e-Commerce – Go Lean…Caribbean

Tag: e-Commerce

Internet Birthday – Still Growing Up after 50 Years

Posted on October 30, 2019 in Ethos, Industries, Strategy

Go Lean Commentary

Today – October 29, 2019 – is the 50th birthday of the Internet.

No joke …

This is a Big Deal – or should be – for the world and for us in the Caribbean. The Internet has brought Good, Bad and Ugly to the world:

Think of the ease of communications with people around the world. Have you paid for long distance telephone calls lately?
When was the last time you touched an encyclopedia book or volume? … a dictionary?
Think of retail industries that have disappeared: record stores, book stores, travel agencies.

In this commentary, we have been consistent in our advocacy of Internet & Communications Technologies (ICT); see this previous post:

Technology has also pounced on the modern world, the Caribbean included; what started as a counter-culture revolution – nerds, geeks and techies – has become mainstream and normal. People today are walking around with a computer in their pockets (smart-phones) that far exceeds Big Mainframe systems (Big Iron) from 30 years ago; think 1 terabyte of memory-storage; 3.5 Giga-Hertz processor chips; global communication networks with interconnected devices around the world.

This change is not all bad! The whole world – the people, media and information – is now accessible at our finger tips!

It is our assertion that the entire Caribbean region – all 30 member-states, Cuba included – must adopt, compete and thrive in our ICT endeavors. This is one strategy for leveling the playing field in our competition with the rest of the world. But to adopt, compete and thrive, we cannot only consume; we must produce (research and develop) as well.

Why? Because the internet can also lead consumers astray; there are lanes on the information superhighway that goes into some dark-dangerous corners of society. See how this was pronounced by this college professor, who so happens to be one of the Participating Founders of the Internet 50 years ago … today:

Opinion: 50 years ago, I helped invent the internet. How did it go so wrong?
By: Leonard Kleinrock
When I was a young scientist working on the fledgling creation that came to be known as the internet, the ethos that defined the culture we were building was characterized by words such as ethical, open, trusted, free, shared. None of us knew where our research would lead, but these words and principles were our beacon.

We did not anticipate that the dark side of the internet would emerge with such ferocity. Or that we would feel an urgent need to fix it.

How did we get from there to here?

While studying for my doctorate at MIT in the early 1960s, I recognized the need to create a mathematical theory of networks that would allow disparate computers to communicate. Later that decade, the Advanced Research Projects Agency — a research funding arm of the Department of Defense created in response to Sputnik — determined they needed a network based on my theory so that their computer research centers could share work remotely.

My UCLA computer lab was selected to be the first node of this network. Fifty years ago — on Oct. 29, 1969 — a simple “Lo” became the first internet message, from UCLA to Stanford Research Institute. We had typed the first two letters of “login” when the network crashed.

This quiet little moment of transmission over that two-computer communication network is regarded as the founding moment of the internet.

During its first 25 years, the internet grew dramatically and organically with the user community seeming to follow the same positive principles the scientists did. We scientists sought neither patents nor private ownership of this networking technology. We were nerds in our element, busily answering the challenge to create new technology that would benefit the world.

Around 1994, the internet began to change quickly as dot-coms came online, the network channels escalated to gigabit speeds and the World Wide Web became a common household presence. That same year, Amazon was founded and Netscape, the first commercial web browser, was released.

And on April 12, 1994, a “small” moment with enormous meaning occurred: The transmission of the first widely circulated spam email message, a brazen advertisement. The collective response of our science community was “How dare they?” Our miraculous creation, a “research” network capable of boundless computing magnificence had been hijacked to sell … detergent?

By 1995, the internet had 50 million users worldwide. The commercial world had recognized something we had not foreseen: The internet could be used as a powerful shopping machine, a gossip chamber, an entertainment channel and a social club. The internet had suddenly become a money-making machine.

With the profit motive taking over the internet, the very nature of innovation changed. Averting risk dominated the direction of technical progress. We no longer pursued “moonshots.” Instead advancement came via baby steps — “design me a 5% faster Bluetooth connection” as opposed to “build me an internet.” An online community that had once been convivial transformed into one of competition, antagonism and extremism.

And then as the millennium ended, our revolution took a more disturbing turn that we continue to grapple with today.

By suddenly providing the power for anyone to immediately reach millions of people inexpensively and anonymously, we had inadvertently also created the perfect formula for the “dark” side to spread like a virus all over the world. Today more than 50% of email is spam, but far more troubling issues have emerged — including denial of service attacks that can immobilize critical financial institutions and malicious botnets that can cripple essential infrastructure sectors.

Other dangerous players, such as nation-states, started coming onto the scene around 2010, when Stuxnet malware appeared. Organized crime recognized the internet could be used for international money laundering, and extremists found the internet to be a convenient megaphone for their radical views. Artificial intelligence, machine learning, facial recognition, biometrics and other advanced technologies could be used by governments to weaken democratic institutions.

The balkanization of the internet is now conceivable as firewalls spring up around national networks.

We could try to push the internet back toward its ethical roots. However, it would be a complex challenge requiring a joint effort by interested parties — which means pretty much everyone.

We should pressure government officials and entities to more zealously monitor and adjudicate such internet abuses as cyber-attacks, data breaches and piracy. Governments also should provide a forum to bring interested parties together to problem-solve.

Citizen-users need to hold websites more accountable. When was the last time a website asked what privacy policy you would like applied to you? My guess is never. You should be able to clearly articulate your preferred privacy policy and reject websites that don’t meet your standards. This means websites should provide a privacy policy customized to you, something they should be able to do since they already customize the ads you see. Websites should also be required to take responsibility for any violations and abuses of privacy that result from their services.

Scientists need to create more advanced methods of encryption to protect individual privacy by preventing perpetrators from using stolen databases. We are working on technologies that would hide the origin and destination of data moving around the network, thereby diminishing the value of captured network traffic. Blockchain, the technology that underpins bitcoin and other digital currencies, also offers the promise of irrefutable, indisputable data ledgers.

If we work together to make these changes happen, it might be possible to return to the internet I knew.

Leonard Kleinrock is distinguished professor of computer science at the UCLA Samueli School of Engineering.

Source: Posted October 29, 2019; retrieved October 29, 2019 from: https://www.latimes.com/opinion/story/2019-10-29/internet-50th-anniversary-ucla-kleinrock

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VIDEO – The internet is turning 50 this year, here’s how it all started – https://youtu.be/U58HO1FyQ04

CGTN America
Posted April 2, 2019 – The technology behind the very platform you’re reading these words on turns 50 years old on Oct. 29th. On this date in 1969, researchers sent the first message ever online.

CGTN’s Phil Lavelle reports on how it all started in room at UCLA back in 1969.

Watch CGTN LIVE on your computer, tablet or mobile http://america.cgtn.com/livenews

Subscribe to CGTN America on YouTube
Follow CGTN America:
Twitter: @cgtnamerica
Facebook: @cgtnamerica

Category: News & Politics

The founding of the internet is not unfamiliar to this movement behind the book Go Lean…Caribbean; one of the book authors benefited from the tutelage of another one of the Participating Founders of the computer science that led to today’s internet; see the obituary excerpts of Dr. Thomas Mason in the Appendix below.

The Way Forward for the Caribbean now relies heavily on Internet & Communications Technologies. We cannot get from “here to there” without a robust participation in the art and science of ICT.

This theme – doubling-down on ICT – aligns with many previous Go Lean commentaries; see a sample list here:

https://goleancaribbean.com/blog/?p=18524	One Step Closer: e-Money Solutions in One Country After Another
https://goleancaribbean.com/blog/?p=17040	Uber: An ICT product that is a ‘Better Mousetrap’
https://goleancaribbean.com/blog/?p=16364	5 Years Later – Technology: Caribbean countries fully on board
https://goleancaribbean.com/blog/?p=15875	Internet Giant “Amazon”: ‘What I want to be when I grow up’
https://goleancaribbean.com/blog/?p=15858	New Media Model – Network Mandates for a New Caribbean
https://goleancaribbean.com/blog/?p=15075	New Governing Model: e-Government 3.0
https://goleancaribbean.com/blog/?p=13466	Future Focused – Personal Development and the Internet
https://goleancaribbean.com/blog/?p=11358	Retail Apocalypse – Preparing for the e-Commerce Inevitable
https://goleancaribbean.com/blog/?p=11184	JPMorganChase spent $10 billion on ‘FinTech’ for 1 year
https://goleancaribbean.com/blog/?p=6341	Tourism Stewardship – What’s Next? Internet Sales & Administration
https://goleancaribbean.com/blog/?p=5435	New Governing Model – China Internet Policing Lessons
https://goleancaribbean.com/blog/?p=2126	Where the Jobs Are – ICT Reshaping Global Job Market

The Internet is not fully grown – it continues to mature, despite fully-developed eco-systems.

What will be the end-result for Cable Television? Electioneering? E-Learning?

We have more questions than we have answers.

There is still opportunity for Caribbean stakeholders to mold the landscape for Internet Commerce in our region; i.e. imagine what the end result will be for 3D-Printing?

We urge all stakeholders to tune-in to the next 50 years by leaning-in to this Go Lean roadmap. We are preparing the region to not just consume, but also to foster and forge internet solutions for our homeland. This is how we will make our homeland a better place to live, work and play. 🙂

About the Book
The book Go Lean…Caribbean serves as a roadmap for the introduction and implementation of the technocratic Caribbean Union Trade Federation (CU), for the elevation of Caribbean society – for all member-states. This CU/Go Lean roadmap has these 3 prime directives:

Optimization of the economic engines in order to grow the regional economy to $800 Billion and create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.

The Go Lean book provides 370-pages of turn-by-turn instructions on “how” to adopt new community ethos, plus the strategies, tactics, implementations and advocacies to execute so as to reboot, reform and transform the societal engines of Caribbean society.

Download the free e-Book of Go Lean … Caribbean – now!

Who We Are
The movement behind the Go Lean book – a non-partisan, apolitical, religiously-neutral Community Development Foundation chartered for the purpose of empowering and re-booting economic engines – stresses that reforming and transforming the Caribbean societal engines must be a regional pursuit. This was an early motivation for the roadmap, as pronounced in the opening Declaration of Interdependence (Pages 12 – 14):

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xvi. Whereas security of our homeland is inextricably linked to prosperity of the homeland, the economic and security interest of the region needs to be aligned under the same governance. Since economic crimes … can imperil the functioning of the wheels of commerce for all the citizenry, the accedence of this Federation must equip the security apparatus with the tools and techniques for predictive and proactive interdictions.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

xxvii. Whereas the region has endured a spectator status during the Industrial Revolution, we cannot stand on the sidelines of this new economy, the Information Revolution. Rather, the Federation must embrace all the tenets of Internet Communications Technology (ICT) to serve as an equalizing element in competition with the rest of the world. The Federation must bridge the digital divide and promote the community ethos that research/development is valuable and must be promoted and incentivized for adoption.

xxx. Whereas the effects of globalization can be felt in every aspect of Caribbean life, from the acquisition of food and clothing, to the ubiquity of ICT, the region cannot only consume, it is imperative that our lands also produce and add to the international community, even if doing so requires some sacrifice and subsidy.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

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Appendix: Obituary of Dr. Thomas Mason

July 24, 2017 – It is with a heavy heart that we report the passing of a great educator and STEM influencer, Dr. Thomas W. Mason. He was the founder and legendary professor of Mathematics, Data Processing and Computer Science at Florida Agriculture & Mechanical University (FAMU).

…

Considering the proud legacy of Historical Black Colleges and University (HBCU), Dr. Mason was agnostic to all of that; he was first and foremost a computer scientist, who happened to be Black, He matriculated for his PhD at the University of Illinois (completing in 1973); there he worked on the ILLIAC project, directly on the ILLIAC IV effort:

ILLIAC (Illinois Automatic Computer) was a series of supercomputers built at a variety of locations, some at the University of Illinois at Urbana-Champaign (UIUC). In all, five computers were built in this series between 1951 and 1974. Some more modern projects also use the name.

The architecture for the first two UIUC computers was taken from a technical report from a committee at the Institute for Advanced Study (IAS) at Princeton, First Draft of a Report on the EDVAC [1945], edited by John von Neumann (but with ideas from Eckert & Mauchley and many others.) The designs in this report were not tested at Princeton until a later machine, JOHNNIAC, was completed in 1953. However, the technical report was a major influence on computing in the 1950s, and was used as a blueprint for many other computers, including two at the University of Illinois, which were both completed before Princeton finished Johnniac. The University of Illinois was the only institution to build two instances of the IAS machine. In fairness, several of the other universities, including Princeton, invented new technology (new types of memory or I/O devices) during the construction of their computers, which delayed those projects. For ILLIAC I, II, and IV, students associated with IAS at Princeton (Abraham H. Taub, Donald B. Gillies, Daniel Slotnick) played a key role in the computer design(s).^[1]

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The ILLIAC IV was one of the first attempts to build a massively parallel computer. One of a series of research machines (the ILLIACsfrom the University of Illinois), the ILLIAC IV design featured fairly high parallelism with up to 256 processors, used to allow the machine to work on large data sets in what would later be known as vector processing. After several delays and redesigns, the computer was delivered to NASA’s Ames Research Center at Moffett Airfield in Mountain View, California in 1971. After thorough testing and four years of NASA use, ILLIAC IV was connected to the ARPANet for distributed use in November 1975, becoming the first network-available supercomputer, beating Cray’s Cray-1 by nearly 12 months. – Source: Wikipedia

Notice the reference here to ARPA and ARPANet – ARPA, the Advanced Research Projects Agency, renamed the Defense Advanced Research Projects Agency (DARPA) in 1972 – this was the forerunner to today’s Internet. He was proud of this participation and accomplishments of this endeavor – he often embedded this history in his lectures. He sought to influence the next generation of students to look, listen, learn, lend-a-hand and lead in the development of these cutting-edge technologies. (By extension, his impact extended to the Caribbean as well).

For those who listened and learned, we are forever grateful for Dr. Mason contributions and tutelage.

The publishers of the book Go Lean…Caribbean recognize the life contributions of Dr. Mason as a STEM educator, visionary and influencer. … Any hope of creating more jobs requires more STEM … students, participants, entrepreneurs and educators. The Go Lean roadmap seeks to put Caribbean people in a place of better command-and-control of the STEM field for their region. We need contributions from people with the profile like Dr. Mason; he provided a role model for inspiration … for this writer, a former protégé.

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College, e-Commerce, ICT, Model, Transform

One Step Closer: e-Money Solutions

Posted on October 29, 2019 in Economics, Government, Implementation, Industries

Go Lean Commentary

Old: A penny saved … is a penny earned!
New: A penny saved … is a penny!

