Google Global Dollars Idea for Google 10^100

Create an international online currency exchange that will work in every country, and therefore be accessible to the worlds poor.

The poor in the third world don't have access to rich markets. This project seeks to open developed markets to the global poor.

I'm going to give an anecdote to illustrate: I met a woman in Thailand with a MBA. I asked what she did and she said "Sell silver bracelets on ebay". What!?!? An MBA and thats the best you can do? She explained that the local market for labor would pay her well as an MBA, but not as well as selling $10 items to USA consumers. I asked why she didn't have competition from other less educated people in Thailand, eroding her high margins. She said ebay requires PayPal which in turn requires a USA bank account.

In another example, I was speaking with an Ashoka fellow in Uganda who said that one of her primary difficulties was getting money out of the US and into Uganda reliably. I asked about just opening two bank accounts, but it turns out there is a long list of reasons its hard.

My proposal is simple: A PayPal like global money exchange service that works reliably. This will solve the practical issue of how poor people can do business with rich people. Political leaders can authorize free trade. However, we also need the practical tool that makes this trade possible for normal people. I believe the practical tool will actually do more to eliminate poverty.

Walmart and other big corporations do engage in this sort of international trade. They do employ people in the third world. But because they need to act at scale, they can't reach people everywhere, typically they only reach highly centralized individual factories. I'm basically trying to allow smaller scale companies and individual enterprises to function in the domain of international trade.

Category:

Nonprofits & Activism

Tags:

• Social
• Enterprise
• Economics

[Wexner1234]

Services could be exchange via a internet platform through that has created a purchasing power parity. One hour, for instance, equals Global Dollar. What you are proposal appears similar to Time Banks, but through global, internet platform. It would be a great way to better integrate the less developed countries to the develop world.