The Corporate ScoreCard

"The Results 2013" was an analysis of various development programs by the World Bank The aim of the programs is to achieve the Millennium Development Goals. A few are listed below.

• Recruitment and training more than 4 million primary teachers
• Training around 2.7 million health workers
• Antenatal care to more than 188 million women
• Construction/ Rehabilitation of more than 189000 kms of roads
• Access to improved water source to 144 million people
• Increased lending

The Corporate Scorecard has three parts, Tier 1, 2 and 3. Tier 1 includes the Development Context, Tier 2 has Country Result supported by the banks, Tier 3 has Development outcomes and Operational Effectiveness Tier 4 talks about Organizational Effectiveness and Modernization.


Development Context Tier )

In this the indicators are Growth, Jobs Property, Institution and Governance, Human Development and Gender, Sustainable Development, Finance Pri8vate Sector Development and Trade. This includes an analysis of the complete development process in the countries and the outcome in a long term perspective.


Country Results Supported by Banks( Tier2)

In this the indicators are Support to Institutions and Governance, Support for Human Development and Gender, Support to Sustainable Development, Support to Finance, Private Sector Development and Trade. This indicator will prove how the World Bank supports the banks to achieve MDG

Development outcomes and Operational Effectiveness ( Tier3)

Indicators of this tier were Development Outcome rating, Lending Operations, Knowledge Activities and Control statements. These indicators will analyze the Management performance of the Banks

Organizational Effectiveness (Tier 4)

The indicators tells about on how Banks manage their skills, capacity, Resources and projects. In Kenya is the greatest example of the Operational Effectiveness. World Bank with the help of IDA (International Development Association which support the poorest countries, by giving loans and credits), IFC (International Finance Corporation) and from MIGA (Multilateral Investment Guarantee Agency) set up three thermal power generation projects and a geothermal project owned by the private sector which has a generation capacity of 270 MW.


In Maldives new schemes for waste management were introduced with the collaboration of private and public entities with the assistance of IFC and IDA. This scheme's investment was around $50 million and the process included waste collection, transportation and disposal. This became a successful project and 70% of the countries waste is disposed locally which resulted in reduced greenhouse gas emissions, reduced air, marine pollution and an increase in power

G-SIBS in 2013 a Report by FSB

The Financial Stability Board headquartered in Basel, Switzerland monitors and recommend amendments to the financial system. The members are G20 economies, European Union and former Financial Stability Forum. FSB released this year’s. G-SIBS (Global Systematically Important Bank list in November. This report is about the amount of capital these banks have to hold to face any economic crisis.

This report cautions banks on the additional amount of capital they have to add up to face any financial downturn. HSBC and JP Morgan Chase have to add an extra capital up to 2.5%. Barclays, Citigroup, BNP Paribas and Deutsche Bank are running short of capital by 2.0%. Bank of America, Credit Suisse, Goldman Sachs, Group Credit Agricole, Mitsubishi UFJ FG, Morgan Stanley, Royal Bank of Scotland and UBS has to add their capital by 1.5%.

The last influencers on the world economy are People’s Bank of China, Bank of NewYork Mellen, BBVA, Groupe BPCE, Industrial and Commercial Bank of China LTD, ING Bank, Mizuho FG, Nordea, Santander, Societe Generale, Standard Charter, State Street, Sumitomo Mitsui FG, Unicredit Group and Wells Fargo and they have increase their capital by 1%.

As all the institutions are working on the policy to make more returns in the lowest capital, the decision of the FSB will force the G-SIBS to create new policies and new schemes. FSB has given time frame for resolution planning for these G-SIBS. The plan includes 1) Establishment of Crisis Management Group within 6 months, 2) Development of recovery plans within 12 months, 3) Development of a resolution strategy and review within CMG (Crisis Management Group), 4) Agreement of institution specific cross-border cooperation agreement within 18 months, 5) Development of operational resource plan within 18 months, 6) Conduct of resolvability assessment by CMG and resolvability assessment process within 24 months.

A Report on Digital Currencies

As the Bitcoin creating so much of buzz in the market it would be interesting to know the virtual currencies which hit the market and how they performed and their result in the long run

Beenz 1998-2001

Founded in 1998, in London by Charles Cohen, Beenz.com offered online currency which could be spending with participant merchant. One among the partners was Mastercard. Beenz.com raised 100 million from big companies like Oracle, Gucci, PPR and, Italian bank mogul Carlo De Benedetti. Purchasing of the currency was at local rate fixed by the company. The failure of Beenz started when people loosing confidence and miss selling. The company shut down all the operations in 2001.

