I believe Finance can become better .
I believe Finance should help anyone achieve his dreams and make the world a better place .
I believe in Social Finance .
In Social Finance, all members can get Social dividend (or Social Credits) to their account based on their contribution to the society.
Social finance can apply to any type of financial transaction : trading, investing, payments and payment methods, virtual credits, virtual goods, insurance, debt, tax payments, IPO, M&A and any form of banking.
If truly all the members of society try to help one another, for example, donate every month for the health of other can replace Insurance, by building a social insurance network . IPO and fund raising are being replaced by Crowd funding .
Anyone can use Social finance, all Social Finance transactions are transparent, and all transaction are with virtual credits.
Virtual credit is better than money, it has less constraints and friction and therefore can move faster and generate more opportunities for more people, any member constantly Social Credits to his account for doing any work for the network, people choose how much to contribute if at all.
The world is becoming smaller, socially connected, transparent, and based on trust (rather than prices), and therefore finance should adapt and become social finance. Free for everyone by everyone.
Thomas Edison Invented “a stock ticker, a mechanical vote recorder, a battery for an electric car, electrical power, recorded music and motion pictures.” . WOW this person invented so many things 100+ years ago, that it makes all of the current “innovation” period in the internet look small compared to that. Steve Jobs invented a small machine to hear recorded music on, and how people buy recorded music. Thomas Edison Invented recorded music. Soon the internet will really start changing our life, Social computing a form of programming which is dynamic and constantly changes with humans constantly changing code and updating the network in real time, will enable much faster inventions coming to life, and we will see a boom similar to the one more than a hundred years ago.
Social Finance is key for that transition to happen, Social Finance accelerates the formation and exchange of finance (raise money faster, collaborate to invent faster, develop faster etc, launch faster, create financial model faster etc’).
Social Finance is soon going to over take traditional finance, its just a matter of product.
Social Finance, and Thomas Edison
I believe Finance can become better .
About Yoni AssiaFounder and CEO of Etoro.com
- Great 2013! Now onto 2014…
- eToro meets David Cameron, the British Prime Minister via Future Fifty
- Start-up Course: Back to the Future- Changing the world today and tomorrow
- Start-up Course Web2.0…There Once Was a World Without Web.
- Fucking Valuations- Out With the Old in With the New… Startups course class 3
About The Author
Yoni Assia is the co-founder and CEO of eToro.com
- Startup course – Peter Thiel’s “The Last Class You’ll Ever Have to Take” July 4, 2012
- Startup and Management 2.0 – Party Like It’s 1999? Learn to Dream and Disrupt September 23, 2012
- #osaka #Japan October 30, 2012
- Dinner in a box on the train to #Tokyo October 31, 2012
- Why The Future Of Money Is In Japan November 4, 2012
- London Wants to be the Fintech Capital of the World September 21, 2014
- The Startup nation’s digital finance revolution September 15, 2014
- Snapchat worth 10 Billion USD … I thought it was crazy at 3. September 1, 2014
- Moonshots in Faraway Places: Why Eric Schmidt called me an idiot June 24, 2014
- The Virtual Social Network June 6, 2014
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