The Financial System I

Our present financial system has been evolved from the early days of barter trade up to the complex system of today.  The economics of the early days were actually a cashless financial system; however they were subjected to many flaws and primitive.  The financial system I am suggesting.  It is cashless financial systems with near perfection but required high-tech devices and gadgets.

Payments are made through one’s esense (refer supercomputer), it needs no plastic cards, no actual currency and any other forms except one’s mind ware or the brain cell transmitting frequency.  A new electronic device “econnect” is needed.  Our mind’s decision is picked up by the econnect.  Transactions are concluded, the prices and details are showed to the buyer by ways of iphone, ipod, cellphone and table top monitors. The buyer agreed and he needed not do anything, his brain frequency of his agreed decision is transmitted to the econncet.

The banking business carries on as usual except there are no counters to do the banking transactions, no ATM machines either.  All cash transactions are updated by the supercomputers by the time any cash payments are done at the point of sales.  There is no currency so there are no cash deposits.  Cheques are done by ways of postings by the supercomputer, there are no cash cheques, post dated are the only cheques issued.  Cash cheques would have done as cash payments.  All post dated cheques would have to apply to the bank. The bank will used their criterion to accept and allowed their cheques to be issued as posted cheques.   The bank is not responsible for any dishonest cheques or any claims from third party of the dishonest cheques.  It is the customers’ duties and responsibilities to make sure there is enough fund when the cheques are due. The application for posted cheque is needed; the bank will have to uphold their reputation as a reputable and responsible bank.

The payer requests the bank at his choice that he has an account with bank for cheques issue through the supercomputer.  The supercomputer will vet his financial status, forecasting the likelihood that he is able to make good of the posted cheques.  It is base on his pattern of past revenue and expenditure.  The projection is not so good; supercomputer will signal to him the results of forecasting.   He is still insisting, supercomputer will send his request to the bank with the forecast remarks attached.  His bank is willing to accept and posted cheques shall be issued by way of posting his account by the supercomputer.  The supercomputer will not update the payee’s account except posting a remark and waiting for the due date to mature. The cheque is good on due date.   Supercomputer does nothing but carry on the actual updating of both payer and payee accounts. The bank will have attached a remark as a plus credibility of the customer. Vice versa on the opposite, the payer will have a minus in the bank records as a minus credibility.

Credit cards are issued in the normal way, the bank will vet through by their sets of criterion when the bank receive the application from the supercomputer. There are no plastic cards or any other forms except a notification to the applicants by the supercomputer. All credit cards transaction is done the same way as cash transactions.

Promotions of banking products and financial products are done in the normal ways, the promoters are not getting applicants approved through their principals direct, and they have to go through supercomputer. Promotions by online sites is needed to go through the supercomputer

The foreign tourists needed to register and have a file with the supercomputer like local residents. They will go around the country and carry on any transaction like local residents. However, the supercomputer is only keeping the information from their passport, nothing more nothing less, plus any abnormal routines and any incidents conducted or done by them during their stay in the country and monitoring their financial status.

Foreign exchange is conducted the same as the present usual way except all transactions are go through the supercomputer, the LCs, Bas, TT, bill purchases and any other financial instruments for foreign trading. Selling and buying of hard currency are needed to go through the supercomputer, all hard currency are collected and surrendered to the counters from the country exit and entrance points and accounts are updated by the supercomputer. Naturally there is no local and foreign hard currency within the nation.

Money exchange merchant or the bank conducting the selling and buying of the hard currency, the foreign tourist would have been deposited their hard currency in their account kept by the supercomputer.  They are at their liberty to sell the currency at any time by going to the money exchange merchant or the bank.  The transaction is done the same way as cash payments.  Supercomputer updates the tourist account and the accounts of money exchange merchant or the bank. 

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The Industrial and Commercial systems (2)

It is likely the contractors will become the backbone of new machineries inventors due to the specialized field they are in most of the time. The vendors are the force of new products designers or inventors as they know best what the consumers’ desires are. The consumers are able to become vendors within a click of a mouse so long they have the will power and the knowledge to become vendor.

The chain of goods distribution, shaping into a new era, the goods are sent to warehouses and distribute direct to retailers.  Dropping out the middleman, there are no wholesalers and distributors, but the vendors cum retailers.

Fishery retailers, they place the orders through the supercomputer, or there is standing order from the usual fisherman. The catch hauled into containers sends directly to the warehouse with cold room facility, the warehouse personals sort and grade, weight, pack and distribute according to the instructions of the fisherman. The instructions to the warehouse management by the fisherman are through the supercomputer.  The supercomputer request prices of the fisheries from the fisherman and do the billing accordingly, the payments, the update of accounts, tax reporting and any other associated towards the transaction are done by the supercomputer.