Don’t get it twisted! While the discipline of savings is a positive ethos, the end result of saving a penny is still just a penny. The goal must be to match the good ethos with some real financial resources:

A $Million saved, is a $Million earned
A $Billion saved, is a $Billion earned
A $Trillion saved, is a $Trillion earned

The assessment of the 2013 book Go Lean…Caribbean is that we need to foster the positive community ethos to save and invest – we need to be more Future Focused. At the same time, we also need to avail ourselves of the leverage of a regional Single Market economy for the 30 Caribbean member-states, rather than just one (1) little country by itself.

This commentary is advocating that the ethos that needs to be fostered is the adoption of Electronic Money schemes.

As related in a previous blog-commentary about Payment Cards…

…”there is now the opportunity to transform the industrial landscape of Caribbean communities; we can install controls so as to better manage our economy and industrial landscape. Among the many strategies and tactics discussed by this Go Lean movement, there is this one irresistible prospect of introducing electronic money (e-Money) or Payment Cards through out the region. So, instead of cash, industrial stakeholders will do most transactions … electronically.

This changes everything!

With an e-Money/Payment Cards deployment, there would be so many benefits; consider these possibilities:

Functional – Payroll and Government Benefits can be easily loaded; credit programs can also be added.

Universality – whether its e-Money or Payment Cards, all financial transactions can be executed.

Portability – e-Money can be used in Cyberspace and in the real world transactions (merchant POS, ATMs).

Security – Smartchips and PIN options can ensure against unauthorized use.

Resilience – card-to-card transactions can be conducted even with no online connection – think Block-chain.

Risk-aversion – The informal economy and Black Markets are mitigated, thereby fostering tax revenues.

Far-reaching – Benefits outside of the payment transaction; the scheme increases the money supply (M1), which increases available bank capital for community investments.

The Bahamas is now embarking on this journey …

… this is a great First Step. See the full story here:

Title: Island Pay Licensed to Provide Electronic Money Solution in The Bahamas
NASSAU (GLOBE NEWSWIRE) – Island Pay, an electronic money mobile payment service provider has been granted a license by the Central Bank of The Bahamas. The Payment Service Provider license was issued after Island Pay met the qualifications of the Regulations and Guidelines of the Central Bank’s mandatory requirements set out in the “Payment Instruments (Oversight) Regulations, 2017” that came into force on July 21^th, 2017.

Island Pay has been granted the first license under these new Regulations.

Frank Svatousek, Island Pay CEO said, “the Central Bank regulates domestic payment service providers including retail banks, credit unions and money transmission businesses, but saw the need to establish a new class of provider, the payments institution. In a recent paper titled Digital Currency – Extending the Payments System Modernisation Initiative the Central Bank recognized that the shrinking footprint of the retail banks coupled with the increased shift in payments towards electronic modes necessitated regulatory review and the creation of the Payment Service Provider.”

“Among the benefits of this new class of service provider,” Mr. Svatousek said, “is that our Bahamian customers will have cost effective and easy to use bill payment, person to person transfers, mobile top-up and merchant solutions. As a tokenized service, it is as secure as existing mobile payment services and all of our customers’ data is securely held in The Bahamas. The smartphone application, available for Android and iOS, allows users to manage the service with security and control from any island in The Bahamas.”

About Island Pay
Island Pay was founded in 2016. The company recognizes the strong business case for mobile electronic money providers seeking to re-do the way consumers interact with payments, authentication and identity, especially in underserved areas of the globe. Before Island Pay, management co-founded Carta Worldwide and Mint Technology. More information can be found on the Island Pay website.

For further Information contact:

Frank Svatousek, CEO
Island Pay
media@islandpay.com

Source: Ltd posted October 9, 2018; retrieved October 28, 2019 from: https://www.globenewswire.com/news-release/2018/10/09/1618817/0/en/Island-Pay-Licensed-to-Provide-Electronic-Money-Solution-in-The-Bahamas.html

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VIDEO – Introducing the Island Pay Digital Wallet – https://youtu.be/NHP7tzTEW4M

Island Pay
Posted May 27, 2019 – Island Pay is the first Payment Service Provider licensed by the Central Bank of the Bahamas. The Island Pay Digital Wallet will allow users to load and withdraw cash at Island Pay locations, transfer money between friends, pay bills and purchase mobile minutes for friends at home and abroad. Island Pay Customers will be able pay in-store and online at participating merchants.

Category: People & Blogs

This First Step – regulatory framework – is just One Step closer to the vision of a regional e-Money currency for the full Caribbean. Yes, we can …

Conceive, Believe, Achieve
We have conceived this e-Money plan, and now we see the regulatory framework being put in place. This was the intent of the Go Lean book, to serves as a roadmap for the introduction and implementation of the Caribbean Union Trade Federation (CU) and the aligning Caribbean Central Bank (CCB), the issuer of Caribbean Dollar (C$). This Go Lean/CU/CCB roadmap depicts e-Money and Payment Cards as a hallmark of technocratic efficiency, with the agility to manage this deployment. This will affect all aspects of Caribbean society – economics, security and governance.

This reality of e-Money fits in with the quest of the Go Lean roadmap, to optimize all these societal engines. Notice how that aforementioned previous Go Lean blog-commentary identified vital areas in society that would be affected:

e-Government – The CU is prescribed as the regional administrator for ICT for the Single Market of 30 states and 42-million people. While the Caribbean Central Bank (CCB) will manage the region’s M1, they will embrace the e-Government mandate, calling for card-based, electronic payment options for all federal transactions and encouraging this mode for state/municipal/private facilitations as well. This means that the Caribbean dollar (C$) will be mostly cashless, an accounting currency much like the first years of the Euro. The CCB will settle all C$ electronic transactions (MasterCard-Visa style or ACH style) and charge interchange/clearance fees. – This scheme is fully defined on Page 198.
Cruise line passengers using smart-chips – The cruise industry needs the Caribbean more than the Caribbean needs the industry. But the cruise lines have embedded rules/regulations designed to maximize their revenues at the expense of the port-side establishments. The CU solution is to deploy a scheme for smartcards (or smart-phone applications) that function on the ships and at the port cities. This scheme will also employ NFC technology – see Appendix VIDEO below; (Near Field Communications; defined fully at Page 193 – so as to glean the additional security benefits of shielding private financial data of the guest and passengers. [This scheme will incentivize more spending among cruise line passengers.]
Electronic Commerce
This holds the promise of “leveling the playing field” so that small merchants can compete against larger merchants. To facilitate e-Commerce, purchased merchandise must get to their destinations as efficiently as possible. The CU’s implementation of the Caribbean Postal Union allows for better logistics for package delivery. – Defined fully on Page 201.
Internet Marketplace / Social Media – The CU‘s web portal, www.myCaribbean.gov, will grant free access, email, IM, and profile pages for CU stakeholders, even normalizing communications thru social media sites. This will facilitate internet commerce activities in the region, as the CU will have hot data on profiles, habits and previous activities, thereby creating opportunities for measured marketing. – Defined fully on Page 198.
Government Benefits / Electronic Benefits Transfer (EBT) – This sub-system allows State welfare departments to issue benefits via magnetically encoded payment cards, used in the United States and the United Kingdom. Common benefits provided (in the United States) via EBT are typically of two general categories: food and cash benefits. – Defined fully on Page 353.
Unemployment Benefits – The CU‘s mandate for e-Delivery and e-Payment will make the unemployment benefits process more effective and more efficient. Claimants will be able to apply online or on the phone, and payments will be disbursed to debit/payment cards, as opposed to paper checks. (Payments will be in Caribbean dollars, even in Puerto Rico and the US Virgin Islands)- Defined fully on Page 89.
Remittance Solutions for Diaspora – By pursuing the e-Government / e-Payment strategy, the Caribbean Diaspora will be able to remit transfers back home by just loading values onto C$ payment cards [for free]. This simplified system will minimize transfer fees and furnish [Foreign Currency] (Fx) controls. – Defined fully on Page 154.

Having these many instances of electronic money solutions means that there must be a technocratic settlement / clearing entity. Enter the Central Bank of the Bahamas for the Bahamian offering. But for a regional deployment, Go Lean roadmap, we would need a regional Central Bank, enter the CCB.

Within its 370-pages, the Go Lean book provides details of the community ethos to adopt, plus the strategies, tactics, implementations and advocacies that are necessary to execute in order to deliver e-Money solutions to the Caribbean region. The book re-affirms the mantra that Internet & Communication Technologies (ICT) can be used as a great equalizer so that small nation-states can compete against large nation-states.

Update
Now a 2nd player – Kanoo – has entered the Bahamas Market – see samples (photos) of their Mobile App here:

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The points of effective, technocratic e-Money stewardship were further elaborated upon in many previous blog/commentaries. Consider this sample:

https://goleancaribbean.com/blog/?p=17515	Changing the Culture & Currency of Commerce
https://goleancaribbean.com/blog/?p=16836	Crypto-currency: Here comes ‘Trouble’
https://goleancaribbean.com/blog/?p=15923	Industrial Reboot – Payment Cards 101
https://goleancaribbean.com/blog/?p=14248	Leading with Money Matters – Almighty Dollar
https://goleancaribbean.com/blog/?p=10513	Transforming Money Countrywide – The Model of India
https://goleancaribbean.com/blog/?p=7034	The Future of Money
https://goleancaribbean.com/blog/?p=6635	New Security Chip in Credit Cards Unveiled
https://goleancaribbean.com/blog/?p=5668	Move over Mastercard/Visa, Time for Local Settlement
https://goleancaribbean.com/blog/?p=5210	Cruise Ship Commerce – Getting Ready for Change
https://goleancaribbean.com/blog/?p=4425	Cash, Credit or iPhone …
https://goleancaribbean.com/blog/?p=3889	RBC EZPay – Ready for Change
https://goleancaribbean.com/blog/?p=2074	MetroCard – Model for the Caribbean Dollar
https://goleancaribbean.com/blog/?p=1350	PayPal expands payment services to 10 markets
https://goleancaribbean.com/blog/?p=906	Bitcoin virtual currency needs regulatory framework to change image
https://goleancaribbean.com/blog/?p=528	Facebook plans to provide Fintech – Mobile payment services

One Step closer, is good progress, and is better than going in the wrong direction. An e-Money transformation will transform the economic landscape for the Caribbean region. This is good; our region needs a reboot!

In general, rebooting the region’s economics is not a new subject for this Go Lean movement; both the book and previous blog-commentaries have stressed rebooting. While every societal engine needs to be rebooted – including security and governance – all changes will stem from our economic initiatives. This was related in the opening of the Go Lean book as follows (Page 3):

The CU Trade Federation is a technocracy, empowered to reboot the economic engines of the member-states, by fostering new industries (new “purse”) across the entire region and deploying solutions to better exploit the opportunities of the global trade market.

Deploying e-Money solutions will be heavy-lifting; but it is worth all the hard work. Let’s lean-in to the Go Lean roadmap to reboot our economic-fiscal-monetary engines. Let’s build on this First Step; one country down, 29 more to go. (See the Appendix below, entitled “Island Pay Launches its first Caribbean Mobile Payment Solution in The Bahamas using Samsung technology”). This is how we can make our Caribbean homeland a better place to live, work and play. 🙂

Optimize the economic engines in order to grow the regional economy to $800 Billion & create 2.2 million new jobs.
Establish a security apparatus to ensure public safety and protect the resultant economic engines ; where there is economic successes, “bad actors” always emerge, so there must be a solution for predictive and reactive mitigations and interdictions.
Improve Caribbean governance to support these above engines. This include a separation-of-powers between the member-states and CU federal agencies, including the independent administration of the Caribbean Central Bank.

Download the free e-Book of Go Lean … Caribbean – now!

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xvi. Whereas security of our homeland is inextricably linked to prosperity of the homeland, the economic and security interest of the region needs to be aligned under the same governance. Since economic crimes … can imperil the functioning of the wheels of commerce for all the citizenry, the accedence of this Federation must equip the security apparatus with the tools and techniques for predictive and proactive interdictions.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

xxvii. Whereas the region has endured a spectator status during the Industrial Revolution, we cannot stand on the sidelines of this new economy, the Information Revolution. Rather, the Federation must embrace all the tenets of Internet Communications Technology (ICT) to serve as an equalizing element in competition with the rest of the world. The Federation must bridge the digital divide and promote the community ethos that research/development is valuable and must be promoted and incentivized for adoption.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

—————–

Appendix – Island Pay Launches its first Caribbean Mobile Payment Solution in The Bahamas using Samsung technology

NASSAU (GLOBE NEWSWIRE) — Island Pay, an electronic money mobile payment provider, will roll out the Contactless Companion Platform (CCP) – a digital cash service allowing consumers to load money onto cards, fobs and a range of wearable items. The new service will allow Bahamians and visitors alike to make contactless payments between themselves or with Island Pay merchants across the whole of the island archipelago. CCP is running on secure chip technology from Samsung Semiconductor, the software application platform is provided by Smartlink, a Swiss fintech specializing in mobile and alternative payment solutions.

Frank Svatousek, Island Pay CEO said, “By adding Smartlink to the Island Pay platform we bring immediate, critical benefits to our Bahamian customers including easy bill payment, mobile top-up and merchant solutions. The launch of the Island Pay cashless payment system, licensed by the Central Bank of The Bahamas, comes at a time when bricks and mortar banks are reducing their footprint allowing us to serve the under-banked as well as the un-banked.”

The Smartlink CCP solution brings contactless digital cash to everyone in all levels of society,” says Eric La Marca, CEO and founder of Smartlink. “With CCP in place, you can make contactless payments via any enabled device of your choice, whether it’s a dedicated smart card, wristband, key fob, or even your smart watch or ring. As long as it’s able to accommodate the secure chip technology from Samsung, there’s hardly any shape or size limit.”

Among the benefits of Island Pay Mr. Svatousek explained that, “It’s a tokenized service, making it as secure as existing mobile payments services. It gives parents the ability to safely transfer money to their children and ensure they can only spend it on what the parents want and with its Web-based or smartphone app interface, available for iOS and Android, it allows users to manage the service and deactivate the chip in the card, fob or wearable item if it is lost. We are thrilled to be working with Samsung and Smartlink as it brings together a powerful combination of security, control and utility for our consumers throughout The Bahamas.”

About Island Pay
Island Pay was founded in 2016. The company recognizes the strong business case for mobile electronic money providers seeking to re-do the way consumers interact with payments, authentication and identity, especially in underserved areas of the globe. Before Island Pay, management co-founded Carta Worldwide and Mint Technology. More information can be found on the Island Pay website.

