Inhale The Future Exhale The Past - Why Currency Design Is The Key To The Future

Currency is the medium of value creation and exchange. Subject to certain objectives of the economic policy, the currency design defines the creation and distribution of value, and ultimately, the world we live in.

If we are content with concentration of power and wealth in the hands of the few and permit them an unrestricted growth, then nothing needs to change. If we, however, value self-actualization, healthy and prosperous society and sustainable environment over accumulated exponential profit, then currency needs to change.

Although not a panacea, I believe cryptocurrencies are the possible solution.

The following 6 inherent attributes of cryptocurrencies empower the people and will eventually eat the world of national currencies:

1. Open access – no prerequisites for participation.

2. Trustless consensus – no middlemen bias.

3. Shared rewards – no more separation of labor and capital.

4. Token network effect – incentive to participate before the network effect.

5. Shared ownership over innovation – market-network effects will create disruptive innovations that belong to the community, not to corporations.

6. Preservation of value – token economics preserves the distributed wealth and power within the community.

I envision the future consisting of the following empowering interconnected layers created by these benevolent currencies of the future:

1. Open source innovation infrastructure governed by smart contracts and token economics which incentivizes innovations that advance human well-being and the sustainable environment.

2. Decentralized economic layer with blockchain based production, supply-chain, trade, transactions and business contracts.

3. Decentralized open artificial intelligence layer that is used for benign purposes and which belongs to the world community (not corporations).

4. Decentralized uncensored internet which runs on blockchain based augmented reality cloud and open internet of things network.

5. Open global governance layer which is supported by the blockchain community and trustless consensus algorithms. Strategic decisions are always made in favor of personal success, global prosperity and sustainability.

6. Sustainable decentralized energy internet powered by blockchain

7. Autonomous electric vehicles moving economic activity across the world

It is a crucial point in history where the people are finally given a chance to design their own currency that reflects commonly shared values of prosperity, health and happiness.
It is our responsibility to ride this wave of transformation and take control over our destiny!

All images are Creative Commons