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Forbes contributor Jon Matonis (@JonMatonis) weighs in on the buzz over the “dongle explosion” seen recently. Excerpts:
“Apparently, [a card swipe dongle] passes for financial innovation in mobile payments but I file it under the ‘not-disruptive-enough’ category. Truly-disruptive financial innovation is already here with decentralized bitcoin. And, bitcoin doesn’t need a dongle!”
“The real action is taking place with solutions that route around the legacy networks by replacing the unit of account, or numéraire”.
“Bitcoin certainly has a slot in the digital mobile wallet of the future. Frictionless mobile phone remittances to a worker’s home country, such as Africa, may just be the killer app for bitcoin. I’m sorry but fancier buggy whips and dongles are not disruptive.”
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