Flooz

A year after the launch of Beenz.com, Flooz based in the New York went online for internet traders in the form of promotional bonus which can be used for merchandising purposes. The company had to shut down in 2001 based on the allegation by FBI that Russian stooges are misusing the credit card numbers for money laundering scheme. It’s an irony that Whoophie Goldberg, the comedy actor was the endorsing the brand!!!!!!!!!!!!1

Internetcash,

In 1999 itself Internercash started its operations but in 2001 it had to shut down its operations due to the failure of its business model. It was based on the prepaid concept, and the cards were sold in the denominations of $5, $10, $25, $50 and $100. They made good profit but they invested in building secure network, maintaining the architecture and card generation. Even though the company failed,their architecture was adopted by many companies including Visa and MasterCard.

E-Gold

This digital gold currency launched in 1996 and had millions of members but stopped its operations in 2001 however managed a re launch in 2001. The did a great deal of business in 2008 more than $2million worth of metal transaction in that year itself! The US based company's year to year turnover was more than 100%.

The company was based on a trust called "E-gold Special Purpose Trust which used to handle the physical metal for the members. The overwhelming success of this gold currency invited many hackers and phishing companies who also copied their business model including OSgold.com which operated with no gold! The site was used for many illegal activities and they had to shut down but they managed to re launch by 2011.

Digicash

The internet boom in 1990s witnessed another digital currency called Digicash, which was working on cryptographic codes assuring anonymity to the clients. During the partnership with banks they were restricted from keeping anonymity of the memebrs and thus went bankrupt in 1998.


CyberCash

This Virgina based company, went on with a $300 million IPO and went bankrupt in 2001 and they shut down their operations which they started in 1994. The company was bought by the predecessor of Paypal, Verisign.


Facebook Credits

Launched in 2009 and taken away in 2012. Working in the Facebook platform this currency was used to buy the FB apps and games. Available in 15 currency forms , they failed to create a currency for any other purpose than games. FB payments used to handle these transactions but they stopped operating in this currency and announced the transfer to the local currency.

Amazone Coins

The recent member in the virtual currency bandwagon, Amazone Coins was launched in May 2013 to purchase within Amazone.com.

Bitcoin is it a Future Currency?

Bitcoin is growing in a fast pace with around 12 million Bitcoin wallets by November 2013. This first ever decentralized crypto currency was published by Satoshi Nakamoto in 2009. He left his virtual presence in 2010 leaving many concerns behind. Even his name SATOSHI NAKAMOTO is believed to be coined from few companies Samsung, TOSHIba , NAKAmichi, and MOTOrola!!!!!!!!

The transaction in Bitcoin has grown tremendously over the years and even banks are speculating that Bitcoin will replace real money very fast. The concern is that Bitcoin is created in such a way that the number of Bitcoin will never exceed 21million and 75% is already been created. The value of Bitcoin in 2011 was $1 but it has risen to $ 140 recently.

This currency system is very much unlike the normal currency system and it does not have a Central Bank or central repository. Surprisingly Bitcoin economy will never come across deflation since it is not standard monetary unit of measurement of value/cost of goods, services, or assets.


For the beginners Bitcoin is surely a complex product it exists in a virtual world, and is a peer to peer currency. A currency generated through open source code with all the features of a currency. Operating in Bitcoin market requires strong technical know-how.
If you have to make an online payment the recipient company ABC will create a new Bit coin address and directs you to send it from your digital wallet which you have stored in your computer. The 2 keys are private and public key generated by the ABC company
This private key ie the Bitcoin address created by the company ABC is known to ABC only, and the public key is visible to all in that Bitcoin network. The donor has the benefit of being anonymous. The private key is signed electronically by the Bitcoin client and it can be verified by the public key. The entire transaction is broadcasted to the entire network

Bitcoin is called as a crypto currency because it uses encryption for the safe and secure transaction. This peer to peer network connects a group of computers allowing all the users to share the information visible to the group.



Chinese central bank banned financial institutions from Bitcoin transactions since the virtual currency soared in its value and investors planning for huge investment on this. People’s Bank of China has slammed Bitcoin as a currency with no meaning.

Bitcoin is growing despite of all the speculation and the first Bitcoin ATM was opened in Canada in October 2013. But this virtual currency is not free from the bugs and in March 11 2013, there was a technical block happened between node running software version 0.8 and 0.7 caused a Blockchain fork forming separate ledgers for software version 0.8 and 0.7 where the entire Bitcoin transaction all around the world is shown in one ledger. The prime and crucial difference being a decentralized currency was in question by this software issue.