (Part 1)
FTC Tips: Protecting Your Identity (Part 2)
Tips to Protect You Against ATM Thieves
Top 5 Tricks of Identity Thieves 
Sneaky New Electronic Shopping Scams


Alt. Banking
Bank Innovation

Bank Systems & Technology
CORE Cashless Systems 
Diginomics Group @ LinkedIn

DiginomicWorld in LinkedIn 

Electronic Funds Transfer Assn. (EFTA)
Future Foundation
Global Banking

Mobile Banking
NeoMedia Technologies
Payments Pulse
Quantum Retail 
Wikipedia: "Electronic Money" 



DiginomicWorld @ WordPress
DiginomicWorld @ inHouston
Diginomics by Joy Niemack
Banking4Tomorrow by Brett King
Diginomics.it (Italy)



In 1998, Wallace Wood, founder of the National Science & Technology Association (NSTA), first coined the term "Diginomics" to depict global trends toward a totally digitized world across the broad spectrum of cultures. The term is an acronym for "digital economics." In 2007, the Merriam-Webster Online Dictionary adopted the term as a new word in the English language, applying Mr. Wood's original definitions.


  The Digital Wallet Smart Phone
By now, we have all heard about the Digital Wallet technology that is changing smartphones into the ultimate e-banking and mobile commerce tool ("diginomics"). According to George Colwell, Apple was recently awarded a patent on their new development, the iWallet. From his blog on Bank Innovation, George writes: "it goes beyond simple payments to allow you to take control of your payment cards directly on your iPhone. Meaning you will be able to get statements, balances, other information and transactions beyond simple point-of-sale transactions." Check it out.


Visit the Virtual Store of the Future ... happening now in South Korea. Coming soon to shoppers in the US and Europe.



Mobile payment is going mainstream
It can replace cash, cheque or credit cards trans-actions and can be used for a wide range of services and digital or physical goods. Smartphone penetration will trigger a 4800% rise in mobile commerce by 2015 (to $119bn), with 71% of people already testing (and trusting) the system. Slideshow at Cashlog.com




Wave-to-Pay Technology for Cashless Payments

So, you're on the couch in front of your TV, and your hungry, but you really don't want to get up and go to the kitchen. The program you're watching is really good, and you don't want to miss a scene. What do you do? Well, with wave-to-pay technology through Xbox Kinect, simply wavr your hand in fron of your mouth to signal your hungry. Then, watch what happens next. ~Mashable Tech



Mobile payments could balloon 76% to $86 billion this year, Gartner says
141.1 million people around the world will make mobile payments this year, a 38.2% increase from last year.
~ Todd Haselton blog


    P2P Virtual Currency: On-Line "Cash" Advances
To transact online, you have to have an account with a third party like PayPal that you trust will follow your payment instructions. There's been no such thing as "online cash," no currency that could be exchanged untraceably between two persons without a third party intermediary--no such thing, that is, until now. ~TechLand Time



"A unique IP address to every single atom on the surface of the planet."
There is another Y2K-type scenario approaching, only this one is more sure than the one that didn't happen. Estimates are that the "old" Internet will run out of address numbers in mid-February 2011. IPv4 is about to dissolve to IPv6. As IPv4 addresses approach 70 million, what does this mean for all present and future Internet users? ~ FORBES blog ~ Wall Street Journal


RFID SMART CARDS are the electronic wallets of the future. Fast. Convenient. Secure? Presently, they pose the greatest public security risk.



More school districts converting to cashless cafeterias nationwide

The days of sending children to school with their lunch money neatly wrapped in handkerchiefs or inside their shoe or pocket is quickly giving way to a new cashless lunch payment system.
~ CreditCards.com


Check out these sources for Cashless Campus info!

MyCashlessCampus.com CreditCards.com "The Cashless Campus Project" India "Cashless Campuses" article CampusTechnology.com Campus Cash Campus Card





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UK Business News/IBTimes - "Next Generation to be Born Into Cashless Society" - Nov. 24, 2011
"Today's younger generation will trade in their cash, credit cards and cheques for mobile digital wallets by 2016, new research claims. Children born today will be Britain's first cashless generation and will frequently use their smartphones in exchange for goods and services, according to a report by the research company Forrester for the e-commerce site PayPal."

L. T. Hall, banking consultant, quoted in Wall Street Journal - Nov.30, 2011
"Many bankers don't quite get the fact there is a new normal, a new world order that is coming to banking."

Jeffrey Milman – The New York Times – June 24, 1999
“Chips can be programmed to store monetary value, just like EZ-Pass and Metrocard. If such a chip were implanted in the fleshy part of the palm of the hand, with a wave we could pay highway tolls, pass through subway and bus turnstiles and breeze through the supermarket checkout. Just think of the value to society: no more cash to worry about, or waiting for change, and no more muggings. This is the cashless society we have been dreaming of for years.”

David Wolman – Wired magazine – June 2009
“Unfortunately, the world’s governments remain stuck in the past. In an era when book, movies, music, and newsprint are transmuting from atoms to bits, money remains irritatingly analog. Physical currency is a bulky, germ-smeared, carbon-intensive, expensive medium of exchange. Let’s dump it!”

comScore Chairman Gian Fulgoni - internetnews.com - May 15, 2009
"The smartphone is to mobile advertising what broadband was to the PC. Pre- and post-broadband, it's night and day, and mobile commerce will go through the same type of transition. Mobile purchasing is small today, but we do believe the technology is aligning to make it much more prevalent. As smartphones become a bigger part of the market, and users become more confident, mobile e-commerce will gain traction."

"There's a whole new economy of mobile applications that are making buying transactions easier. As consumers become more aware of them and they reach critical mass, the market will move."

Ray Hammond - "Digital Business: Surviving and Thriving in an On-Line World"

"The emerging network economy will cause widespread disintermediation (the elimination of middle distribution channels) and it is clear that only those companies which move quickly to the new model will survive and thrive."

Cashless Society by 2012, says Visa chief (The Independent on Sunday) - March 11, 2007
"Paying for goods with notes and coins
could be consigned to history, according to the chief executive of Visa Europe. Peter Ayliffe said that, by 2012, using credit and debit cards should be cheaper and more convenient than cash."

"Mommy Doesn't Carry Cash" - Forbes.com, Sept.16, 2002
"This is how the cashless society is creeping up on us ... from established players like Visa using humdrum tools like debit cards. 'The cashless, checkless society is coming,' insists Carl Pascarella, chief executive of Visa USA. 'But it's not the big bang that everyone was expecting. It's a silent revolution.'"

InformationWeek, October 5, 2010: "The Customer Web"
"The Web is where people want to do business ... (It's) where people are accustomed to lots of new features and functions."

Jacob Jegher, senior analyst, Celent (quoted in Information Week, Oct.5, 2010, "The Customer Web")
"A customer with online banking plus bill pay plus personal financial management, is a customer for life ... Still, if you are a Twitter or Facebook user, or you shop at Amazon, these are rich, Web 2.0 sites. Then you log into your bank account, and it's circa 1999."

Daniel Roth - WIRED magazine, March 2010: "Money Wants to be Free"
"Cash, checks, and credit cards -- who needs them? The new global currency is flexible, frictionless, and (almost) free ... Your wallet may never be the same ... For businesses that depend on moving money, the distributed, lower-cost, easier-to-access future can't come soon enough."

L. T. Hall - banking consultant, Alpharetta GA; Wall Street Journal, 11/30/11: "Ax Falls at Smaller Banks" (Money & Investing seciton)
"Many of the bankers (of small banks) don't quite get the fact there is a new normal, a new world order, that is coming to banking."





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