Tuesday, 12 August 2014

Not quite net neutrality

Not quite net neutrality 

Recently, the current president of Ecuador said that the airwaves belong to the people, and then increased the corporate tax to 12% and the profit sharing to 3% for the workers.
The president wants more of the money the corporations make to stay in the country. This money will be used on social and educational projects.
The country's president, Rafael Correa, said that the spectrum belongs to all Ecuadorians and that the use of that spectrum should generate profit for the people.
Movistar, Claro and CNT are in negotiations with the Ecuadorian government to implement 4G service.

View of Salinas from the yacht club

Progress on the Pier

$4.5 B deficit 

In October of this year, Ecuador will be the first country in the world to introduce virtual money.
If you have traveled to Ecuador or live in Ecuador, you will know that the currency here is the US dollar.
There are a few problems with adopting another country's currency that bears some thought .
The first is that you cannot print more money. Paper money wears out, and has to be replaced.
Paper money gets taken out of circulation by hoarders, spent in other countries, and sometimes is destroyed for whatever reason.
This all contributes to a shortage of circulating money in the country.
One solution is to have virtual money. This can be used to pay city and state workers, the military, and state run concerns.
The Ecuadorian central  bank is working with cooperation to accept this currency. What is being asked is, "Will this virtual money have the full backing of the central bank, as is the paper money?"
There should be clarity , and a code of conduct and usage issued by the bank to support this endeavor.