Five Billion Smartphones between Now and 2016….

http://www.businessweek.com/articles/2013-01-10/charlie-rose-talks-to-qualcomms-paul-jacobs

Paul Jacobs of uber cool Qualcomm (I am a shareholder) recently did an interview where he described the growing market for smartphones and how they are subsuming the PC.

We are lucky at GDC that we aren’t raising venture capital because we have not yet perfected fully how to tell the story of the huge opportunity we have in providing the infrastructure to enable cross border commerce to the non-consuming populations in the worlds unconnected markets.

The foundational elements of providing the ability to globally connect are being solved by the proliferation of smartphones by mobile operators such as Zain, Bharti, China Mobile and others. Once people can connect then they naturally begin to transact.

Currently the ability to engage in cross border commerce is limited by the ability Identify, Deliver and Collect Payment. Things like credit profiles, risk assessment, distribution logistics, address verification, global mobile payment acceptance all are extremely difficult in today’s environment.

Solving those problems will unleash a torrent of pent of demand into the global economy and drive global growth for decades to come. I’m happy to be a part of this effort and hope to see how our efforts at GDC will drive this.

Excelsior