As a result, the patent system is transferring resources from guys trying to create the next Angry Birds and to patent lawyers who are creating no value.
In 1996, a humble oncologist named Doug Jackson bravely built an auditable and verifiable system of transferring ownership rights to gold and silver bullion in an online digital environment.
Take Olga Morawczynski, a 20-something University of Edinburgh doctorate student who recently spent over a year in Kenya, where she studied the use of M-Pesa, a system for transferring money by cell phones.
The project is aimed at transferring the ECCA Adult Distance Learning System technologies to the DGAEA in order to help it implement the national adult education and training system.
Broadly speaking, countries that are more ethnically or racially homogeneous are more comfortable with the state seeking to mitigate inequality by transferring some resources from richer to poorer people through the fiscal system.
The Faster Payments System was set up because bank customers found it frustrating that transferring cash from one account to another at a different bank took several days.