Ben Milne is a payments outsider and founder of Dwolla, a new payment network based in the heart of the Silicon Prairie. The company continues to disrupt Visa and Mastercard by building useful and innovative online and mobile products on top of its open and low-cost payment network.
- Talk entitled: “Value, as a Technology Stack.”
- Processing fees pissed me off more than anything else in my life.
- Every time you exchange money with a plastic card, it becomes less and less valuable.
- You should be able to exchange your built value without it degrading.
- It’s less complicated to send money than it is sending a picture over MMS.
- Our physical location, or nodes, are becoming transactional. In other words, we can send and receive money based on where we’re located.
- I don’t think anyone would argue that putting a few billion dollars back into the economy (i.e., not being spent on processing fees) would be a bad thing.
- The ability to recongnize people in the room and send money to any device should be (and is) a reality for people. All without having to pay processing fees.
- The innovations in this marketing in the last 40 years have come on top of the stack.
- The way we’re moving money (in the U.S.) is exposing us in unnecessary ways.
- You swipe your card and 300 people behind the scenes get paid. That doesn’t seem right.
- Profit margins for restaurants are 3.5%. Mostly due to the way money is processed. That doesn’t seem right.
- The world is being networked. And it’s all being done wirelessly.
- The fabric of how we exchange money and value has already changed. It is now our job to distribute it so the economy benefits accordingly
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