Net Loss

Net Loss

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Newman first tells the story of the US federal government's crucial role in the early development of the internet, with the promotion of open computer standards and collaborative business practices that became the driving force of the Silicon Valley model. He then examines the complex dynamic of the process whereby regional economies have been changing as business alliances built around industries like the internet replace the broader public investments that fuelled regional growth in the past. A radical restructuring of once regionally cofused industries like banking, electric utilities and telephone companies is under way, with changes in federal regulation helping to undermine regional planning and the power of local community actors.Wells Fargo would become the first bank to issue aquot;digital certificatesaquot;a€”a means of authenticating the identity of customersa€”to businesses wanting to collect payments over the Net. ... the purchasera#39;s credit card over private networks, then relay that information back to the business instantaneously. ... was instrumental in pushing forward agreement between various firms in regard to electronic payments.

Title:Net Loss
Author: Nathan Newman
Publisher:Penn State Press - 2010-11-01

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