There are no wet markets, fishery retailers are housed in the shop houses or departmental stores with a shopping mall. Consumers get the supplies, by going to the mall or buying through home computers which are linked to the supercomputer. All retailers, the vegetable, poultry, meat and others are done the same way as per fishery retailers.

No vehicles are allowed in commercial centers, there are inter-connected by pedestrian bridges, escalators, walkalators, lifts, cover walkways and others.  Commercial centers may have no physical goods except displaying samples.  All goods sold will be delivered by underground delivery tube or objects moving systems from warehouse direct to consumers’ homes. The commercial centers shall become mainly entertainment areas. Sample of commodities are not the actual products/produce, there are the images projected by projector, the images showing actual outlook and the inside structure of the products on requests. The home internet buying, it is having the same images with facility of projectors installed.

Souvenir items, perishable items and small items are available for immediately delivered. These items are also to be delivered by the underground delivery systems on request.  Tourist is allowed to collect their bought items at the exits point of the nations. The tourist bought items are delivered direct from warehouse to the exit point of their wishes and it may change location at last request. Banking will only be done by internet and mostly it is done automatically by supercomputer.

Resorts are encouraged to be around in the commercial centers, especially the resorts with theme parts and entertainment fixtures.  Food outlets, cinemas, shopping malls, shop houses and hotels, these are the components of the commercial centers.  The whole of commercial centers, there are operating 24 hours. All public or private transportations are compulsory to operate 24 hours. Exotic food centers to be encourage, farms are encourage to breed the, snakes, crocodiles, squirrels, turtles and others. Prostitutions may have to be legalized.


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The Industrial and Commercial systems (1)

Factories are allowed to operate solely on the allocated industries areas, factories are operated by robots, and the robots are control by the supercomputer. The supercomputer is online with the owners or management of companies of those products manufactured by the factories. The companies owned the products but do not own the factories or manufacturing facilities. (The vendor)

Each industrial area has one factories management company, the management company may be government linked company (GLC) or private owned company and they are licensed to operate by the board of manufacturers under the Ministry of Trade and Commerce.  The manufacturing facilities are owned by the factories management company. (The contractor)

There is a strict law; the contractors are prohibited to manage companies of vendors.
Likewise, the vendors are not allowed to manage to business of contractors. There is conflict of interests.

The vendors will designed products with specific details and submit to the contractors through the supercomputer.  The vendors will request, the quotations together with the normal business details. The contractors will replied within a stipulated periods.  The difficulties (if any), the contractors will communicate to the vendors through the supercomputer. The finished products delivered to the warehouse commissioned by the vendors. 

The warehouse, there will have warehouse to accommodate all products and distribute according to the instructions from the vendors through the supercomputer. Warehouses are separated into three main warehouses, the normal, the specialized, and the cold room. Warehouses will be operated by the contractors other than the factories contractors and to be built and co-ordinate into the railways system.  They will be built at the station of the railway. There may have one railway station at each of the industrial site and the commercial site. Thereafter, there are interconnected, underground, overhead rails, lifts, conveyers, escalators, and lanes for cargo and pedestrian.

The industrial areas will have clear boarders between, the electronic and electrical products, the food processing products, the motor industries, the machineries products and others. Each industrial area will have a number of industrial sites and each site will house only one line/category of products.

The vendor will apply his license to operate the lines of business he know best.  He applied through the supercomputer, satisfied the procedure and all conditions fulfilled, the supercomputer acknowledged and granted the license, providing business entity and the name of business chosen by the vendor. The supercomputer will activate all necessary matters related to the business, the Inland Revenue file opened, the bank accounts opened, the accounting files opened, the daily operating system of the business activated and many others.

The contractor after receiving the inquiry or letter of intent, knowingly the vendor may have sent out inquiry to other contractor within the nation of other states/provinces.  The vendor may also source the products from abroad.  He will make sure his price is competitive.  His other problems, he is needed to source the raw materials with quality at a fair price.  He also has to get the most up to date machines for production. He must and he will be the one know very best of where to source raw materials and machinery.

The contractors are allowed by law to become vendors of manufacturing machinery. He may do the designing of the machines and enquirer from the machine manufacturing contractors locally or he will source the machine abroad.


Next Topic: The Industrial and Commercial systems (2)

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