why couldnt telstra do what nbn is doing, page-12

the below post is my opinion;

I am with you all the way Benson. I believe Telstra has a huge competitive advantage over the banks in driving the "mobile wallet" or even "mobile smartcard" technology.

Bob Hawke tried to introduce a smartcard years ago (in the late 80's i think). Typical labor party, they would probably barcode us all if they could. His approach was typical labor, use a legislative stick to force the legislation onto people, justify the legislation on the basis of Robin Hood rhetoric and then do some behind the scenes "stuff" to get a result. As one labor luminary once said "whatever it takes". I think the community could see the good aspects of such a card, they just didn't like the big brother element of it - where you could have labor pollies pulling extensive records on any political opponent for instance.

Well perhaps the mobile wallet would have the advantages that people probably could see in having everything on the one device.....without the big brother downside risks?

I think the end goal should always be to win market share in the banking industry through the sale of credit to consumers. This banking market is huge and Telstra needs to get into it - to give the company a substantial - positive - growth leg.

Benson I have been speaking to a few fund managers and floating the idea with them. All of the discussions have been very positive - I would be amazed if some of these fund managers are not also asking Telstra directors in person wether telstra has a strategy in the nfc / mobile credit / banking space. Only 1 fund manager that I spoke to has downplayed Telstra's competetive advantage in this banking sector.....and I think that is because they were repeating the same dogmatic positions that have been put forward by John Stanhope .....that essentially NFC and mobile wallets is a bank thing not a telco thing.

All the best mate, keep spreading the word, nobody has explained to me yet why Telstra is at a competitive disadvantage in the sale of credit / banking space.

I hold telstra shares and hope that they go up.

It would be good to have a debate on this site about what growth business telstra has the most competitive advantage in - I think it traditional core communication provision and secondly electronic transacting (aka banking / financial content).


disclaimer; the above post is my opinion and is not to be used for making any decisions. The above post has been submitted for entertainment purposes only.