How to save Nation’s Economy fruom impending disruption.
For whom so ever interested.
AUTHOR: P Abraham Paul. Dated June 5 2017j
Seeing that Government and RBI appeared clueless of what was happening, I wrote to RBI and Government and to different Media, about the need of their urgent intervention, as can be seen in my blog site papaulsblog
In a presentation I gave in Institution of Engineers two years back on ‘Power and Perils of Money going Virtual’ and the urgent need to regulate it. wp.me/p1ZsI2-Ku I had explained how Money going Virtual is powerful but also could be highly disruptive in many ways unless it is properly regulated and harnessed.
Converting the disruptive potential as advantage is the way to go, to quicken Inclusive Growth and more, that can be realised by ensuring and retaining Money in its virtual form also legal tender.
TAX free INDIA.
Harnessing the Power of Money gone Virtual everywhere and for everything, give opportunity for Governments to generate enough revenue for its needs by levying a small percentage on every amount of money being transacted; a bye product and BONUS that can make India a TAX FREE Nation, by discarding all current forms of Taxations; Direct and else, GST etc. that are archaic in the Technology world.
I am sure that Government will be able to enhance its revenue at least by ten fold by moving over and Operate Money as Commodity as suggested herein without burdening people with other forms of duties and Taxes, Diect, GST or else.
The system’s and its functioning being envisaged as parameter driven, all sorts of flexibilities could be built in to enable differentiated charging of levies based on Users ID, place and nature of use, Country’s economic situation time to time such as severe Floods/Draught major natural calamities etc.
New technologies that handy for RBI look for are: 1) Crypto Currency to create ‘Money as Data’ 2) BITCOIN concept to create open its open ended e-Wallets, 3) advanced Block Chain Technology for its distribution and operation etc., can be developed and used as tools that India is fully capable of doing.
The Object and Concepts to attain it are important; there are aplenty out there to add ‘nuts and bolts’ and many fathers later to own it, when done.
Government should pursue and insist Indian IT companies to focus and concentrate more on programs helping Country’s progress other than creating NPAs and scoot.
Universal adaptation of the concepts. “Universally Governments Operate Money as Commodity” #UGOMAC
The Concept embedded can be adopted Universally in Countries across the World as explained in my paper ‘Universally Governments Operate Money as a Commodity’ #UGOMAC in the link wp.me/p1ZsI2-Yn
Further the system proposed envisage handling money transaction in any international currency and pave the path towards uniform practice of open Money management across the World.
One World, One Economy; the order of a righteous World.
Universally Governments Operate Money as Commodity can become handy to establish the concept of One World, One Economy and realisation of Universal Basic Income UBI with a Universal fund autonomously raised and contributed by every Government with #UGOMAC.
High time for the Governments World over to move over
to #UGOMAC “Universally Governments Operate Money as Commodity” that can eventually realize ‘One World One Economy’ and ‘Equitable distribution of Resources’ to enable ‘Eradication of Poverty’ and impoved ‘Standard of Living’ all across the world with assured ‘Universal Basic Income’ by creating a common fund contributed by all Nations.
Also it is the one and only way to effectively restrain proliferation of Terrorism of sorts by controlling money going into wrong hands for wrong purposes and to put a stop to Money in Politics which has become curse and downfall Democratic well being of Governments world over. Please see my blog: wp.me/p1ZsI2-11j