India Tech Blogs
Back in the early days of the ATM machine, you could only transact on ATMs operated by your bank. If you were a Chase customer, you needed to find a Chase ATM to take cash out. That, of course, was a pain and the banks recognized it and formed roaming networks.
I have read, heard and even reported that resource-rich countries that dig a hole in the ground and seemingly pull out money are keen to transition their economies from exploiting natural resources to ones based on knowledge in science and technology. It makes sense since no matter how you feel about the concept of “peak oil” , fossil fuels are a finite resource. So sooner or later that ATM in the ground will stop dispensing cash. This reasoning has been partly behind Russia’s huge investments in making itself a player in the field of nanotechnology. As an outsider I have marveled at the machinations this flood of cash into a Russian nanotechnology initiative has initiated.
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