If Facebook or Google create their own currency, they can control our lives

INTRO:

Dystopian fiction – from Anthony Burgess’s A Clockwork Orange to Russell T Davies’s spectacular recent BBC1 series Years and Years – is usually intended to take elements of the present and then imagine a future in which they have become inescapable, so as to warn us of what might already be in our midst.

But the 21st century is challenging this technique in one bracing sense: the way the world now seems to race beyond the wildest aspects of our collective imagination before we have even started to think about what might come next. Consider last week’s news about Facebook, and the fact that three years of corporate disgrace – and rising noise from legislators about bringing the tech giant to heel – have yet to slow its terrifying quest to insinuate its workings into every area of our lives. Now, in a move that could have been taken from a futuristic novel, it wants to create nothing less than a new global currency.

Mobile data: Why India has the world’s cheapest

The BBC report, citing a UK-based price comparison site, said that 1 gigabyte (GB) of mobile data cost $0.26 in India (£0.20), compared with $12.37 in the US, $6.66 in the UK, and a global average of $8.53.

But many Indian users said they were actually paying less than $0.10 a GB. Customers in the US and UK too said they were paying less than what the survey reported.