Editorial Word on Social Media Banks
The Lord would have us understand that no one’s spiritual lot can be improved by being a lender or a money changer. Overall Social Media Banks are disguised as advertisements, but it is Big Data that sells your confidential assets, emails, IP address & other very confidential information to other corporations. Facebook’s database should be printing its own dollar anytime soon. In large, big companies will play it safe with new concepts, especially with old institutions like banks. The big 4 (Google, Amazon, Facebook, and Microsoft) will stay in their respective lanes as a long-term approach and might dabble in a few financial projects in the future. We would rather suggest – banks should become Google, Amazon, etc. by embracing technology and providing the next generation customer satisfaction and user experience consumers. If you stop and think about all the disruption (think of the UBERs of the world etc) it is all orienting value around the customer using new models and technology. We don’t see why the archaic bank models would be any different, as contrary to pointed out above, it may just take longer to gain trust. In the end, we Pakistanis had always listened to the notion that Israel controls the World Online economy. The plastic money is a hoax. Here you go, guys. The real New World Order.
Recent Criticism Tirade on the Cocomo Man
Boycott of all Candyland products is the talk of the town. Cult followers are going to defile anyone that doesn’t belong to their favorite party. They were too blind to see anything when the last government changed finance ministers like diapers. Some people are labeling someone a clown if they don’t know about web 3.0. They say, he is supposed to know this, he’s the minister of finance, he is representing financial policies, and he’s accountable for it all. He is the policymaker of a country that has immense IT export and resource potential.
I would say, ask Miftah about macroeconomics and then judge him. He has a Ph.D. in finance, not in technology. Even many technologists are bewildered about this. If he would’ve uttered nonsense about web 3.0, he would have received more harsh criticism for distorting facts. Everyone is disregarding the most important thing and that is he said the government won’t intervene over there. That’s the spirit Pakistan has been waiting for years. Let’s just hire a web 3.0 expert (are there any) as the finance minister. Sab theek ho jae ga?
People draw wrong parallels here. If you want to compare, compare Ahsan Iqbal with Murad Saeed, compare Hina Rabbani with Shah Mehmood. Sania Nishter was given the portfolio of PTIB first and she replaced Dr. Umar Saif. If you want to compare, Compare Sania with Dr. Umar (whom I clearly don’t like). Even Mr. Miftah Ismail is a very seasoned Economist. Read him and listen to him beyond the myopic vision. Much better than the likes of Asad Umer. No issues that’s why there are advisors who guide ministers about it.
Ph.D. in economics doesn’t equate to a multi-discipline grip over other matters. Better to acknowledge your limited understanding of the matter than claiming to be a master of the subject. He has particularly answered the question on web3.0, not on digital or cryptocurrency. Listen again. And in the last, he set out the policy guidelines that govt would not interfere in its development. This is how tech has evolved over the years. Plus, even IT experts are not agreed on one definition of such rapidly evolving fields. But yes, it’s Pakistan and you can claim to know this stuff & bash your minister after trading in Doge coins & Shiba.