About Smartlink SA
Smartlink SA, a fintech company based in Switzerland, is a pioneer in the payment industry. Smartlink offers an award-winning platform to banks and card issuers seeking a first-class mobile wallet application. Its innovation team has recently developed the disruptive Contactless Companion Platform which will be deployed worldwide, to facilitate cashless societies using Digital Cash. For more information, please visit www.smartlink.ch

For further Information contact:

Frank Svatousek, CEO
Island Pay
media@islandpay.com

Sébastien Piolat
Smartlink SA
sebastien.piolat@smartlink.ch

Source: Island Pay Ltd posted September 11, 2018; retrieved October 28, 2019 from: https://www.globenewswire.com/news-release/2018/09/11/1568977/0/en/Island-Pay-Launches-its-first-Caribbean-Mobile-Payment-Solution-in-The-Bahamas-using-Samsung-technology.html

—————–

Appendix VIDEO – Island Pay discusses Samsung NFC technology – https://youtu.be/aBcBtcHE7Hs

Category: People & Blogs

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Banks, e-Commerce, ICT, Transform. Bahamas

[Top]

Changing the Culture & Currency of Commerce

Posted on May 27, 2019 in Economics, Ethos, Industries

Go Lean Commentary

Change is hard!

It does not just happen – in the positive direction – by itself. Someone (or some group) has to make it happen; they inspire it, communicate it and compel it to manifest. This is especially true of “commerce”.

commerce
noun 2. the exchange or buying and selling of commodities on a large scale involving transportation from place to place.
Usage example: a major center of commerce; interstate commerce

We want to change Caribbean commerce. We want to make it Bigger, Better and Faster.

Bigger – Yes, we want to go from local markets to a regional Single Market. Imagine all 30 Caribbean member-states with 42 million people and the potential to produce $800 Billion in GDP.
Better – Free Market would be better for Caribbean economics as opposed to the restricted controls of extreme socialism; think Cuba. Yet, many other member-states have policies and practices that are socialistic in their priorities; i.e. Antigua & Barbuda does NOT allow for private property ownership on Barbuda. (This smells like communism).
Faster – We want more and more electronic commerce options. This means a comprehensive Marketplace & Social Media (www.myCaribbean.gov) plus the delivery-logistics options of the optimized Caribbean Postal Union (CPU), a subset of the Caribbean Union Trade Federation (CU).

Forging change in Caribbean commerce will require a change in culture … and currency.

Culture
The current Caribbean culture for “commerce” is bad! A previous blog-commentary vividly described this definition of culture:

This definition of culture refers to community ethos; this is defined in the book Go Lean … Caribbean (Page 20) as …

… the fundamental character or spirit of a culture [group or community], the underlying sentiment that informs the beliefs, customs, or practices of a group or society; the dominant assumptions of a people or period.

Culture allows “you” to overcome obstacles; endure the heavy-lifting of a turn-around; invest in future success based on promising talents; stay the course of a roadmap, rather than “giving up” and fleeing for the appearance of greener pastures elsewhere. Culture dictates devoting “blood, sweat and tears” to a community cause, to give a full measure of devotion. We can learn so much by examining organizations and communities of great accomplishments.

In another previous blog-commentary, it was detailed how one Caribbean member-state, the US Virgin Islands, suffers from higher consumer prices due to the challenging logistics of island life … plus the bad community ethos of rent-seeking. So implementing an e-Commerce eco-system should have a positive impact on reducing the cost of living for all citizens.

Currency
The Caribbean currency also needs attention. For the 30 member-states in the region, there are many different currencies: local dollars (i.e. Bahamas, Barbados, Cayman, Cuba, Dominican Republic, Jamaica and Trinidad), sub-regional dollars (Eastern Caribbean) and International Reserve monies (Euros and US dollars). The attention that the new Caribbean needs is a new currency for its commercial activities, especially e-Commerce.

Welcome to the Caribbean Dollar (C$).

As related in yet another previous blog-commentary…

… the book Go Lean … Caribbean proposed a monetary-currency (Caribbean Dollar or C$) solution involving a cooperative of the Central Banks already in the region, dubbed the Caribbean Central Bank (CCB). …. There is already currency interdependence for many member-states [with the sub-regional currency and the International Reserve currencies]. …

Now, we can launch our own crypto-currency and electronic payments, clearing and settlements from this strong foundation. The missing ingredient, Trust, would be fulfilled.

Rolling out a regional currency will be a Big Idea and Big Undertaking. The book states (Page 127):

Currency Union / Single Currency
Apolitical technocratic monetary control, by the Caribbean Central Bank (CCB), and foreign trade with a globally respected currency allows for the methodical growth of the Caribbean economy without the risk of hyper-inflation and/or currency devaluations. The CU/CCB trades in Caribbean Dollars (C$) of which the currency’s reserves are a mixed-basket of strong foreign currencies: US Dollars, Euro, British Pound and Japanese Yen.

For us in the Caribbean to transform to a digital currency will require country-wide implementations. Fortunately, other countries have done this already … successfully. We would need to study (look, listen and learn) their experiences, good and bad. Consider the experience of the European country of Italy and their autonomous region/island of Sardinia:

VIDEO – Sardinia’s virtual currency – https://youtu.be/6qqKvctFZt0

CBS Sunday Morning
Published on Aug 6, 2017 – On the island of Sardinia, thousands of firms are not using traditional money to buy, sell, or pay salaries. They use Sardex, a virtual currency that allows businesses to earn and spend without relying on the Euro, or on banks that wouldn’t lend. Seth Doane reports on how the Mediterranean island is creating a new kind of wealth.

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Category: News & Politics

———

Title: Italy’s B2B cashless Sardex currency set to take on the world

Directors of Sardex, a regional mutual credit network encompassing several thousand small and medium-sized businesses on the Italian island of Sardinia, are thinking big — even globally — but moving cautiously.

By: Nils Zimmermann

The basic idea behind Sardinia’s business-to-business (B2B) electronic credit system is a simple one, even if its execution is somewhat more complex.

The country’s first regional currency, Sardex, gives several thousand participating small- and medium-sized enterprises (SMEs) the opportunity to participate in a system of mutual credit and do business with other local companies.

Sardex’s business development team recruits a balanced portfolio of carefully screened Sardinian SMEs, such as electricians, plumbers, glaziers, carpenters, retailers, café owners, farmers, or small manufacturing businesses, to participate in the Sardex business network. Participating SMEs pay a flat annual fee to join. Once members, they gain access to new prospective customers and suppliers.

See the remaining of the article in the Appendix below.

The lessons-learned from the experiences of Sardinia are concise: currency and credit can be fostered regardless of the support of Big Banks or existing capital. This theme also aligns with previous Go Lean commentaries; see a sample list here:

https://goleancaribbean.com/blog/?p=16848	Two Pies: Economic Plan for a new Caribbean
https://goleancaribbean.com/blog/?p=16530	International efforts to de-Americanize the world’s economy
https://goleancaribbean.com/blog/?p=16210	Mitigating the Real Threat of Currency Assassins
https://goleancaribbean.com/blog/?p=15923	Industrial Reboot – Payment Cards 101
https://goleancaribbean.com/blog/?p=14248	Leading with Money Matters – Almighty Dollar vs Caribbean Dollars
https://goleancaribbean.com/blog/?p=13744	Rebooting Caribbean Economics: The Quest for a ‘Single Currency’
https://goleancaribbean.com/blog/?p=8704	Lessons from MetroCard – Model for the Caribbean Dollar
https://goleancaribbean.com/blog/?p=7034	The Future of Mobile Money Payment Systems

These previous commentaries all depict that it is conceivable, believable and achievable for the banking stakeholders in the Caribbean to deploy a new currency regime. In order to consider an e-Commerce culture, we must have the banking products in place … first. These innovations will bring so many benefits that we must embark on the roadmap to manifest these changes. We have already started … with the planning. Just notice these last 4 blog-commentaries published by the Go Lean movement:

Continuity of Business: Learning from Instagram’s system failures	e-Commerce sites require good management to maintain systems up-time and to minimize downtime.
Wal-Mart now doing ‘Next Day’ deliveries	Optimal logistics allow e-Commerce merchants to optimize the shopping experience.
Bad Ethos Retarding ‘New Commerce’	Bad government policy can curtail e-Commerce progress. For restaurants, a mandatory gratuity policy on take-out orders is just plain rent-seeking, a bad ethos.
Moving Forward with Transportation Solutions	The Caribbean does not have the highway networks to facilitate cheap shipping options, but we can deploy a network of ferries in our Union Atlantic Turnpike scheme.

This commentary now – Culture and Currency – completes this series on the preparation for e-Commerce in the Caribbean. This whole collection depicts the heavy-lifting that regional stakeholders must do. Let’s lean-in for this effort. This is how we can make our homeland a better place to live, work and play. 🙂

Optimization of the economic engines in order to grow the regional economy to $800 Billion & create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.

Download the free e-Book of Go Lean … Caribbean – now!

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xvi. Whereas security of our homeland is inextricably linked to prosperity of the homeland, the economic and security interest of the region needs to be aligned under the same governance. Since economic crimes … can imperil the functioning of the wheels of commerce for all the citizenry, the accedence of this Federation must equip the security apparatus with the tools and techniques for predictive and proactive interdictions.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

————–

Appendix – Italy‘s B2B cashless Sardex currency set to take on the world – Cont’d

…

Marketing help
All Sardex members have access to a searchable database of all the network’s members. They can post trade offers on Sardex’s web platform, and they’re encouraged to look for business opportunities within the network. Many join WhatsApp or Telegram groups comprising hundreds of members, to stay in touch and make each other aware of offers.

In addition, Sardex employs deal brokers whose job is to identify possible trading opportunities within the network. The brokers call up business owners to suggest deals, for example, by proposing plumbers, electricians, and builders they could cooperate with on a local construction project.

New business
“The point of Sardex is to facilitate new sales that would otherwise not occur, and make use of idle capacity,” said Giovanni Dini, who works on Sardex’s research and development team. “By joining Sardex, a participating SME should see growth in its transaction volume with other Sardinian businesses.”

Each new member’s annual fee is individually negotiated, and amounts to a small fraction of its estimated underutilized business capacity.

A mutual credit club
Members avoid paying each other for goods and services through normal financial channels. Instead of using cash, bank transfer, or standard credit cards to settle transactions, the euro-denominated amount (1 SRD equals €1, $1.16) can be recorded as a debt the buyer owes the Sardex network, not the seller. The seller, in turn, records a credit to their Sardex account. This credit is, in effect, a debt owed by Sardex to the seller.

In this way, Sardex members can buy and sell from each other even if they’re cash-strapped, or have difficulty gaining bank credit. As an added benefit, there is no interest charged or paid on Sardex account balances.

Participants are expected to keep their Sardex account level within individually agreed maximum credit or debt levels —usually a few thousand Euros. Members must buy as well as sell, and the net amount of credit or debt on purchases and sales made on their Sardex account should net to zero over the course of a year.

Limits on transaction volume
There are limits to the volume of trade a Sardex member can or should do, as a proportion of its total business volume. “We recommend no more than 30 percent of the total,” Dini told DW. “Most of that should be additional transactions, i.e., sales that would not have been made if the business hadn’t been a member of the Sardex network.”

A key reason for the 30 percent limit: Value-added taxes continue to be due on all transactions, and taxes are only payable in conventional bank Euros or in cash. If a business were to do 100 percent of its trade in Sardex credits, it would end up owing a lot of Euros to the Italian treasury, but would have no Euros in the bank to pay its taxes.

Tourism, construction and retail are among the sectors most active within the network.

Growing business volume
Dini said the total volume of business in Sardex credits transacted on Sardinia in 2016 was just over €67 million ($87 million). In 2017, it was nearly €81 million.

Those numbers don’t include transactions in 11 additional regions of Italy where Sardex has initiatied B2B credit clubs within the past couple of years, all of them using the same web- and app-based credit circuit technology platform Sardex developed for Sardinia, but each running its own separate regional B2B credit circuit. Veneto, Marche, and Lombardy are among the 11 regions.

“We’re looking at enabling interregional trade as well, i.e., transactions between credit circuit members from different regions,” Dini said.

“We have to be careful,” Dini added, “our top priority is increasing within-region trade. Sardex was founded as an instrument to stimulate jobs and trade within Sardinia, one of Italy’s economically depressed regions. If we open interregional trade too much, we’ll end up reproducing the same imbalances in trading relationships that already exist, with some regions being big net exporters and others running up debts as net importers.”

Is small beautiful?
In each region, Sardex has partnered with a local entrepreneur to run credit-club recruitment and operations. Transaction volumes outside Sardinia totalled €14 million in 2016; they nearly doubled to €26 million in 2017.

Given that Italy’s GDP in 2017 was about €1.72 trillion, these numbers are tiny in comparison. But members of one of these regional B2B credit clubs can see meaningful benefits at their own scale of activity, for example, a tradesman or tour operator might see an extra €30,000 a year in transactions.

Sardex had signed up a total of 3,896 SMEs as full members as of June 2018. The total SME membership for all 12 regional networks was 8,512. After Sardex, the top three regional networks at present are Marchex with 1,010 B2B members (2013 start), Linx with 894 (2015 start), and Venetex with 514 members (2016 start), respectively in the Marche, Lombardy and Veneto regions.

National and international interest
The Sardex model has been successful enough that it has attracted attention from all over Europe, and even beyond: “We’ve had non-government organisations, entrepreneurs, regional and municipal governments, and even one national government come to us and express interest in setting up a mutual credit network using our platform,” Dini said.

But Sardex’s founders and managers are moving carefully, to avoid over-extending their capacities, and to ensure that they have thoroughly worked out all aspects of the business on Sardinia first, the researcher and developer added.

The importance of the man on the ground
Some of the regional credit circuits Sardex has set up with partners in other regions are doing better than others. According to Dini, the most progress has been made in Italian regions which are already relatively prosperous, such as the Veneto and Marche regions.

Factors driving a regional network’s success, according to Dini, include, “the skill of the partner team on the ground, their dedication, and their luck. They need a good pitch for recruiting new members, they need to know their territory well, they need good salespeople.”

In addition, it makes a difference how big a region’s pool of SMEs is, Lombardy or Veneto have multiple times more businesses than Sardinia or other southern Italian regions, which makes member recruitment easier.

“The online credit circuit platform itself is only one element for building a successful mutual credit network,” Dini emphasised. “Going out and recruiting new members face-to-face, teaching them how to use the platform effectively, providing effective deal-brokerage services — these are essential too.”

Sardex has indicated it’s in touch with entrepreneurs in Germany and elsewhere to discuss the possibility of setting up a regional B2B credit circuit there as well, and the company hopes to be able to announce its first step beyond Italy sometime in early 2019.

“We’re seeing that our B2B credit circuit model is interesting to entrepreneurs in prosperous regions too, not only to businesses in economically depressed regions.”

Source: Deutsche Welle – German Business News Site – Posted September 5, 2018; retrieved May 25, 2019 from: https://www.dw.com/en/italys-b2b-cashless-sardex-currency-set-to-take-on-the-world/a-45300395

———

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Banks, e-Commerce, EU, Model, Transform

[Top]

Continuity of Business: Learning from Instagram’s system failures

Posted on May 23, 2019 in Implementation, Industries, Planning

Go Lean Commentary

Spent time on Social Media lately? It’s all the rage!

