What is it when a medium size company negotiates airline and hotel discounts based on volume? Those discounts go onto the company books and are used over time, just like a savings account. In 1985, medium sized companies could not do this easily, searching for the proper set of discounts was costly in the Peter Diamond sense. So the travel budget was real money, sitting in a real bank deposit. Today negotiating and setting a large deposits of hotel discounts is a few clicks on the web, maybe a phone call. All companies do it. That is lost business for the standard banks.
Banks want that business back, so banks need to have those discount points tradable. Banks need to get into the discount point business, and they need smart cards and banker bots. Banker Bot is especially useful if a trusted bank like, Bank of America can offer a no arbitrage savings and loan business on frequent flyer miles. That is a big win for everyone, the bank, the airlines and the flyer. Banker bot can create networks of discount points, so the correlation between hotel discounts and airline discounts match, then everyone wins to the extent that hotels and airlines share customers. If the banker bots trade, then tourist industries can buy and sell both discounts, adjust their capacity, another win.
Now we make this capabilit7 available to consumers via the smart card. The smart card can purchase in the optimally matched price of dollars plus discounts. This is all a must win business for traditional banks. All of these banks need to jump in with both feet and push the smart card and banker bot technology as far out into commerce as they can.
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