10 000 years ago, humans used to trade goods, then they started to trade with shells, then gold and in the meantime a lot of different currencies. Our currency is still in it’s infancy and will improve a lot before being perfect. For example cash is something highly unpractical, we can see it in Venezuela or Zimbabwe, but most of all, it’s not easy to trade, it’s easy to fake and it has no intrinsic value, it’s just an IOU from a government. What you have on your bank account is no better, it’s still IOU, it’s expensive to move, it’s not easy to pay with, for example last time I send money to a friend, I spent 20 minutes online asking him his bank account information and entering them into my bank website. Then I had to wait for the bank to validate the account and then make my 10€ transfer. Crazy.
Local vs Global currencies
I’m a fervent defender of Global currency, for a simple reason, this is what we miss the most at the moment and this is the hardest thing to create. We already have local currencies in many places of the world, and in Switzerland you can already exchange your swiss franc at great rates against a lot of other local currencies. Though global currencies, there is just the dollar and the gold that we can consider at this moment. And I still can’t pay in 99% of the places in Spain in dollar. But this time is over and we will start seeing worldwide currencies blossom everywhere. It will make money transfer cheaper, safer and faster.
What happens if humans don’t work anymore
If humans don’t work anymore, how will we earn money, and what should be this money? The concept of base revenue is coming from many places those last years and we hear a lot of good. Will it be communist? No this is not the point, but we might have a revenue to use wherever we would like.
If you never saw this movie called “time out”, go online and watch it asap, this is about a world where people are not buying with a token based on nothing but based on time. And if you don’t have time anymore, you die. I really like this movie and it triggers many questions about exchange rate and money transfer.