Most Social Media sites – think: Twitter, Facebook and Instagram – allow consumer accounts for free. Their business model is to sell “eye balls”, advertisements based on a large (and growing) viewing audience. The goal of this business model is to fulfill the promise of being connected with friends (physical and virtual); following the sun … with 24-7-365 coverage.

(This writer, while living in North America, has actual friends on Facebook who live and work in India and Pakistan).

According to a previous blog-commentary, Continuity of Business (CoB) is the simple concept to ensure that if there are any extraordinary events – i.e. emergencies and natural disasters – that the tools and techniques are in place to pick-up and continue for business-as-usual. This is important for these Social Media business models.

For these sites, if the promise of 24-7-365 is broken, then it is Big News. See the example here of the recent incident with Instagram and the related VIDEO (of an earlier outage in March):

Title: Instagram back online after a worldwide outage left irritated users complaining of being unable to load pictures on the site

The issue focused around new content on the site not loading correctly

It appeared that existing and older content could still be seen and viewed

The latest stories were also unable to be found or seen by users on the app

By: Joe Pinkstone For Mailonline

Instagram crashed for some users around the world, with people complaining they were unable to load new pictures on the app.

Reports have now stopped coming in and it appears to be resolved, but there is no official word from the Facebook-owned site.

The home page was displaying older pictures but new content failed to appear, at least for some users.

The problem stretched to stories as well, although older stories could still be loaded and viewed.

The reason behind the issue remains unknown but the outage started around 3:37pm BST.

Affected areas included Europe, Australia, South America and the mainland US and a smattering of users complained of login and website trouble (seven and five per cent of complaints, respectively).

But the primary issue appeared to be with the news feed as 86 per cent of all issues centered around the lack of content loading, according to outage site “downdetector“.

This was the second outage of the last 24 hours for Instagram as a spike in user complaints was also seen around 8pm BST yesterday.

It comes exactly a month after the Mark Zuckerberg empire of Facebook, Instagram and WhatsApp was struck by a huge outage.

Facebook and Instagram were forced to apologise after users at this time were unable to load the sites and were faced with a ‘can’t be reached’ message for four hours.

Whatsapp, owned by Facebook, also suffered a four hour outage for some users internationally.

Downdetector.co.uk reported over 7,700 complaints that Facebook was down in the UK.

MailOnline has approached Instagram for comment.

Source: Published May 14, 2019 Retrieved May 23, 2019 from: https://www.dailymail.co.uk/sciencetech/article-7028163/Instagram-CRASHED-people-world.html

———-

VIDEO – Facebook was down for hours on Wednesday, including Instagram and Messenger – https://youtu.be/36z5hMH-2qk

CBS News
Published on Mar 13, 2019 – Facebook was partially down in the United States on Wednesday. In many cases, the platform wasn’t working at all. BBC News’ Dave Lee reports from San Francisco.

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Category: News & Politics

There is a plan for a home-grown Social Media site for the Caribbean, my.Caribbean.gov. This is embedded in the book Go Lean…Caribbean, which serves as a roadmap for the introduction and implementation of the technocratic Caribbean Union Trade Federation (CU). There will be the need to employ our own CoB strategies, tactics and implementations to ensure 24-7-365 compliance. This means learning lessons from other sites like Facebook and Instagram; (same company by the way). Our CoB plans must be “Step One, Day One” in the Go Lean roadmap.

The Go Lean book features one advocacy (Page 111) for fostering Social Media sites in the Caribbean. That advocacy is entitled: “10 Ways to Impact Social Media“. These “10 Ways” include the following highlights, headlines and excerpts:

1	*Lean-in for the Caribbean Single Market* – Ratify treaty for the CU.** This treaty allows for the unification of the region into one market, thereby expanding to an economy of 30 countries, 42 million people and GDP of over $800 Billion (circa 2010), thereby creating the economies of scale to deploy technology investments such as web portal www.myCaribbean.gov and e-Deliveries. The portal will grant free access, email, IM, and profile pages for CU stakeholders (resident, visitor & Diaspora). The CU will also facilitate deployments of Libraries through out the region. These edifices will serve as learning centers and arrange for the public’s access to the Internet.
2	CU Social Media Home Pages – Facebook & Twitter The CU will use Facebook (FB) & Twitter for normalized communications with stakeholders. The CU will feature its own channel on Facebook and Twitter for publishing notices and accessing the www.myCaribbean.gov portal. CU users can even log-on to the portal with FB or Twitter user profiles. Trending data will be published and available for data-mining.
3	Hi Density Wi-Fi & Mobile
4	Diaspora Marketing & Tourism Outreach
5	CU Asian Outreach
6	Contact Center for e-Government Services
7	Contact Center for Tech Support
8	Reverse-911 Messaging
9	Postal Union Interface The accedence of the CU will transfer jurisdiction of the region’s postal efforts to the Caribbean Postal Union. The CPU will employ hybrid e-mail/postal mail schemes (Last-leg, First-leg, FB/Twitter delivery notification) to facilitate efficiency.
10	Big Data Informatics

Internet & Communication Technologies are regarded as the “great equalizer”; it is where small states and large states are able to easily compete on the basis of merit, talent and competence, not just population size. The theme of doubling-down on the ICT & ‘Social Media’ landscape has been detailed in many previous Go Lean commentaries; consider this sample list here:

https://goleancaribbean.com/blog/?p=15075	e-Government 3.0 – Improved governance is the first benefactor of ICT & Social Media
https://goleancaribbean.com/blog/?p=11453	Location Matters – For location of Data Centers – even in a Virtual World
https://goleancaribbean.com/blog/?p=9839	Alibaba Cloud stretches global reach with four new Data Center facilities
https://goleancaribbean.com/blog/?p=8823	Lessons from China – WeChat: Model for Caribbean Social Media
https://goleancaribbean.com/blog/?p=4381	Net Neutrality and the innovation culture – It must matter here in the Caribbean

The Caribbean’s Social Media offering is just a subset of the overall Electronic Commerce (e-Commerce) landscape. This can lower the cost of living and doing business in the homeland. In order to furnish the prospects of e-Commerce, we need to have our Caribbean Cloud enabled all the time, the whole 24-7-365.

Will we suffer from the periodic outages as Instagram just reported?

The Go Lean roadmap prepared for this eventuality with its Data Center “Arts & Sciences”; notice this excerpt from Page 106:

High Availability (HA)
HA is a system design approach (hardware, software and networking) that ensures operational performance will be met, like parallel processing or mirroring. There are systems (i.e. hospitals, banking, electrical grid) that must maximize availability and minimize downtime. Recovery time or estimated time of repair is closely related to availability, optimizing the time to recover from planned or unplanned outages.
A CU mission is to facilitate quick recoveries after hurricanes [and other disasters].

ICT, Social Media and e-Commerce are positioned to impact Caribbean communities. Compared to our status quo, we must be better than the examples in the foregoing stories; we must sustain our systems and processes. This is how we will be a better homeland to live, work and play. 🙂

Optimization of the economic engines in order to grow the regional economy to $800 Billion & create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.

Download the free e-Book of Go Lean … Caribbean – now!

———

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xvi. Whereas security of our homeland is inextricably linked to prosperity of the homeland, the economic and security interest of the region needs to be aligned under the same governance. Since economic crimes … can imperil the functioning of the wheels of commerce for all the citizenry, the accedence of this Federation must equip the security apparatus with the tools and techniques for predictive and proactive interdictions.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

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Disaster, e-Commerce, Model

[Top]

Wal-Mart now doing ‘Next Day’ deliveries

Posted on May 22, 2019 in Economics, Industries, Strategy

Go Lean Commentary

Wal-Mart, the Big-Box store, is now doing Next Day deliveries.

This is earth-shattering news! See the VIDEO here and the full story in the Appendix below.

VIDEO – Wal-Mart rolls out free next-day delivery service – https://finance.yahoo.com/video/walmart-rolls-free-next-day-132555700.html

The whole business model of Big-Box was bringing the customer to one destination, where they can find so many things in one place. Now, instead of the customer coming to the Big-Box, Wal-Mart – America’s largest employer – is coming to the customer.

The retail landscape is undergoing change; this is the actuality of the Retail Apocalypse as we have described in this previous commentary:

The underlying issue with the Retail Apocalypse is not the demand for retail products, it is the supply. Consumers are still demanding and consuming fashion and commodities, just not at shopping malls; e-Commerce is “all the rage”.

In a David versus Goliath analogy, Wal-Mart would be Goliath. (Amazon is equally giant-sized as an e-Commerce offering).

The Empire Strikes Back
The Retail Apocalypse change in this case is the Internet or e-Commerce (Electronic Commerce). But in the Appendix article, we see that the biggest brick-and-mortar retailer – the Empire: Wal-Mart – is striking back. They are using their Big-Box reality to foster an advantage for their business operations. This could be good for consumer choice. It is definitely good for modeling and learning-lessons for the Caribbean.

The topic of Big-Box is familiar for the movement behind the book Go Lean…Caribbean; it includes this excerpt (Page 201):

The Bottom Line on Big-Box Stores

A big-box store (also supercenter, superstore, or megastore) is a physically large retail establishment, usually part of a chain. The term sometimes also refers, by extension, to the company that operates the store. The store may sell general dry goods in which case it is a department store, or may be limited to a particular specialty (such establishments are often called “category killers”) or may also sell groceries. Typical architectural characteristics include the following:

Large, free-standing, rectangular, generally single-floor structure built on a concrete slab. The flat roof and ceiling trusses are generally made of steel, the walls are concrete block clad in metal or masonry siding.
The structure typically sits in the middle of a large, paved parking lot, sometimes referred to as a “sea of asphalt.” It is meant to be accessed by vehicle, rather than by pedestrians.
Floor space several times greater than traditional retailers in the sector, providing for a large amount of merchandise; in North America, generally more than 50,000 square feet, sometimes approaching 200,000 square feet. In cities, like London, where space is at a premium, stores are more likely to have two-plus floors [and smaller numbers overall].

Commercially, big-box stores can be broken down into two categories: general merchandise (examples include Wal-Mart and Target), and specialty stores (such as Menards, Barnes and Noble, or Best Buy) which specialize in goods within a specific range, such as hardware, books, or electronics. In recent years, many traditional retailers – such as Tesco and Praktiker – have opened stores in the big-box-store format in an effort to compete with big-box chains, which are expanding globally.

Some worry about the economic impact of big-box retailers on established downtown merchants or the sprawl-inducing impacts on character of such developments, as these stores are associated with heavy traffic near the stores.

This Big-Box retail concept is not just limited to the US mainland. Many of the Big-Box players have locations in many other countries …

… including the Caribbean. Wal-Mart’s Caribbean locations are only in Puerto Rico:

Source: https://corporate.walmart.com/our-story/our-locations#/united-states/puerto-rico

The business model prescribed in the Go Lean book envisions more of such installments in the Self-Governing Entities spread throughout the region; the book serves as a roadmap for the introduction and implementation of the technocratic Caribbean Union Trade Federation (CU), for the elevation of Caribbean economic engines. The book states (Page 234):

Self-Governing Entities
The CU will promote and administer all self-governing entities (SGE) throughout the region. This refers to scientific labs, industrial parks, commercial campuses, experimental hospitals, and even foreign bases. These facilities will not be subject of the laws of the local states of their address, [but] rather CU [federal regulations tied to different standards:] international, foreign sovereignty, or maritime laws; but depend on the local infrastructure to provide basic needs. Thereby creating jobs and economic activity.
…

Some mixed-use urban initiatives envisioned by the CU include: Main Street / Downtown Developments …

The Go Lean book also provides for effective strategies, tactics and implementations so as to be better in competition with Big-Box stores. See this excerpt here (Page 201):

Big-Box Competition: Cooperatives
The strategy of Big-Box stores is volume discounts. They purchase merchandise in bigger volumes that thereby garner bigger discounts from manufacturers. To compete against this reality, Main Street businesses need the benefits of aggregation and sharing their burdens with aligned firms. The formal Cooperatives movement allows such benefits.

Big-Box Competition: e-Commerce
Electronic commerce holds the promise of “leveling the playing field” so that small merchants can compete against larger merchants. To facilitate e-Commerce, purchased merchandise must get to their destinations as efficiently as possible. The CU’s implementation of the Caribbean Postal Union allows for better logistics for package delivery.

The Go Lean book (Page 57) has identified these trends – Globalization and Technology – as Agents of Change but it can frankly be described as Agents of Disruption or Agents of Destruction. For downtown merchants, Big-Box stores are disrupting their business models. For Big-Box merchants, e-Commerce is disrupting their business models. No matter your station on the retail industry vertical, there will always be competition and Agents of Disruption to contend with.

The lesson-learned for the planners for a new Caribbean is to always be On Guard for competition and to respond accordingly, with the best-practices for strategies, tactics and implementations. This is the Way Forward for retail operations in the Caribbean region. The roadmap describes how an optimized postal operation can be leveraged across 42 million people in the 30 Caribbean member-states, then we would be able to better deploy our e-Commerce offerings. The book states (Page 198):

Regional Postal Services – CPU
The CU will assume the responsibility for mail services in the region; (all member-state postal employees will become federal civil servants). The embrace of the Caribbean Postal Union allows for parcel mail to be optimally shipped and delivered throughout the region, with Customs considerations in place. The CPU will therefore ensure the fulfillment side of e-commerce, even allowing for computer applications for printing electronic stamps/barcodes for value savings.

This theme – fostering an e-Commerce eco-system – aligns with previous blog-commentaries; see these Amazon lessons here:

https://goleancaribbean.com/blog/?p=12291	Amazon’s e-Commerce – The Retailers’ Enemy
https://goleancaribbean.com/blog/?p=1416	Amazon’s Smartphone model for e-Commerce

We need to be On Guard for other disruptions as well. The Caribbean is losing in competition with the rest of the world. We continue to lose our young people to foreign shores. One report has listed the abandonment rate at 70 percent of the tertiary-educated population; many times, the expatriates leave seeking jobs and other economic opportunities. This is not a sustainable reality for us. We must do better.

Consider this Wal-Mart story and the lessons we glean; with more e-Commerce and delivery offerings, we can create jobs and grow our economy right here at home. This will help us make our homeland a better place to live, work and play. 🙂

Optimization of the economic engines in order to grow the regional economy to $800 Billion & create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.

Download the free e-Book of Go Lean … Caribbean – now!

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xv. Whereas the business of the Federation and the commercial interest in the region cannot prosper without an efficient facilitation of postal services, the Caribbean Union must allow for the integration of the existing mail operations of the governments of the member-states into a consolidated Caribbean Postal Union, allowing for the adoption of best practices and technical advances to deliver foreign/domestic mail in the region.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

—————

Appendix – Walmart launches free next-day delivery with no membership fee
By: Julia La Roche, Yahoo Reporter

Walmart (WMT) just upped the stakes in the shipping wars with its latest offering — free next-day delivery with no membership fee.

