Saturday, September 02, 2017

Wisdom of the Crowd - new issues

Here are the issues for your voting

a) Did the hospital in Johor Bahru attended promptly to the Justinian Tan who was injured in an accident?

b) Did President Tony Tan performed his duty well during his term of 6 years?

Vote in
www.wisdomofthecrowd.sg

Wisdom of the Crowd - results

Here are the results of the voting in The Wisdom of the Crowd.

a) What is the likely cause of the collision between the US destroyer and the oil tanker? (40 Votes )

75% said it is a human error.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=235

b) Do you agree with the move to cut down sugar in soft drinks? (40 Votes )

50% support this move. The others are somewhat sceptical.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=236

c) Are you willing to use a e-wallet for cashless payments? (39 Votes )

69% are willing to use an e-wallet operated by a start up or a large company. 36% still prefer to pay by cash. The support for AliPay and Wechat Pay is quite low.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=237

Wisdom of the Crowd - results

Here are the results of the voting in Wisdom of the Crowd.

a) Why does PM Lee wear maroon instead of pink shirt at the National Day Rally? (36 Votes )

Be prepared for some humorous answers.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=238

b) Do you prefer PayNow to access your bank account or an e-wallet? (34 Votes )

Clearly the preference is to use an e-wallet than to link directly to the bank account.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=239

c) Do you agree with the explusion of Prof Huang Jing? (30 Votes )
The majority disagree with the expulsion and give their reasons.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=240

Friday, September 01, 2017

Business model for E Wallet

I expect E Wallet to be ready in a few months time, with linkage to the bank account using PayNow gateway (which I hope will be provided by the Association of Banks).

My business and marketing plan is:

a) Give an incentive to agents to sign up 5,000 vendors (i.e food stalls or retailers). The agent gets $25 for each vendor. Budget $150,000, including overheads.

b) Give an incentive to consumers to use E Wallet. They get $10 for spending the first $50. I plan to sign up 25,000. Budget $250,000.

c) The other upfront cost of setting up the operation, including computer system, is $300,000 (say), The total capital is $700,000.

d) The merchant pays 0.5% for each transaction but this is waived for the first 3 months. Average value of transaction is $10. they pay 5 cents. Each vendor handles an average of 50 transactions a day using E Wallet, so their fee is $2.50 per day (after 3 months).

The merchant spends $75 a month on E Wallet. I estimate that the cost of handling cash is 2% of sales, or $150 a month (based on sale of $7,500). So there is a productivity saving for the vendor.

e) The E Wallet company earns a revenue of $2.50 X 5,000 X 30= $375,000 a month. After paying salaries, marketing and other expenses, the margin is 20% (say) or $75,000 a month.

f) The initial investment can be recovered in 1 year. This should be a good business model.

I wonder if the ordinary people are interested to invest in this business? I may set up a social enterprise and allow the vendors and customers to take a share in the business. Just thinking.

Wisdom of the Crowd - new issues

Here are the new issues for voting in the Wisdom of the Crowd.

a) Is it a good sign that graduates and PMETs are being Uber and Grab drivers?
b) Should Singapore discontinue the immigration card for visitors to enter Singapore?

Vote in
www.wisdomofthecrowd.sg

Comedy of the Elected President - act 7 on the way

The Comedy of the Elected President went through six acts. I am now writing act 7. I do not need to imagine what how this comedy can evolve. I just follow what actually happens. Reality can be more bizarre than the imagination, right?
http://www.tankinlian.com/ArticleDisplay.aspx?ID=1296

Make cashless payments voluntary and convenient

Some people are against cashless payment because they think of the 10% of people, who are elderly or poor, that cannot adapt to this method.

This worry is overdone.

We should encourage cashless payment to increase convenience and productivity. But it does not mean that cashless payment will replace the use of cash totally in the food courts and shops.

The food courts and shops can continue to accept cash from customers who cannot use cashless payment. They will make it convenient for customers to adopt cashless payments, if they wish to.

I expect that most customers, who have a smart phone, will opt for cashless payment, similar to AliPay and WeChat Pay in China. They have shown that the change can be made.

Remember, that China used to be 30 years behind Singapore. They are now 5 years ahead of us. If we do not change, they will be 30 years ahead of us in a few years time.

This video shows how E Wallet can be used for cashless payment. It will be free for customers and low cost for vendors, such as hawkers and retailers.

https://www.youtube.com/watch?v=v_27F2mrehM&t=147s

Thursday, August 31, 2017

Wisdom of the Crowd - new issues

You can vote on these new issues

a) What is your view about the campaign slogan, "Do good, do together"
b) Did Singapore perform well in the South East Asia Games 2017?
c) Who will you vote for as President of Singapore

Vote in
www.wisdomofthecrowd.sg

Vote and win a prize

When you submit your votes at The Wisdom of the Crowd, you can win these prizes.
http://www.wisdomofthecrowd.sg/page/115

Voting is easy. For each issue, you are given a few choices. You select the most appropriate choice.

