In Science we Trust! (An optimistic scenario)
Let’s talk about money with an estimate of 630 Trillion $ in Derivatives Markets (contracts that derive value from the performance of underlying Assets, Indices Entities) and maybe up to 1.2 Quadrillion $. (Our Current Situation)
What is the main factors influencing monetary history?
- Trust (The most important factor)
- Need for Medium of exchange
- New Technologies (Metal Age, Paper printing , Electronic)
- Need for Unit of account
- Need for Store of value
- Sovereign Loans
- Sovereign Taxation
- political decisions
Law & Rules
- Trustworthy money survives.
- Adaptation of new Technologies is a must.
- Money needed in any network as a mean of exchange (Internet, Energy, transportation, etc.)
Examples from monetary history (Numbering relative the Law and Rules)
- Gold coins
- From cells to metal, from metal to paper, from paper to digital
- The Knights Templar
Predictions relevant to our current situation (Numbering relative the Law and Rules)
- The evolution of money through the revolution of decentralization: A Decentralization platform like bitcoin Blockchain providing from a P2P Network gives a platform of common trust. A successful decentralized ledger that allowed parties that did not know or trust each other to transact together would have a wide range of advantages. In the coming years, there is a possibility that a serious event may occur, like the financial crisis of 2008, or a FIAT currency defaults, thus will turn people to use digital currencies and look for more trustworthy environment like a Blockchain platform.
- Combine new Technologies like Artificial Intelligence (AI), Internet of Things (IoT) will maximize trust in digital currencies and Blockchain Technologies.
- We are in the midst of a massive paradigm shift from centralized institutions, top-down, to a world of distributed and collaborative power. Hence, in a near zero marginal cost society, the future networks of energy and transportation will be all in decentralized platforms of IoT with Blockchain technologies for money, contracts and credits.
I believe that the giant hierarchies (vertically integrated organizations that dominated the 20th Century economy) are responsible for the anomalies of current economic history. Furthermore, the shredding of vertical value chains, the creation of vast new horizontal value chains and the social change of people preferring access to common ownership, bring massive economic and social changes to business and society. It's people and communities who are at the heart of the new economic paradigm. People all over the world are building the collaborative economy . This kind of “anarchy” will free the world from Capitalism. “We have a chief, an invisible Christ, science” (Bacunin,1882) .
God and the State, Mikhail Bakunin
The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism, Jeremy Rifkin https://www.thezeromarginalcostsociety.com/
You can also view Jeremy Talks at Google https://www.youtube.com/watch?v=5-iDUcETjvo
If you are new in Digital Currencies try Andreas Antonopoulos video https://www.youtube.com/watch?v=qkxdys-Ek9U
You can Also see a Short Film from the barter to euro. I play as the Baker :https://vimeo.com/177568241