Saturday, December 05, 2020

Friday, December 04, 2020

MAS should issue the CBDC - i.e. eCash

 In this article, I explain why MAS should take the bold step to issue a CBDC (central bank digital currency) to replace the notes and coins that are now used.

Proposed merger of Grab and Gojek

 The competition watchdog wants to study if the possible merger of Grab and Gojek could restrict competition.

I suggest that they should look at this issue from a different angle.
The public has the choice of the following modes of transport:
a) Public transport - bus and train
b) Taxis
c) Personal transport - buy a car
d) Private hire (Grab and Gojek)
Given the abundance of choice between the different modes, the watchdog should not worry about the proposed merger of the private hire platforms.
The platform need to operate viably. The unhealthy competition between these two platforms is not good for consumers over the long term.
Most countries regulate taxi fares anyway. Surely, the merger of Gran and Gojek is similar to the concept of regulated fares - which is actually better for consumers.
I hope that the competition watchdog look at this issue from a broader perspective and do not hinder the merger talks between these two parties.

Talk - every citizen should be employed

 I have a plan to ensure that every citizen can have a job that pays an adequate income. They do not fear about being jobless.

This plan is for every body, especially the younger people and the elderly - who are now finding it difficult to get a job.

Do you like to hear this plan, and to contribute your views? Register for this talk.

WOTC - Safe entry recording

 Wisdom of the Crowd: 93% of the respondents said that the safe entry recording and contact tracing is not useful and should be stopped. 7% said that it should be continued.

WOTC - Safe entry ambassador

 Wisdom of the Crowd: 61% of the respondents said that the work of safe entry ambassador is largely unproductive. 22% said that it should be reserved only for elderly people. The remainder finds it to be useful to stop the spread of the virus.

Wisdom of the Crowd - New Issues


1. Can President Trump pardon himself?
2. Is there a delay in the rollout of Trace Together tokens?

Vote in

Wednesday, December 02, 2020

Reduce the cost of tunnels using machines

 Cities need to build tunnels for transport and other services.

The cost of tunneling can fall dramatically using machines.

WOTC - Covid vaccination

 Wisdom of the Crowd 92% of the respondents said that the government should provide covid vaccination to the people for free. 8% said it should be subsidized.

WOTC - Safe entry and contact tracing

 Wisdom of the Crowd: 71% of the respondents find the safe entry and contact tracing to be unproductive. 29% say that it is useful.

Wisdom of the Crowd - New Issues


1. Is sexual harassment a serious problem in NUS?
2. Is the sexual harassment in NUS worse than in other universities?

Vote in

CBDC - central bank digital currency

 Some people are worried about a CBDC (central bank digital currency).

They worry that the government can track how they spend the money - e.g. at places where they do not want other people to know.

They are afraid of "loss of privacy".

I find their fear to be exaggerated. If they think about the problem, they can find the solution.

Here is my reply.

a) Most of the transactions are for payments that are not confidential, e.g. payments for purchase of daily necessities, etc.

b) If payments have to be made anonymously, they can use an anonymous e-wallet. This e-wallet contain e-cash and can be used for payment. Nobody knows who is the owner of this anonymous wallet.

I have designed a system called the Tap Card. It allows an anonymous wallet to be created. Money can be transferred into this e-wallet to be used for paying by tapping the card.

The Tap Card have the option of identifying the owner (in case it is lost) or being anonymous.

The Tap Card can also be used by people who does not have a mobile phone to make mobile payment.

I mention the Tap Card just as an example of a solution to the privacy issue. However, most people do not mind using e-payment without hiding their source.

I am in favor of the CBDC and other forms of digital payment. I only want to explain that the fear and reluctance of "loss of privacy" is unjustified.

Sunday, November 29, 2020

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