Brother, Can You Spare a Tweet?

It is interesting to see how Twitter is finding itself atthe center of a host of new applications.

After all, why can’t we make other areas of our lives simple a la Twitter.

Hi Todd,

Micropayments are related to microcredit, an important concept in humanitarian efforts in the developing world. The United Nations declared 2005 The International Year of Microcredit. 

"Microcredit has been changing people's lives and revitalizing communities since the beginning of trade. Currently microentrepreneurs use loans as small as $100 to grow thriving business and, in turn, provide for their families, leading to strong and flourishing local economies. The year of Microcredit 2005 calls for building inclusive financial sectors and strengthening the powerful, but often untapped, entrepreneurial spirit existing in communities around the world."

The use of microcredit assistance first became widespread in Bengladesh in the 1970s.  Bangladesh's Muhammad Yunus and the bank he founded, Grameen Bank, which created a new category of banking by granting millions of small loans to poor people with no collateral, were awarded the Noble Prize in 2005 for microcredit missionary activities in the developing world.

Today the concept is in widespread use throughout the developing world including Nepal, the developing country I know best. Microcredit and micropayments are an important component of online fundraising for humanitarian causes using social networking such as Facebook.

All the best. - Kim