Shoppers on Walmart.com can access NextDay delivery via a stand-alone function where they can browse up to 220,000 of the most commonly purchased items, everything from diapers to cleaning products to toys and electronics.

“Think of things like Bounty paper towels, some of our Great Value paper lunch plates, flushable wipes, diapers, dog food. Everything from that to a Little Tikes toy set,” Janey Whiteside, Walmart’s chief customer officer, told Yahoo Finance. “It’s a combination of items that you forget that you need and you need them in a rush. If I’m a busy mom and I look at the diary and realize that tomorrow I have a kid’s birthday party and I’ve forgotten to buy a present, there are things in there for that. There are consumable items. You’ll see a range of things that we know the customers are looking for.”

Orders of $35 and up are eligible for NextDay delivery, and the offering will debut in Phoenix and Las Vegas before expanding to Southern California.

“It will roll out gradually over the coming months, with a plan to reach approximately 75% of the U.S. population this year, which includes 40 of the top 50 major U.S. metro areas,” Marc Lore, CEO of Walmart e-Commerce U.S., wrote in a blog post.

In the blog, Lore said the service “isn’t just great for customers, it also makes good business sense.”

“Contrary to what you might think, it will cost us less – not more – to deliver orders the next day,” he wrote.

The reason it won’t cost as much is that the items will ship from one fulfillment center nearest the customer, he explained.

“This means the order ships in one box, or as few as possible, and it travels a shorter distance via inexpensive ground shipping. That’s in contrast to online orders that come in multiple boxes from multiple locations, which can be quite costly,” Lore wrote.

That said, some are still skeptical about the expense associated with the new offering.

“My reaction is that it’s awesome for customers. For you and me, it’s great. We get more options, and it’s going to be faster to get anything we order,” Sucharita Kodali, a retail analyst at Forrester, told Yahoo Finance, before adding, “Is it great in the long-term from an expense standpoint? Is this the most efficient way? I think that question hasn’t been answered.”

Walmart’s NextDay lets customers shop up to 220,000 of the items most frequently purchased items, ranging from diapers and laundry detergent to toys and electronics.

Kodali doesn’t think shoppers are likely to turn down free, expedited shipping.

“The shopper doesn’t value it for what it is — an incredibly expensive endeavor,” Kodali said.

To Walmart’s credit, though, she said the retailer is approaching it in a “smart way,” by launching in a couple of cities with a finite number of eligible items and a threshold of $35.

“[They’re] trying not to lose their shirt while doing it,” she said, later adding, “All of those are incredibly important to making it successful.”

King Kong v. Godzilla
Walmart’s move is helpful in the “King Kong versus Godzilla fight” Walmart is in with Amazon, Kodali added.

In late April, Amazon (AMZN) said it would spend $800 million in the second quarter to speed up its delivery to one day from two for all its Amazon Prime members. Presently, the e-commerce giant offers free two-day shipping and same-day delivery on $35 orders for eligible items in specific areas. A Prime membership costs $119 per year.

Shortly after the Amazon news broke, Walmart hinted at its future plans around delivery.

“Both retailers are climbing up the next rung of immediacy. It’s another form of convenience,” Laura Kennedy, a vice president at Kantar Consulting, said. “Not every shopper is going to need it or think it’s the most convenient option.”

Forrester’s Kodali sees Walmart’s move as more about maintaining wallet-share and not surrendering that opportunity to Amazon.

“I think that’s really the crux of what this is,” she said.

What’s more, there’s also the potential for Walmart to attract a different shopper from that core shopper.

Kodali believes that Walmart’s online grocery pickup and delivery, especially with the convenience and broad organic offering, has already broadened the retailer’s appeal. The new NextDay offering is billed as a “complement” to Walmart’s same-day grocery delivery, which is expected to reach 1,600 stores by year-end.

“This has the ability to broaden the appeal. It’s all about incremental new customers,” Kodali said.

Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.

Source: Yahoo Finance – May 14, 2019; retrieved May 22, 2019 from: https://finance.yahoo.com/news/walmart-free-next-day-delivery-040200955.html?.tsrc=notification-brknews

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Bad Ethos Retarding ‘New Commerce’

Posted on May 21, 2019 in Economics, Ethos, Industries, Locations

Go Lean Commentary

Unlike most places, the Bahamas mandates that restaurants charge 18% gratuity … even for take-out operations. This is extreme, as gratuity is universally accepted as remuneration for the Wait Staff. But when the mode of operation is “take-out”, gratuity is superfluous – there is no Wait Staff.

Further, this “take-out gratuity” it is an example of …

rent-seeking – extracting uncompensated value from others without making any contribution – getting something for nothing.

To mandate gratuity under this extreme is really a bad community ethos – fundamental character or spirit of a culture; the underlying sentiment that informs the beliefs, customs, or practices of a group or society.

Remember, this old maxim:

The chickens have come home to roost
This expression was renewed by Malcolm X after the assassination of President John F. Kennedy, The adage dates back to at least 1810 when the English poet Robert South wrote, “Curses are like young chickens; they always come home to roost”. From an agricultural expression, it is true, domesticated foul may wander about all day – think Free Range – but in the evening, they do return to their default nesting location, the hen-house. This saying is comparing a person’s evil or foolish deeds to chickens. If a person does wrong, the “payback” might not be immediate. But at some point, at the end of the day, those “chickens” will come home to roost. “One has to face the consequences of one’s past actions”.

The lesson-learned is simple: we are NOT entitled to other people’s money.

Now, there is a New Economy, the bad attitudes about other people’s money have repercussions and consequences. Foolish policies like mandatory gratuity on take-out dinning are not tolerated under the New Economy regime. Places like the Bahamas – and other Caribbean member-states – must reform and transform.

The New Economy has brought forward a “Sharing Eco-System” in which industrial trends like ride-sharing, home-sharing and delivery assignments have emerged. There is now the concept of “ghost” restaurants – delivery services only; see details in the Appendices below.

Welcome to the Gig Economy.

Want a piece of this?
End mandatory gratuity on Restaurant Take-out activities!

All of these developments have created new jobs, new businesses and new opportunities. If we want a piece of this New Economy, then we have to adapt; we must rid ourselves of the bad community ethos and adopt some new ones. This theme – positioning our society for the New Economy – aligns with previous commentaries; see a sample list here:

https://goleancaribbean.com/blog/?p=17040	Uber: A Better ‘Mousetrap’
https://goleancaribbean.com/blog/?p=13916	Model of ‘Gig Economy’ – Mother’s Love in Haiti
https://goleancaribbean.com/blog/?p=10220	Waging a Successful War on Rent
https://goleancaribbean.com/blog/?p=8262	UberEverything in Africa – Model of ‘Gigs’
https://goleancaribbean.com/blog/?p=7646	Going from ‘Good to Great’
https://goleancaribbean.com/blog/?p=5542	Economic Principle: Bad Ethos of Rent-Seeking
https://goleancaribbean.com/blog/?p=2571	More Business Travelers flock to Airbnb

The Caribbean region must prepare and foster opportunities and dictate economic progress, so we must “weed out” bad practices and/or “rent” in our community ethos; instead we must pursue better ethos, as in the Greater Good. The book Go Lean…Caribbean defines this attribute as follows (Page 37):

“The greatest good to the greatest number of people which is the measure of right and wrong”. – Jeremy Bentham (1748 – 1832).

There are repercussions and consequences of bad community ethos. For one, people feel cheated, they leave-flee-abandon their homeland!

People may love their homeland, but seek refuge in more progressive societies, on foreign shores. The reasons why people leave in the first place have been identified as “Push and Pull”:

“Push” refers to the reasons people who feel compelled to leave, to seek refuge in a foreign land. “Refuge” is an appropriate word; because of societal defects – like unearned entitlements – many from the Caribbean must leave as refugees – think Disability, Domestic-abuse, Medically-challenged and LGBT – for their life, liberty and pursuit of happiness.
“Pull”, on the other hand refers to the lure of a more prosperous life abroad; many times our people are emigrating to communities where there are less rent-seeking and Crony-Capitalism practices.

If only we can mitigate these “push and pull” factors, then we can dissuade our societal abandonment and have a chance of reforming and transforming our societal engines in the homeland. Having an entitled attitude towards other people’s money is a bad attitude. The reality of the New Economy is premised on good business values and good societal values: Win-Win.

A Win-Win for Caribbean stakeholders is the motive for this movement behind the Go Lean book. We want to change – reform and transform – our Caribbean society by optimizing the eco-systems for economics, security and governance.

Yes, we can …

… it is heavy-lifting, but conceivable, believable and achievable that we can make changes and succeed in elevating our communities. This is about bad attitudes and bad habits. We have seen this before. The Go Lean book relates (Page 20):

Change is not easy …

Just ask anyone attempting to quit smoking. Not only are there physiological challenges, but psychological ones as well, to the extent that it can be stated with no uncertainty that “change begins in the head”. In psycho-therapy the approach to forge change for an individual is defined as “starting in the head” (thoughts, visions), penetrating the heart (feelings, motivations) and then finally manifesting in the hands (actions). This same body analogy is what is purported in this book for how the Caribbean is to embrace change – following this systematic flow:

Head – Plans, models and constitutions

Heart – Community Ethos

Hands – Actions, Reboots, and Turn-arounds

Leaning in and going lean for Caribbean regional integration hereto requires engaging all three body parts, figuratively speaking, none more important than the heart. The people of the Caribbean must change their feelings about elements of their society – elements that are in place and elements missing. This is referred to as “Community Ethos”.

Let’s get started. Let’s quit smoking, rent-seeking and all other bad habits and practices. This is how we can make our homeland a better place to live, work and play. 🙂

Optimization of the economic engines in order to grow the regional economy to $800 Billion & create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.

Download the free e-Book of Go Lean … Caribbean – now!

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xvi. Whereas security of our homeland is inextricably linked to prosperity of the homeland, the economic and security interest of the region needs to be aligned under the same governance. Since economic crimes … can imperil the functioning of the wheels of commerce for all the citizenry, the accedence of this Federation must equip the security apparatus with the tools and techniques for predictive and proactive interdictions.

xxi. Whereas the preparation of our labor force can foster opportunities and dictate economic progress for current and future generations, the Federation must ensure that educational and job training opportunities are fully optimized for all residents of all member-states, with no partiality towards any gender or ethnic group. The Federation must recognize and facilitate excellence in many different fields of endeavor, including sciences, languages, arts, music and sports. This responsibility should be executed without incurring the risks of further human flight, as has been the past history.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

xxvi. Whereas the Caribbean region must have new jobs to empower the engines of the economy and create the income sources for prosperity, and encourage the next generation to forge their dreams right at home, the Federation must therefore foster the development of new industries, like that of ship-building, automobile manufacturing, prefabricated housing, frozen foods, pipelines, call centers, and the prison industrial complex. In addition, the Federation must invigorate the enterprises related to existing industries like tourism, fisheries and lotteries – impacting the region with more jobs.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

——————

Appendix – What Are Ghost Restaurants?

If you’re tuned into restaurant trends, you may have heard of ghost restaurants. These new types of foodservice establishments are increasing in popularity as more and more restaurateurs decide to depart from traditional brick-and-mortar establishments and focus on delivery instead. If you want to learn more about what ghost restaurants are, how they work, and how you can start a successful one, keep reading.

What Is a Ghost Restaurant?
A ghost restaurant, also known as a virtual restaurant or delivery-only restaurant, is a foodservice establishment that offers take-out only. These “ghostly” eateries don’t have a storefront, so customers can’t come to pick up their own food. Ghost restaurants deliver food directly to their patrons, often through the use of third-party delivery services.

Mostly Made-to-Order
Generally, virtual restaurants function just like traditional restaurants, in that customers’ food is prepared once they order it. As a result, many establishments offer a lot of customization options for their menu items.

Where Do Ghost Restaurants Work Best?
This type of foodservice model is especially great for high-rent areas. Instead of hoping to find a prime location to draw foot traffic, restaurateurs can establish their virtual restaurant in any neighborhood they see fit, so long as their delivery service can easily access customers.

Making the Most of Their Space
Many popular fast-casual establishments in cities are bound by the requirement for seating and waiting space, even though a large percentage of their customers aren’t dining in. So, offering only delivery helps virtual restaurants avoid the problem of underutilized space.

Advantages of Ghost Restaurants
Here are some things that ghost restaurants can do that traditional eateries can’t:

Flexibility of concept: Being app- or web-based means that you can change your menu whenever you like, without having to worry about updating signage or printed materials.
Adjustable menu: If an ingredient becomes too expensive or is no longer accessible in your area, you can easily swap out your menu items to suit what is available to you.
Smaller financial investment: Think about all the expensive elements that don’t apply to virtual restaurants: decor, signage, dinnerware, and additional staff members to serve as servers or hosts.
Opportunity for experimentation: Ghost restaurants are the perfect opportunity to experiment with new concepts, because you can easily scrap ideas that aren’t working.

What Is a Ghost Restaurant Kitchen Like?
In virtual restaurants, the kitchen is where a lot of your investment goes. Because you don’t have to allow square footage for a dining area, you have much more room to customize your kitchen space. Depending on your budget, you can opt for some specialized cooking equipment that you probably never had room for in a traditional restaurant.

Using One Kitchen for Several Concepts
You can even own multiple ghost restaurants and operate them out of the same kitchen. Especially if your menus have ingredient overlap, you can prepare food for two separate concepts in one efficient space.

…

Source: Retrieved May 21, 2019 from: https://www.webstaurantstore.com/blog/2348/what-are-ghost-restaurants.html

————–

Appendix VIDEO – How Ghost Restaurants are Changing the Food Industry – https://youtu.be/59sPK73YjA0

Cheddar
Published on Feb 23, 2019 – With the rise of delivery services has come the rise of Ghost Restaurants which will cook your food and deliver it, but you’d never be able to order “for here”.

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Category – Entertainment

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Uber: A Better ‘Mousetrap’

Posted on March 13, 2019 in Economics, Industries, Strategy

Go Lean Commentary

There is a popular business idiom:

Build a better mousetrap and the world will beat a path to your door.

This has been proven true time and again. Think:

Digital photography better than chemical photo-finishing.
Wireless touch-tone phones better than wired handset dial phones.

Now, we are learning that car-ride-sharing solutions – like Uber or Lyft – are actually working successfully. They are faster, better and cheaper than other transportation options, like taxi’s and rental cars.

Rental cars?

