Necessity is the "Mother of Invention..."​

“If necessity is the mother of invention, discontent is the father of progress.” David Rockefeller.jpg

Last Friday was like the proverbial "visitation from hell." I made the naive mistake of thinking that I could actually have my own cash easily transferred from one place (Arizona) to another (California). Foolish me.

With the ever-increasing advent of security breaches and the accompanying banking laws which are ever more draconian...the ability to conduct actual and seamless commerce is being hamstrung...even in the World's last bastion of capitalism...the United States of America.

So, I had a relatively modest cash payment (few thousand) due me from a colleague in Arizona that I assumed could be transferred to me and in an immediately accessible format (cash). Well...was I sure wrong on that one! I had flashbacks to the time I showed up for duty as the de facto Entrepreneur-In-Residence at an Ethiopian-based NGO with a bunch of cash for the 6 month duration, back in 2013. To my chagrin, I came to realize that money transfers, including Western Union...only work one way....into Ethiopia ( are not transferable out. I started to feel the exact same way on Friday as I explored one method after another trying to get at my cash.

First lesson learned is that cash may NOT be deposited into another's bank account. Then, I learned that while Cashier's Checks could be deposited into my account, the bank would actually put a "hold" on the Cashier's Check for a day or two, weekends not counted and since there is a bank holiday this coming Monday...I would likely not get my actual cash in my hands until next Wednesday or so.

I examined such transfer services as, and even that "old faithful" Western Union but I was loath to pay 3% to 5% or more in "fees." It might not sound like much but my Scottish ancestry precludes me from just wasting money. That being said, my really, really bright Arizona colleague and I had a brainstorming session and we chanced upon a likely solution....

I would open up a new bank account at a branch of my friend's own National Bank. Then, we would do an "account to account" transfer at zero cost to either of us. I would simply remove my awaited cash at the bank branch or take it out with my newly issued (to be) temporary ATM Card. Simple? Not so much...

Have any of you tried to open up a new checking account lately? Well, I haven't for years and the process and paperwork had an eerie resemblance to buying a new home and executing those endless mortgage and note forms at the escrow company's closing session. One hour later I had an account...and my money. Just what I needed...another bank and checking account. NOT!

I am a "Business Problem/Challenge Solver" and I started putting my very unusual brain to work. Since I've been or am currently involved with so many ventures (at least a half a dozen seemingly unrelated ventures simultaneously)...I quickly came up with one perfect solution to my little dilemma of moving cash. It came about from a brilliant new vertical of my Vietnamese Travel Project. (see link below)

Vietnamese Travel Project

One of this Project's verticals involves the game-changing "Travel Token," a way for anyone (including the unbanked) to pay for their travel needs seamlessly, immediately and with only a minimal cost. This revolutionary product comes intact with a "funds transfer" component which in itself, will completely replace those painfully onerous and expensive funds transfer services. All is KYC-protected and "bullet proof" (my Vietnamese partners provide Cybersecurity for the Country of Vietnam) and each party simply receives an eWallet...completely free. Funds are added and distributed between parties with a modest .05% fee is earned by my Vietnamese Partners. The transfer is instantaneous and the fiat can be repatrioted in any number of simple ways. (see link below)

Money Transfer System

I have been working 1 1/2 years with the Vietnamese and the travel booking engine (1 million hotels with significantly discounted pricing, complete with airfare) is complete. The integration of the "Travel Token" as a form of payment with the booking engine is about to be launched. The eWallet and money transfer system is in place. It is now my intention to "solve" the issue described with an easy and inexpensive funds transfer....and once more, I am hoping to solve a challenge and make a significant profit through a "game-changing" technology.

Onward and Upward!

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Posted on February 19, 2019 .