In the United States and other economically advanced countries, we tend to take information for granted. With the proliferation of smartphones and ubiquitous data networks, we literally have information at our fingertips 24/7. But in less developed countries, that’s not the case. Information is as scarce and valuable as gold.
Slowly, but surely, that’s beginning to change as technology creeps into the furthest corners of the world. In Peru, a new company is using basic text messaging technology to help local gold miners.
Peru is home to some 150,000-200,000 ‘informal’ artisanal miners. These laborers scrape out a living mining gold by hand on small concessions. They sell their metal to local buyers, and that’s where the problems can begin. Without knowing the current spot price of gold, miners can easily be tricked into accepting a lower price.
This post was published at Schiffgold on APRIL 5, 2017.