This was the test/comparison in the VIDEO below. For the sake of this exercise, a news correspondent and his producer, started at the same origin to go to the same destination; one by Uber and the other via a rental car. For every category of comparison, the Uber option out-performed the rental car: faster, better, cheaper. See the VIDEO here:

VIDEO – Ride-sharing vs. car rental: Which is best for your vacation? – https://www.today.com/video/ride-sharing-vs-car-rental-which-is-best-for-your-vacation-1456378435570

Posted March 12, 2019 – March is the month when many head out on vacation to escape to warmer climates. But here’s a question of dollars and cents: Does it make more sense to rent a car on your getaway or get around via a ride-sharing app? NBC’s Kerry Sanders investigates.

This is not some exercise in futility. For the Caribbean, we must pay more than the usual attention to this experience. The city in focus for this exercise is the tourist mecca of Orlando, Florida, home to Super Theme Parks: Disney World and Universal Studios. This exercise therefore relates to any tourist destination. This means us in the Caribbean, where tourism is our primary industry. The oft-reliable jobs of taxi drivers may soon be less reliable.

But, it might be argued that local governments can simply ban ride-sharing companies like Uber, Lyft, etc..

Alas, the “genie is out-of-the-bottle”; ICT or Internet Communications Technologies (and smartphones) make messaging and electronic commerce seamless and effortless. This is likened to holding back the tides. Resistance is futile!

The Change Agent cometh!

The book Go Lean … Caribbean identified the following 4 primary Change Agents that are devastating the Caribbean region:

The book asserts that no one Caribbean member-state can tackle any of these challenges alone; there is an urgent need – a Clear and Present Danger – to convene, collaborate, consolidate and confederate the response to these modern challenges – we need the economies-of-scale. This theme aligns with many previous Go Lean blog-commentaries; see a sample list here:

https://goleancaribbean.com/blog/?p=14191	Scheduling in the ‘Gig Economy’
https://goleancaribbean.com/blog/?p=8262	UberEverything in Africa
https://goleancaribbean.com/blog/?p=1364	Uber Demonstrations Snarl Traffic from London to Berlin
https://goleancaribbean.com/blog/?p=2571	More Business Travelers Flocking to Shared Economy and AirBnB
https://goleancaribbean.com/blog/?p=2126	Where the Jobs Are – Computers Reshaping Global Job Market
https://goleancaribbean.com/blog/?p=486	Temasek firm backs Southeast Asia cab booking app

Uber is NOT in many Caribbean member-states … yet.

“A rose by any other name would be just as sweet”.

What prevents any other company, innovator and/or entrepreneur from doing ride-sharing in the mode of Uber? Nothing! It is imminent, whether regulated or not.

Just watch!!!

Wait, instead of watching change derail our economic engines, the movement behind the Go Lean book asserts that “we” need to make change happen to enhance our economic engines. Lives and livelihoods are at stake.

Be the change we want to see in the world.

Taxi cabs and rental cars will be affected in the Shared/Gig Economy.

Don’t wait until it rains to obtain an umbrella.

The Caribbean region has been devastated from “the rain”, external factors: global economic recession, globalization and rapid technology changes. Have no fear, the Go Lean roadmap posits that this “crisis would be a terrible thing to waste“.

We can get ahead of these changes; we can innovate our economy and create new job and entrepreneurial opportunities. Being proactive and reactive to real changes in the real world will help to make our homeland a better place to live, work and play. We urged every Caribbean stakeholder to lean-in to this Go Lean roadmap. 🙂

Optimization of the economic engines in order to grow the regional economy to $800 Billion and create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.

Download the free e-Book of Go Lean … Caribbean – now!

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xvi. Whereas security of our homeland is inextricably linked to prosperity of the homeland, the economic and security interest of the region needs to be aligned under the same governance. Since economic crimes … can imperil the functioning of the wheels of commerce for all the citizenry, the accedence of this Federation must equip the security apparatus with the tools and techniques for predictive and proactive interdictions.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

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Crypto-currency: Here comes ‘Trouble’

Posted on February 20, 2019 in Economics, Industries, Strategy, Tactical

Go Lean Commentary

What materials should money be made from: Gold, Silver, Copper, Diamonds, Emeralds, Rubies and other precious stones?

How about “nothing”? Thin Air?

To insist on some orthodoxy of precious materials, would be inconsequential. Remember, the default currency now is paper. How much more precious a material is paper as opposed to Digits (1’s and 0’s). These are all close to “nothing”.

Yet, this is our economy. Yes, the medium for our currency is not the physical material, but rather: Trust.

The Trust equation is about to change, again. This time, instead of National Trust, we are looking at Corporate Trust.

Here comes the banks; here comes blockchain; here comes crypto-currency; here comes digitization.

Yes, here comes ‘trouble’. Here comes Big Wall Street Bank JPMorganChase. Here comes other players in other markets – see the news articles in the Appendices below:

Appendix A – JPMorganChase
Appendix B – Belarus
Appendix C – Sweden

All of these articles and news developments speak to the digitization of money and banking, highlighting that the primary ingredient in this recipe for success is Trust.

This is where this discussion comes home. In the Caribbean we need to embrace digital money and electronic payment solutions, but first we need Trust in a regional financial institution to manifest this roadmap. When we look at the reality of our Caribbean geography, we see:

American, Dutch, English, French, Spanish, Independent and Overseas Territories

Here comes trouble! We realize something very obvious: we do not trust each other! So we may actually have to do the heavy-lifting that was always needed for our regional society to finally function as a coherent neighborhood. We have always needed to come together … in trust and unity; but never have.

Now more than ever, we must convene, collaborate and confederate banking solutions for our Caribbean homeland by committing vital resources for every Caribbean country, all 30 member-states. The basis for our trust must be, that we all have something to lose.

Then, only then, will we have no choice but to trust each other for a unified monetary and currency solution.

Trust but verify – Russian proverb Doveryai, no proveryai used by the 40th US President Ronald Reagan to emphasize “the extensive verification procedures that would enable both sides to monitor compliance with the INF Treaty of 1987 for nuclear disarmament by the US and USSR”^[4].

We are urged to follow this wise “trust but verify” course of action. If it worked for bilateral cooperation between arch-enemies – USA and USSR – it can work for friendly neighbors in the Caribbean region.

The verification is key. The book Go Lean … Caribbean proposed a monetary-currency (Caribbean Dollar or C$) solution involving a cooperative of the Central Banks already in the region, dubbed the Caribbean Central Bank (CCB). Such a move should not be so unnerving. There is already currency interdependence for many member-states:

Eastern Caribbean Central Bank – services the monetary-currency needs of 8 countries (Antigua & Barbuda, Anguilla, Dominica, Grenada, Montserrat, St. Kitts & Nevis, St. Lucia, and St. Vincent & the Grenadines)
US Dollar is used as the monetary-currency solution for 4 Caribbean countries: British Virgin Islands, Puerto Rico, Turks & Caicos Islands, US Virgin Islands. (Plus used widely along with local currency in 9 countries).

With a Central Bank cooperative, we would already be half-way there! The Go Lean book (Page 73) details this CCB cooperative as follows:

The Caribbean Central Bank (CCB) is actually a cooperative among the region’s Central Banks. All the existing Central Banks, at the time of ascension, will cede their monetary powers to the CCB and continue their participation using well-established cooperative principles (Rochdale). This includes these 7 prime directives:
1). Open/voluntary membership – based on CU treaty ratification;
2). Democratic member control – the CCB cooperative is controlled by their Central Bank Governor-members, who actively participate in setting monetary policies and making tactical decisions;
3)-a. Members contribute equitably to, and democratically control, the capital of their co-operative – the C$ is the capital;
3)-b. Members are compensated for funds invested in the CCB cooperative, and decide how surpluses should be used – how much reserves to maintain and how much to return to the member-state governments;
4). Autonomous and independent – the very definition of a technocracy;
5). Provide education and training to their members and the public – the CCB champions the cause of an integrated currency to the public;
6). Co-ops cooperate with each other;
7). Work for the sustainable development of their communities through policies approved by their members – the community is the region as a whole.

Now, we can launch our own crypto-currency and electronic payments, clearing and settlements from this strong foundation. The missing ingredient, Trust, would be fulfilled. See how the underlying technology behind crypto-currencies, Blockchain, is explained in this TED Talk VIDEO here:

VIDEO – How the blockchain will radically transform the economy | Bettina Warburg – https://youtu.be/RplnSVTzvnU

TED
Published on Dec 8, 2016 – Say hello to the decentralized economy — the blockchain is about to change everything. In this lucid explainer of the complex (and confusing) technology, Bettina Warburg describes how the blockchain will eliminate the need for centralized institutions like banks or governments to facilitate trade, evolving age-old models of commerce and finance into something far more interesting: a distributed, transparent, autonomous system for exchanging value.

TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design — plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://www.ted.com/translate

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Category: Science & Technology

A successful digital money / electronic payment scheme is very important in the strategy for elevating the Caribbean economy. The “risky” image of crypto-currency may now be nullified with all the global developments taking place.

Let’s get started!

This theme of Caribbean monetary and currency solutions have been elaborated in previous Go Lean commentaries; see a sample list here:

https://goleancaribbean.com/blog/?p=14248	Leading with Money Matters – New Almighty Caribbean Dollar
https://goleancaribbean.com/blog/?p=13744	Failure to Launch: The Quest for a Caribbean ‘Single Currency’
https://goleancaribbean.com/blog/?p=8381	Case Study on Central Banking for Puerto Rico
https://goleancaribbean.com/blog/?p=7034	The Future of Money – For the Caribbean and Beyond
https://goleancaribbean.com/blog/?p=906	Bitcoin needs regulatory framework to change ‘risky’ image
https://goleancaribbean.com/blog/?p=467	Barbados Central Bank records $3.7m loss in 2013
https://goleancaribbean.com/blog/?p=360	Central Banks Can Create Money from ‘Thin Air’ – Here’s How

The world of crypto-currency and electronic payment systems is here! But this is a good thing. The benefits of these new schemes are too enticing to ignore: fostering more e-Commerce, increasing regional money supply, mitigating Black Markets, more cruise tourism spending, growing the economy, creating jobs, enhancing security and optimizing governance.

Yep! Count us in!

Now is the time for all stakeholders of the Caribbean, (residents, visitors, merchants, vendors, bankers, and governing institutions), to lean-in for the empowerments described in the book Go Lean roadmap. These empowerments can help to make the Caribbean a better place to live, work and play. 🙂

About the Book
The book Go Lean…Caribbean serves as a roadmap for the introduction and implementation of the technocratic Caribbean Union Trade Federation (CU) and aligning Caribbean Central Bank (CCB), for the elevation of Caribbean society – for all member-states. This CU/Go Lean roadmap has these 3 prime directives:

Optimization of the economic engines in order to grow the regional economy to $800 Billion and create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines.
Improve Caribbean governance to support these engines, including a separation-of-powers between the member-states and CU federal agencies.

The CCB provides a comprehensive role in this roadmap: facilitating and settling interbank transactions for the region, especially in light of the introduction of for new digital payment systems: new cards, telephony apps and crypto-currency. The Go Lean book provides 370-pages of turn-by-turn instructions on these solutions; and on “how” to adopt new community ethos, plus the strategies, tactics, implementations and advocacies to execute so as to reboot, reform and transform the societal engines of Caribbean society.

Download the free e-Book of Go Lean … Caribbean – now!

xi. Whereas all men are entitled to the benefits of good governance in a free society, “new guards” must be enacted to dissuade the emergence of incompetence, corruption, nepotism and cronyism at the peril of the people’s best interest. The Federation must guarantee the executions of a social contract between government and the governed.

xvi. Whereas security of our homeland is inextricably linked to prosperity of the homeland, the economic and security interest of the region needs to be aligned under the same governance. Since economic crimes … can imperil the functioning of the wheels of commerce for all the citizenry, the accedence of this Federation must equip the security apparatus with the tools and techniques for predictive and proactive interdictions.

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

————-

Appendix A – JPMorgan launches ‘JPM Coin’ cryptocurrency, becomes first major bank to create its own digital coin By: Jade Scipioni

Nearly two years after JPMorgan Chase chief Jamie Dimon Opens a New Window. famously bashed bitcoin, calling it a “fraud,” the big bank announces it has created its own cryptocurrency Opens a New Window. prototype.

Dubbed JPM Coin, the new tokens, which will be the first cryptocurrency backed by a U.S. bank, are set to be tested to instantly settle transactions, on a small portion of payments, among clients of the big bank’s wholesale payments business.

“The JPM Coin isn’t money per se. It is a digital coin representing United States Dollars held in designated accounts at JPMorganChase,” the company said in a press release.

In short, a JPM Coin will have a fixed value redeemable for one U.S. dollar. However, it won’t trade freely like bitcoin or other cryptocurrencies.

“When one client sends money to another over the blockchain, JPM Coins are transferred and instantaneously redeemed for the equivalents amount of U.S. dollars, reducing the typical settlement time,” the company added.

JPMorgan Opens a New Window. said it believes the new technology can help lower costs and risks associated with big money transfers around the world.

While the new tokens are initially designed for major ‘institutional clients’ for business-to-business transactions, not individuals, the cost-savings and efficiency benefits “would extend to the end customers of our institutional clients,” the company said.

The news does not come as a surprise either, as JPMorgan has been leading the charge in testing blockchain payments for more than two years.

As reported by FOX Business last September,Opens a New Window. more than 157 banks globally have joined a blockchain-based payment project led by JPMorgan to test how to streamline cross-border transactions.

The shared ledger called Interbank Information Network (IIN) was built by Dimon’s team in 2017 through its own blockchain platform called Quorum.

While Dimon did famously call bitcoin a “fraud” and “worse than tulip bulbs” — a reference to the 17th century economic bubble — he and his key managers have consistently said that blockchain and regulated digital currencies do have promise.

Source: Posted February 14, 2019; retrieved February 19, 2019 from: https://www.foxbusiness.com/features/jpmorgan-set-to-roll-out-the-first-bank-backed-cryptocurrency

————-

Appendix B – Belarus’ Biggest Bank is ‘Working on’ Launching Its Own Cryptocurrency Exchange
By: Jimmy Aki, CCN
According to a report by local news outlet BeITA, Belarusbank, the largest bank in Belarus, is considering the launch of its very own cryptocurrency exchange platform.

The plans for the exchange were revealed by Viktor Ananich, the Chairman of Belrusbank’s board. Speaking with Belarus 1 TV channel, Ananich remarked:

“We are considering a possibility to establish a cryptocurrency exchange. We are working on it.”

For Belarusbank, Digitization is the Future
The bank is looking to intensify its focus on digitization, and it is reportedly seeking ways to expand its range of services by forming alliances with various mobile service providers. In addition to the reported cryptocurrency exchange, BeITA also stated that the bank is in the process of issuing virtual cards soon.

