In america today cellphones are seen as the hot new commodity they everyone has to have but in less fortunate countries cellphones can be seen as a luxury and as a way to make life a little easier.In countries like Kenya mobile phones can be used as a way to transfer and send money to people of different tribes and villlages.This can be done by in the way i see it like a tricked out western union but it is all by text messages and phone calls.
This helps people within the country because it helps to eliminate structor decline for example banks and bad roads. this is a huge step because the travel to these businesses are a long distance that can take days to get to and if when you get to the location and i is closed then ie seems that you ave just wasted your time. with this ides you are creating a mobile currency and helping envoke the law of one price. This law means that no matter where you go within a country if the currency is the same the the pricre can be set a the same for all people withsuch currency. With this law and the moblitity of cellphones there have been increase in the profits of food production and distribution because comsumers are paying less but buy more because the have the money at their leaser.
This has become the greatest thing to happen in any third world country in many years. In kenya . about half of the population is using phones to create a mobile bank . You can tell that it is working because the percent to income in villages have increased but anywhere between 5 and 30 percent . who knew that getting a phone could change you life this much