Wisdom of the Crowd - results

Here are the results of the voting.

a) Do you agree with the three long term issues raised by PM Lee at the ND Rally? (41 Votes )

78% voted that they are totally disappointed. PM Lee is distracting them from the real issues of concern.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=233


b) How well did PM Lee perform at the ND Rally? (38 Votes )

63% said they are totally disappointed at his performance. Another 32% said that they are somewhat disappointed.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=234










Wednesday, August 30, 2017

Bus display to show Sequential Stop Number

I went to MacPherson Road and had to take bus 90 to change to 857 at Jalan Toa Payoh.

I was not familar with the road and was unsure which side of the road to take. My friend asked me to take on the same side of the road, but he was not sure.

After a few stops, I was not sure if I was on the right side of the ride. I asked the driver. He could not understand me. He asked if I was going in the direction of Ang Mo Kio. I confirmed. He said it is a few more stops.

Later, I came to the familiar junction. It was all right.

If the bus had displayed the sequential stop number, I would have been more sure.

I wonder when the Land Transport Authority would put in this display?

Wisdom of the Crowd - new issues

Here are the new issues for voting.

a) Is it wise to hold the second industry briefing on the High Speed Rail in London?
b) What is the impact of National Service on Singapore males?

Vote in www.wisdomofthecrowd.sg

Wisdom of the Crowd - results

Here are the results of the voting in The Wisdom of the Crowd.

a) Do you agree with the three long term issues raised by PM Lee at the ND Rally? (41 Votes )

78% said that they are disappointed that PM Lee is distracting us from the issues of real concern.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=233


b) How well did PM Lee perform at the ND Rally? (38 Votes )

63% said that his performance is totally disappointing. 32% said that his performance is disappointing and worse than previous years.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=234

Tuesday, August 29, 2017

Move to cashless system for public transport in2020 or earlier

The authority has planned for public transport fares to be cashless from 2020, i.e. 3 years time.

I conducted a survey at The Wisdom of the Crowd.

Slightly more than 50% said that the operators should continue both options, i.e. cash and cashless, to cater to the elderly and tourists who are not familiar with the cashless system. 36% said that the cash option should be continued in case the cashless system breaks down.

http://www.wisdomofthecrowd.sg/chart.aspx?ID=223

I disagree with these two options. Here are my reasons.

a) The cashless system, i.e. EZ Link, card is easy to use by the elderly and tourists. The staff can guide them. After that, they will get used to it immediately.

I have travelled to several cities as a tourists and adopted their cashless system easily. This is also the experience of most people. If you can travel to another country, you can get used to their cashless system quite easily.

b) The incidence of a cashless fare system breakdown has not occured in several decades in Singapore. Even if it does happen one day, the cash option will not work. Imagine trying to collect cash from 1 million people in a day.


We should move towards the cashless option in 2020 or even earlier.

Will the presidential election be a walkover?

The three candidates for the reserved presidential election are filing their nomination papers. Will there be a contest or a walkover?

The Crowd have voted on this issue a week ago. Here are the results.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=213




Monday, August 28, 2017

Wisdom of the Crowd - Results

Here are the results of the voting.

a) What should Desmond Kuek, CEO of SMRT do, following the frequent breakdowns? (47 Votes )

70% said he should resign. Wow!
http://www.wisdomofthecrowd.sg/chart.aspx?ID=229

b) Is it wise for Li Shengwu to leave Singapore toavoid being detained for the court hearing? (45 Votes )

77% said it is wise for him to leave Singapore for the time being. Wow!
http://www.wisdomofthecrowd.sg/chart.aspx?ID=230

c) How can we help older PMETs to keep their jobs or find new jobs? (44 Votes )

70% said that E-Pass holders should also pay a levy, similar to S Pass and Work Permit holders.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=231

d) If President Trump is impeached, what will he do? (36 Votes )

44% said he will fight the impeachment in the Senate. 30% said he will refuse to testify.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=232






Wisdom of the Crowd - new issues

You can vote on these new issues today.

a) What is the current salary of the President of Singapore
b) Is climate change causing severe weather conditions that cause damage around the world?

Vote in
www.wisdomofthecrowd.sg

Sunday, August 27, 2017

Wisdom of the Crowd - results

Here are the results of the voting on these issues:

a) Will you avoid attending high profile, crowded events, to avoid terrorist attacis?

Most of the respondents say that they will avoid these crowded events.
http://www.wisdomofthecrowd.sg/chart.aspx?ID=227

b) Who is the smartest and most capable minister in Singapore? (52 Votes )

The majority said that they do not like any of the minister. However, you can watch the choice of the remainder.

http://www.wisdomofthecrowd.sg/chart.aspx?ID=228

Wisdom of the Crowd - new issues

Here are the new issues for your voting:

a) Are you disappointed that Today paper has stopped the print edition?
b) Did Singapore perform well at the South East Asia Games?

Vote in
www.wisdomofthecrowd.sg

You will win a prize.

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