Source: Posted January 31, 2019; retrieved February 20, 2019 from: https://finance.yahoo.com/news/belarus-biggest-bank-working-launching-155444267.html

————-

Appendix C – Sweden Officially Backs a Cryptocurrency and Establishes It As Their Official Coin

It’s finally happened. A major worldwide government has just bestowed a huge vote of confidence and legitimacy onto the world of cryptocurrencies. Sweden, in an unprecedented move, just announced that they are officially adopting a certain cryptocurrency as Sweden’s official coin!

The Swedish government just informed us that they have chosen a preferred firm for the purchase and marketing of their new coin – Kryptonex Research Group. The sales of Sweden’s coin officially started on Friday, April 27th and currently these coins can be bought only from Kryptonex Research Group.

Industry experts weren’t surprised when Kryptonex was chosen by Sweden as their preferred firm for the release of their official coin. They had all seen for their own eyes the cutting edge insight that Kryptonex had brought to the cryptocurrency markets for their clients.

See the full article here: https://elevenews.com/2018/04/28/sweden-officially-backs-cryptocurrency-and-establishes-it-as-their-official-coin/ – posted April 28, 2018; retrieved January 20, 2018.

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Banks, e-Commerce, Model, Transform

[Top]

Retail Apocalypse and Sears – Another One Bites the Dust – ENCORE

Posted on October 16, 2018 in Economics, Industries, Strategy

Another one bites the dust …

Sears has filed for Bankruptcy protection. This may be more than just reorganization; this might be complete dissolution.

See the VIDEO and excerpt of the news article here:

VIDEO – Sears files for Chapter 11 bankruptcy protection – https://www.usatoday.com/videos/news/nation/2018/10/15/sears-files-chapter-11-bankruptcy-protection/38160609/

—————–

Title: Sears files for Chapter 11 bankruptcy protection, to close 142 more stores
By: Charisse Jones and Nathan Bomey, USA TODAY

October 15, 2018 – Sears Holdings, whose presence permeated American life for generations, filed for Chapter 11 bankruptcy protection early Monday in a last-ditch attempt to avoid entombment in the graveyard of once-great retailers that failed to adapt to the digital age.

For Sears — which was the largest retailer in the nation before the rise of Walmart and, later, Amazon — bankruptcy marks the culmination of years of decline defined by store closures, sales declines, cost cuts and borrowing.

The company, which also owns discount retailer Kmart, has fallen into disrepair amid a perilous retail landscape in which customers increasingly shop online or seek out more-appealing alternatives.

For Kmart, known for its one-time “blue-light specials,” catchy jingles, and collections created by celebrities, the case marks a second brush with death. Kmart merged with Sears in 2005 after surviving bankruptcy once before.

Sears Holdings will close another 142 stores by about the end of the year, on top of a recently announced round of 46 store closures, as part of the bankruptcy. The company has 687 stores and about 68,000 employees.

See the remaining news story here (retrieved from this source on October 16, 2018):https://www.usatoday.com/story/money/2018/10/15/sears-bankruptcy/1595399002/?csp=chromepush

This was predicted. This is the dreaded, feared Retail Apocalypse. Truth be told, this is relevant for the Caribbean as well. This assertion was made in a prior commentary on April 18, 2017. See an Encore of that submission here-now:

=====================

Go Lean Commentary – Retail Apocalypse – Preparing for the Inevitable

Remember the dream … of 7 Fat Cows and 7 Skinny Cows?

The articulation of the dream was that the 7 Fat Cows represented 7 prosperous years while the 7 Skinny Cows represented 7 years of famine with poverty and distress. – The Bible; Genesis Chapter 41.

In that Bible drama of Joseph in ancient Egypt, those circumstances were more than just in a dream; it was a prophecy of prosperity and famine. It came true!

Joseph was able to use the foresight to prepare that kingdom for adversity, after first exploiting the opportunities.

Here it comes again.

There is feast and famine “in the cards” as related to the retail eco-system. On one end of the spectrum , there will be prosperity for electronic commerce stakeholders, but on the other end, for brick-and-mortar establishments, there will be a Retail Apocalypse.

Will be? Actually, the threat has already manifested!

This is the assertion in this news article by the financial-economic magazine Business Insider:

Title: The retail apocalypse has officially descended on America
By: Hayley Peterson

Thousands of mall-based stores are shutting down in what’s fast becoming one of the biggest waves of retail closures in decades.

More than 3,500 stores are expected to close in the next couple of months.

Department stores like JCPenney, Macy’s, Sears, and Kmart are among the companies shutting down stores, along with middle-of-the-mall chains like Crocs, BCBG, Abercrombie & Fitch, and Guess.

Some retailers are exiting the brick-and-mortar business altogether and trying to shift to an all-online model.

For example, Bebe is closing all its stores — about 170 — to focus on increasing its online sales, according to a Bloomberg report.

Some are going out of business altogether, like The Limited which recently shut down all 250 of its stores.

Others, such as Sears and JCPenney, are aggressively paring down their store counts to unload unprofitable locations and try to stanch losses.

Sears is shutting down about 10% of its Sears and Kmart locations, or 150 stores, and JCPenney is shutting down about 14% of its locations, or 138 stores.

According to many analysts, the retail apocalypse has been a long time coming in the US, where stores per capita far outnumber that of any other country.

The US has 23.5 square feet of retail space per person, compared with 16.4 square feet in Canada and 11.1 square feet in Australia, the next two countries with the most retail space per capita, according to a Morningstar Credit Ratings report from October.

Visits to shopping malls have been declining for years with the rise of e-commerce and titanic shifts in how shoppers spend their money. Visits declined by 50% between 2010 and 2013, according to the real-estate research firm Cushman & Wakefield.

And people are now devoting bigger shares of their wallets to restaurants, travel, and technology than ever before, while spending less on apparel and accessories.

As stores close, many shopping malls will be forced to shut down as well.

When an anchor store like Sears or Macy’s closes, it often triggers a downward spiral in performance for shopping malls.

Not only do the malls lose the income and shopper traffic from that store’s business, but the closure often triggers “co-tenancy clauses” that allow the other mall tenants to terminate their leases or renegotiate the terms, typically with a period of lower rents, until another retailer moves into the anchor space.

To reduce losses, malls must quickly find a replacement tenant for the massive retail space that the anchor store occupied, which is difficult — especially in malls that are already financially strapped — when major department stores are reducing their retail footprints.

That can have grave consequences for shopping malls, especially in markets where it’s harder to transform vacant mall space into non-retail space like apartments, according to analysts.

The nation’s worst-performing malls — those classified in the industry as C- and D-rated — will be hit the hardest by the store closures.

The real-estate research firm Green Street Advisors estimates that about 30% of all malls fall under those classifications. That means that nearly a third of shopping malls are at risk of dying off as a result of store closures.
Source: Business Insider e-Zine. Posted 03/21/2017; retrieved 04/17/2017 from: http://www.businessinsider.com/the-retail-apocalypse-has-officially-descended-on-america-2017-3

Related:

1. Monday Market Mayhem – The Retail Apocalypse – Look out Wall Street

2. Dollar General is defying the retail apocalypse and opening 1,000 stores

See the related AUDIO Podcast below here:

———–

AUDIO Podcast – Wal-Mart battles Amazon with discounts for online ordering and store pickup – https://www.marketplace.org/2017/04/14/business/its-battle-amazon-walmart-offers-discounts-ordering-online-and-picking-store

Published April 14, 2017 – Big Box giant Wal-Mart battling e-Commerce giant Amazon for New Economy fulfillment.

As noted in the foregoing, the Retail Apocalypse is affecting the news in the United States. It’s only the news today, tomorrow will be jobs, the next day the finance apparatus holding the debt (mortgages and security instruments on Wall Street) for the many shopping malls and then soon, the rest of the economy will be impacted.

This is so familiar. Remember the housing-real estate bubble in 2003 to 2010. This previous blog-commentary identified the following 5 steps of a bubble:

1.   Displacement

2.   Boom

3.   Euphoria

4.   Profit Taking

5.   Panic

Here we go again! Sounds like a crisis is imminent.

The book Go Lean…Caribbean serves as a roadmap for the introduction and implementation of the technocratic Caribbean Union Trade Federation (CU) and Caribbean Central Bank (CCB); it declares that a crisis is a terrible thing to waste – quoting famed American Economist Paul Romer. Though the impending crisis is slated for the US, the actuality of economic contagions mean that the Caribbean member-states will be affected as well.

Where do the tourists come from that drive the Caribbean region’s primary economic driver?

The question is rhetorical; the answer is obvious!

The Go Lean book seeks to prepare the Caribbean region for the change dynamics impacting the world. The “Agents of Change” at play in the foregoing news source are as follows:

Technology
Globalization

The underlying issue with the Retail Apocalypse is not the demand for retail products, it is the supply. Consumers are still demanding and consuming fashion and commodities, just not at shopping malls; e-Commerce is “all the rage”.

Consider the experience of this commentator:

I went to buy 3 pairs of slacks.

I was only able to find one – with the brand, make, size and color – at a Big Box retail store. So then I went home and matched the brand, model, size with the e-Commerce merchant Amazon.com and acquired the same pants in 2 divergent colors that the Big Box retailer did not have in inventory. 3 days later, the whole shopping expedition was over; I acquired 3 pairs of slacks, primarily from the online merchant and delivered by the shipping company United Parcel Service (UPS).

The quest of the Go Lean/CU roadmap is to elevate the Caribbean’s societal engines – not the US – starting first with economics (jobs, commercial developments and entrepreneurial opportunities). In fact, the following 3 statements are identified as the prime directives of the CU:

Optimization of the economic engines in order to grow the regional economy to $800 Billion & create 2.2 million new jobs.
Establishment of a security apparatus to protect the resultant economic engines.
Improve Caribbean governance – as e-Commerce alters sales & border taxes – to support these engines.

The changes taking place in the US with the Retail Apocalypse will eventually traverse the Caribbean member-states as well. This is the parallel with the opening Bible Drama. A crisis is coming and we have the opportunity to exploit the prosperous years and prepare for the famine. The Caribbean region – all 30 member-states – needs to better exploit e-Commerce. There are so missing ingredients, fully detailed in the Go Lean book; see this sample advocacy on Page 198:

10 Ways to Foster e-Commerce

1	Leverage the full population – 42 million people in all 30 member-states to deploy the CU and the CCB.
2	Regional Currency (Caribbean Dollar or C$)
3	Card Culture The CU will seek to foster the eco-system for e-payments beyond government activity. To assimilate this change, a card culture, on Main Street, will entail utilizing debit/credit cards, benefits pay cards, and even smart cards on cruise ships. The CU will collectively bargain with the cruise lines to deploy C$ electronic “purses” to facilitate port-side and onboard retail commerce. All of these changes will garner a better monetary multiplier on the CU economy, by expanding M1.
4	CU Social Media The CU web portal www.myCaribbean.gov will grant free access, email, IM, and profile pages for CU stakeholders, even normalizing communications thru social media sites. This will facilitate internet commerce activities in the region, as the CU will have hot data on profiles, habits and previous activities, thereby creating opportunities for measured marketing.
5	A Market for the Downloads of Intellectual Properties
6	Remittance Methods (Card & Email)
7	Mobile Apps – *Hi-Density Wi-Fi*
8	Regional Postal Services – CPU The CU will assume the responsibility for mail services in the region; (all member-state postal employees will become federal civil servants). The embrace of the Caribbean Postal Union allows for parcel mail to be optimally shipped and delivered throughout the region, with Customs considerations in place. The CPU will therefore ensure the fulfillment side of e-commerce, even allowing for computer applications for printing electronic stamps/barcodes for value savings.
9	Turnpike Logistics
10	Customs and Import Optimizations

The missing ingredients for this new marketplace – electronic commerce – are not just banking-related, the full eco-system must be enabled: electronic (technology), commerce (trade) and fulfillment (logistics). The implementation of these provisions will constitute a New Day for the region. Overall, the Go Lean book stresses the community ethos, strategies, tactics, implementations and advocacies to reboot, reform and transform the economic engines of Caribbean society, so as to benefit from changes coming due to the Retail Apocalypse, this New Day.

Though not directly mentioned in the Go Lean book, this Retail Apocalypse is planned for in the roadmap. A comprehensive view of the technocratic stewardship for the region’s economic engines, including the banking eco-system, is presented early in the book with these opening pronouncements in the Declaration of Interdependence (Page 13 and 14):

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

xxvii. Whereas the region has endured a spectator status during the Industrial Revolution, we cannot stand on the sidelines of this new economy, the Information Revolution. Rather, the Federation must embrace all the tenets of Internet Communications Technology (ICT) to serve as an equalizing element in competition with the rest of the world. The Federation must bridge the digital divide and promote the community ethos that research/development is valuable and must be promoted and incentivized for adoption.

The points of effective, technocratic banking and retail stewardship were further elaborated upon in previous blog/commentaries. Consider this sample:

https://goleancaribbean.com/blog/?p=11184	Big Bank investing $Billion on ‘Fintech’ for e-Commerce positioning
https://goleancaribbean.com/blog/?p=8823	Lessons from China – WeChat: Model for Caribbean Social Media
https://goleancaribbean.com/blog/?p=8704	Lesson from MetroCard
https://goleancaribbean.com/blog/?p=7991	Transformations: Caribbean Postal Union – Delivering the Future
https://goleancaribbean.com/blog/?p=7034	The Future of Money
https://goleancaribbean.com/blog/?p=6635	New Security Chip in Credit Cards Unveiled
https://goleancaribbean.com/blog/?p=5668	Move over Mastercard/Visa – Time for Local Banking Cards
https://goleancaribbean.com/blog/?p=4425	Cash, Credit or iPhone …
https://goleancaribbean.com/blog/?p=3889	Royal Bank of Canada’s EZPay – Ready for Change
https://goleancaribbean.com/blog/?p=3881	The Need for Regional Cooperation for Cyber-Security & e-Security
https://goleancaribbean.com/blog/?p=3858	Model of Central Banking Technocracy: ECB 1 trillion Euro stimulus
https://goleancaribbean.com/blog/?p=2488	Model of an E-Commerce Fulfillment Company: Alibaba
https://goleancaribbean.com/blog/?p=1416	Model of an E-Commerce Fulfillment Company: Amazon
https://goleancaribbean.com/blog/?p=1350	PayPal’s model to pay for e-Commerce
https://goleancaribbean.com/blog/?p=906	Bitcoin model to pay for e-Commerce
https://goleancaribbean.com/blog/?p=528	Facebook to pay for e-Commerce

Warning to all retail stakeholders – buyers, sellers and governments: Change is coming!

