mugtech wrote:It does say a lot about the 21st century if the digital currency really is designed to help the poor who cannot afford a bank account by allowing them to use their cell phone instead. Does the purchase and monthly use of a cell phone cost less than a bank account? Even if one is charged a $10/month fee for banking in the USA, a cell phone is much more expensive. What about in EC?
Electronics including cellphones are more expensive in EC than USA. However, a simple "celu" can be purchased for under $50, and there are reports that refurbished phones can be gotten for half of that amount.
Folks in Ecuador are more likely than in the US to buy cell minutes rather than commit to a fancy calling plan. Here in Quito there are a basillion tiendas where you can buy "pocos minutos" or as much as you would want. Pop in, tell 'em how much you want, and it's loaded into the phone in seconds.
cccmedia, Quito