Wednesday, December 3, 2008

The Next New Thing in New Media

I am reallyoverwhelmed with what is available in the new media technology space as it is so it hard for me to imagine what will be the next new thing. I couldn't have anticipated the rise of social networking and twitter for anyone over the age of 30 but many of my friends and family are on Facebook on a daily basis. Also if I had a really great idea I probably wouldn't want to post it here for all to read. (A few years ago I had a great idea for something and later someone came up with the same thing!). I will predict that mobile will be the next platform with a payment system included. Paypal needs the competition! I think with the better security and encryption now available banks will be willing to get in to the digital payments space. I am sure there will be problems but the groundwork is being laid as we speak. New smart phones are becoming more affordable (Walmart is going to start selling the iphone) and many sites are working on an ID that works for many services. With cameras attached to the phones iris recognition or some sort of sophisticated security would be feasable. The banks could get in on the ground floor and make small transfers and transactions reliable and affordable. I know some of these features are available in other countries but for it to be in the world's largest economy (for now) it could be huge. This could also allow for small payments to be easily made to websites that are trying to monetize its content while not having it so tedious as typing in credit card and billing address information all of the time. I think there a lot of businesses that would be interested in this because now they are giving away a lot for free. Can you imagine? "Mom, can you text me 20 bucks!"

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