This is a familiar stance – preparing for the inevitable – for the Go Lean movement; there have been previous warnings of disruptive changes; see this sample here:

https://goleancaribbean.com/blog/?p=7847	To the Personal Computer industry: Cloud Computing, Smartphones and Tablets are making actual laptop and desktop computers inconsequential.
https://goleancaribbean.com/blog/?p=6151	To the regional government’s Revenue Officials: 3-D Printing is coming and will change fabrication to local rather than import. This will disrupt border taxes revenue expectations.
https://goleancaribbean.com/blog/?p=6016	To the Infrastructure Planners: Climate Change is making Caribbean summers hot-hot-hot and northern winters milder; there must be cooperative refrigeration to provide relief, otherwise people will leave for northern destinations.
https://goleancaribbean.com/blog/?p=5784	To Jamaica’s Public Safety Officials: Human Rights protections must be extended to people who identify as LGBT. Whether you agree or not, the international community will force you to respect their rights for life, liberty and the pursuit of happiness.
https://goleancaribbean.com/blog/?p=5210	To the Cruise Line industry: The Caribbean region’s collective bargaining will extract greater benefits and protections for port city commerce.
https://goleancaribbean.com/blog/?p=5155	To the Caribbean Power Grip: Home-based batteries will allow for successful deployments of solar/wind power generation and require less power from the grid.
https://goleancaribbean.com/blog/?p=4767	To the regional government’s Revenue Officials: Under the WTO regime, customs duties must eventually be eliminated; same too with conditional property taxes. VAT or Sales Taxes are OK.

As for the Retail Apocalypse, now is the time for all stakeholders of Caribbean banking, retail and governments to lean-in for the empowerments for e-Commerce described here-in and in the book Go Lean … Caribbean. This is where the marketplace is going, not just tomorrow, but already here today. We can do this; we can elevate our communities and our retail eco-systems. We can be a better place to live, work and play. 🙂

Download the free e-book of Go Lean … Caribbean – now!

Sign the petition to lean-in for the roadmap for the Caribbean Union Trade Federation.

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Amazon, CPU, Disaster, e-Commerce, ICT

[Top]

Industrial Reboot – Payment Cards 101

Posted on October 11, 2018 in Economics, Government, Implementation, Strategy

Go Lean Commentary

The purpose of any business is to earn a profit.

Profit is good!

We may be more familiar with a parallel version of this expression, as related in a previous blog-commentary:

… greed is good! In this case “greed” is not being defined as excess, but rather the natural desire to possess wealth, goods, or objects of abstract value with the intention to keep it for one’s self. The dreaded excess of “greed”, on the other hand, is a “vice” that must be cautiously monitored and curtailed, i.e. Crony-Capitalism.

When there is an opportunity for profit, people, companies and industries step-in and step-up for the chances to earn. This is the basis for capitalism and other market-based economies. So the profit motive is attached to any industrial landscape. Whenever economic engines become strained and stressed – devoid of profit – the industrial landscape should be revisited and rebooted.

This is the assessment of the Caribbean – our economic engines are in crisis – and this is the intent of the movement behind the book Go Lean…Caribbean – a crisis is a terrible thing to waste . This is why the book opens with a relevant pronouncement in the Declaration of Interdependence (Page 13):

xxiv. Whereas a free market economy can be induced and spurred for continuous progress, the Federation must install the controls to better manage aspects of the economy: jobs, inflation, savings rate, investments and other economic principles. Thereby attracting direct foreign investment because of the stability and vibrancy of our economy.

There is now the opportunity to transform the industrial landscape of Caribbean communities; we can install controls so as to better manage our economy and industrial landscape. Among the many strategies and tactics discussed by this Go Lean movement, there is this one irresistible prospect of introducing electronic money (e-Money) or Payment Cards through out the region.

So, instead of cash, industrial stakeholders will do most transactions … electronically. This changes everything!

With an e-Money/Payment Cards deployment, there would be so many benefits; consider these possibilities:

Functional – Payroll and Government Benefits can be easily loaded; credit programs can also be added.
Universality – whether its e-Money or Payment Cards, all financial transactions can be executed
Portability – e-Money can be used in Cyberspace and in the real world transactions (merchant POS, ATMs)
Security – Smartchips and PIN options can ensure against unauthorized use.
Resilience – card-to-card transactions can be conducted even with no online connection – think Block-chain.
Risk-aversion – The informal economy and Black Markets are mitigated, thereby fostering tax revenues.
Far-reaching – Benefits outside of the payment transaction; the scheme increases the money supply (M1), which increases available bank capital for community investments.

This is Payment Cards 101. See the exploratory VIDEO in the Appendix below.

The actuality of a country’s universal acceptance of e-Money/Payment Cards is not just academic, it is already in play … in model countries – think India. They, this emerging economy of 1.2 billion people, have rolled out numerous e-Money products for their “rupee” currency. They have learned-lessons – good, bad and ugly – for us to apply in our implementation. This summary was detailed in a previous Go Lean commentary; consider this excerpt:

Excerpt: What the U.S. can learn from India’s move toward a cashless society

Silicon Valley fancies itself the global leader in innovation. Its leaders hype technologies such as bitcoin and blockchain, which some claim are the greatest inventions since the Internet. They are so complex that only a few mathematicians can understand them, and they require massive computing resources to operate — yet billions of dollars are invested in them.

India may have leapfrogged the U.S. technology industry with simple and practical innovations and massive grunt work. It has built a digital infrastructure that will soon process billions more transactions than bitcoin ever has. With this, India will skip two generations of financial technologies and build something as monumental as China’s Great Wall and America’s interstate highways.
…
In 2009, the government launched a massive project, called Aadhar, to solve this problem by providing a digital identity to everyone based on an individual’s fingerprints and retina scans. As of 2016, the program had issued 12-digit identification numbers to 1.1 billion people. This was the largest and most successful I.T. project in the world and created the foundation for a digital economy.
…
And then India launched its Unified Payment Interface (UPI), a way for banks to transfer money directly to one another based on a single identifier, such as the Aadhar number.
…
With a system such as UPI, the billing processor is eliminated, and transaction costs are close to zero. …

Nobel Prize-winning economist Joseph Stiglitz said at the World Economic Forum meeting in Davos, Switzerland, that the United States should follow Modi’s lead in phasing out currency and moving toward a digital economy, because it would have “benefits that outweigh the cost.” …

Where as India’s e-Money deployment is for their rupee currency, the Caribbean’s plan is to introduce a regional integrated currency branded the Caribbean Dollar (C$). This was the stated intent of the book Go Lean … Caribbean, to serves as a roadmap for the introduction and implementation of the Caribbean Union Trade Federation (CU) and the aligning Caribbean Central Bank (CCB), the issuer of C$. This Go Lean/CU/CCB roadmap depicts e-Money and Payment Cards as a hallmark of technocratic efficiency, with the agility to manage this deployment. This will affect all aspects of Caribbean society – economics, security and governance. As a currency product, surely it affects the economic engines, but with the ubiquity of a government Payment Card system – the government is the largest employer – the universality of this reboot will have immediate impacted.

This reality fits in with the quest of the Go Lean roadmap, to optimize all societal engines, as stated with these 3 prime directives:

Optimization of the economic engines in order to grow the regional economy to $800 Billion & create 2.2 million new jobs.
Establishment of a security apparatus to ensure public safety and protect the resultant economic engines ; where there is economic successes, “bad actors” always emerge, so there must be a solution for predictive and reactive mitigations and interdictions.
Improvement of Caribbean governance to support these above engines. This include a separation-of-powers between the member-states and CU federal agencies, including the independent administration of the Caribbean Central Bank.

The Go Lean/CU/CCB roadmap anticipated e-Money and Payment Card schemes. The book detailed strategies as follows:

e-Government – The CU is prescribed as the regional administrator for ICT for the Single Market of 30 states and 42-million people. While the Caribbean Central Bank (CCB) will manage the region’s M1, they will embrace the e-Government mandate, calling for card-based, electronic payment options for all federal transactions and encouraging this mode for state/municipal/private facilitations as well. This means that the Caribbean dollar (C$) will be mostly cashless, an accounting currency much like the first years of the Euro. The CCB will settle all C$ electronic transactions (MasterCard-Visa style or ACH style) and charge interchange/clearance fees. – This scheme is fully defined on Page 198.
Cruise line passengers using smart-chips – the cruise industry needs the Caribbean more than the Caribbean needs the industry. But the cruise lines have embedded rules/regulations designed to maximize their revenues at the expense of the port-side establishments. The CU solution is to deploy a scheme for smartcards (or smart-phone applications) that function on the ships and at the port cities. This scheme will also employ NFC technology – (Near Field Communications; defined fully at Page 193 – so as to glean the additional security benefits of shielding private financial data of the guest and passengers. [This scheme will incentivize more spending among cruise line passengers.] – Defined fully on Page 193.
Electronic Commerce – This holds the promise of “leveling the playing field” so that small merchants can compete against larger merchants. To facilitate e-Commerce, purchased merchandise must get to their destinations as efficiently as possible. The CU’s implementation of the Caribbean Postal Union allows for better logistics for package delivery. – Defined fully on Page 201.
Internet Marketplace / Social Media – The CU‘s web portal, www.myCaribbean.gov, will grant free access, email, IM, and profile pages for CU stakeholders, even normalizing communications thru social media sites. This will facilitate internet commerce activities in the region, as the CU will have hot data on profiles, habits and previous activities, thereby creating opportunities for measured marketing. – Defined fully on Page 198.
Government Benefits / Electronic Benefits Transfer (EBT) – allows State welfare departments to issue benefits via magnetically encoded payment card, used in the United States and the United Kingdom. Common benefits provided (in the United States) via EBT are typically of two general categories: food and cash benefits. – Defined fully on Page 353.
Unemployment Benefits – The CU‘s mandate for e-Delivery and e-Payment will make the unemployment benefits process more effective and more efficient. Claimants will be able to apply online or on the phone, and payments will be disbursed to debit/payment cards, as opposed to paper checks. (Payments will be in Caribbean dollars, even in Puerto Rico and the US Virgin Islands). – Defined fully on Page 89.
Remittance Solutions for Diaspora – By pursuing the e-Government / e-Payment strategy, the Caribbean Diaspora will be able to remit transfers back home by just loading values onto C$ payment cards [for free]. This simplified system will minimize transfer fees and furnish [Foreign Currency] (Fx) controls. – Defined fully on Page 154.

There are countless examples of electronic money schemes facilitating more commerce (i.e. e-Commerce). The key is having an settlement / clearing entity. Under the Go Lean roadmap, that role is assumed by the CCB.

This changes everything … for everyone. Yes, we can!

The Go Lean book provides details of the community ethos to adopt, plus the strategies, tactics, implementations and advocacies that are necessary to executed in order to deliver the e-Money / Payment Card solutions to the Caribbean region. Within its 370-pages, the Go Lean book re-affirms the mantra that Internet & Communication Technologies (ICT) can be used as a great equalizer so that small nation-states can compete against large nation-states.

The points of effective, technocratic e-Money stewardship were further elaborated upon in previous blog/commentaries. Consider this sample:

https://goleancaribbean.com/blog/?p=14248	Leading with Money Matters – Almighty Dollar
https://goleancaribbean.com/blog/?p=10513	Transforming Money Countrywide – The Model of India
https://goleancaribbean.com/blog/?p=7034	The Future of Money
https://goleancaribbean.com/blog/?p=6635	New Security Chip in Credit Cards Unveiled
https://goleancaribbean.com/blog/?p=5668	Move over Mastercard/Visa, Time for Local Settlement
https://goleancaribbean.com/blog/?p=5210	Cruise Ship Commerce – Getting Ready for Change
https://goleancaribbean.com/blog/?p=4425	Cash, Credit or iPhone …
https://goleancaribbean.com/blog/?p=3889	RBC EZPay – Ready for Change
https://goleancaribbean.com/blog/?p=2074	MetroCard – Model for the Caribbean Dollar
https://goleancaribbean.com/blog/?p=1350	PayPal expands payment services to 10 markets
https://goleancaribbean.com/blog/?p=906	Bitcoin virtual currency needs regulatory framework to change image
https://goleancaribbean.com/blog/?p=528	Facebook plans to provide Fintech – Mobile payment services
https://goleancaribbean.com/blog/?p=833	One single currency, divergent economies – Europe’s Model

An e-Money transformation will mean rebooting the industrial landscape of the Caribbean. In general, rebooting the region’s industrial landscape is not a new subject for this Go Lean movement; this commentary has previously identified a number of industrial initiatives to launch a reboot in the region. See the list of previous submissions on Industrial Reboots here:

Industrial Reboots – Ferries 101 – Published June 27, 2017
Industrial Reboots – Prisons 101 – Published October 4, 2017
Industrial Reboots – Pipeline 101 – Published October 5, 2017
Industrial Reboots – Frozen Foods 101 – Published October 6, 2017
Industrial Reboots – Call Centers 101 – Published July 2, 2018
Industrial Reboots – Prefab Housing 101 – Published July 14, 2018
Industrial Reboots – Trauma 101 – Published July 18, 2018
Industrial Reboots – Auto-making 101 – Published July 19, 2018
Industrial Reboots – Shipbuilding 101 – Published July 20, 2018
Industrial Reboots – Fisheries 101 – Published July 23, 2018
Industrial Reboots – Lottery 101 – Published July 24, 2018
Industrial Reboots – Culture 101 – Published July 25, 2018
Industrial Reboots – Tourism 2.0 – Published July 27, 2018
Industrial Reboots – Cruise Tourism 2.0 – Published July 27, 2018
Industrial Reboots – Reinsurance Sidecars 101 – Published October 2, 2018
Industrial Reboots – Navy Piers 101 – Published October 9, 2018
Industrial Reboots – Payment Cards 101 – Published Today – October 11, 2018

In summary, our Caribbean region needs a better industrial landscape to improve our economics, security and governance. While transforming to an e-Money / Payment Card economy may be heavy-lifting, it is worth all the hard work. This plan is conceivable, believable and achievable – India is doing it!

Let’s lean-in to the Go Lean roadmap to reboot our industrial landscape. Time to get going. There is only one destination for all of this effort: a better Caribbean homeland to live, work and play. 🙂

Download the free e-Book of Go Lean … Caribbean – now!

Sign the petition to lean-in for this roadmap for the Caribbean Union Trade Federation.

——————-

Appendix VIDEO – How Credit Card Processing Works – Transaction Cycle & 2 Pricing Models – https://youtu.be/avRkRuQsZ6M

BancardSales
Published on Apr 4, 2014 –
How Credit Card Processing Works : http://www.bancardsales.com

This video explains how credit card payments are passed from the cardholder to the merchant bank account. Included in the video is the transaction cycle, and a detailed explanation of the two main pricing models. If you’ve ever wondered:
How Does Credit Card Processing Work?
How To Process Credit Cards?
How Credit Card Processing Works?
How To Accept Credit Card Payments At Your Business or Understanding the transaction flow?

Then you’ll want to watch this video. It’s part of a credit card processing basics video series so be sure to check back for more updates and additional videos in the series.
Additionally, you can check out http://www.bancardsales.com for more tips and tutorials on how merchant account processing works.

Category: Education

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