To put it plainly, the future of money is no money.
Recap of the Previous Posts
Here are some points to recap what you may have missed from the previous series. It was a lot of information to take in! Links to each series is at the bottom of this post.
- The most relevant forms of fluid money today are Dash and Steem.
- Money has always been a tool; today it is better termed as a "technology".
- The biggest misconceptions of money are that it is 1) actually scarce--the truth is that it is abundant by its privileged design, and 2) the root of all evil--this saying is a distraction from humanity's true root of all "evil" (problems).
- The only things on earth that are actually scarce, rather than artificially scarce by design, are: 1) the individual's time and attention, and 2) the individual's ability to fulfill their societal contracts.
- We now live in a world where information is abundant, compared with a past of information value due to scarcity.
- The root of humanity's problems is destroying their nourishment, such as with fire (i.e. cooked food). This lead to losing the delicate and fundamental sense that we live in abundance on an abundant planet. Without this sense, humanity is literally under a spell--an illusion of scarcity.
- This tool / technology (money) really does not solve any problem of humanity; however, it exposes and suppresses humanity's core issues while enabling us to share our attention and pay debts/favors to those that we cannot fulfill our commitment(s).
- These new, decentralized currencies cannot exist without a connected society. One way of achieving a "connected" society, artificially, is with technological means such as the Internet.
- Likewise, money (itself) is the bottle neck (problem) to human evolution.
- Steem is the first form of money that is truly scarce, not artificially scarce.
Present and Future of Distributed Technologies (as a token)
For distributed technologies, here's our present money and future money ("token system") in a nut shell. First are the systems (and tokens) that can only come from a society where "Information is in Abundance" (our society -- the Internet Civilization), and these systems are marked with A.
- A: Artificially scarce and privileged tokens (Bitcoin, Dash, etc.)
- A: Truly scarce and (accessibly) privileged tokens (Steem, SDB, etc.)
Next are systems (including their tokens) formed in a society that is aware of the abundance planet with abundance resources (Abundance Consciousness). These systems (marked with B) will thrive in this sort of society:
- B: Agreement-based debts (attentions and/or intentions). (Ethereum, Factom, etc.)
- B: One Agreement debt. (No technology necessary.)
The last system of "One Agreement" is a result of less and less contracts being necessary over time. Humanity will realize that they do not need so many agreements, and it will become common intuition, sort of like what happens with other species once an action (or piece of knowledge) hits the "tipping point". See the 100th Monkey video below, which is a prime observation and experiment for understanding humanity's shared, intuitive knowledge and behaviors.
For full transparency, Rupert Sheldrake gets all sciency and expands on the 100th Monkey Effect to offer a better explanation:
Eventually each relationship agreement will be condensed into 1 single need: the need to have a lack of abundance filled. This is the One Agreement. For example, Jill says to Marc, "Hey Marc, I need water." Marc is shocked by this, due to his abundance of water, and he replies, "Really? How could that be that you need water? Here, take it, please!"
In fact, that One Agreement "debt" does not even need to be recorded or enforced, which brings us to the end--the absolute future of money.
The Future of Money is...
The future of money is no money. When all of humanity realizes that they are in complete abundance, token systems of exchange (money) becomes unnecessary and are simplified as society collectively sees fit. The only people who will resist this change are those who are overly fearful and are stuck in the illusion of scarcity. These people will still evolve over time, even if it is their children that ultimately break the cycle.
When all of humanity realizes that there is no need for systematized and automatically enforced agreements due to humanity's abundance, clearer and direct attention, and intentions, then quantized units of exchange (money) once again becomes unnecessary and simplified as society sees fit. Finally, the truth of all of this abundance sets humanity free, and humanity realizes their single agreement with each other: everything is abundant due to our cooperation. Fellow steemer, @teamsteem, understood this (at least subconsciously) and expressed it in his article Cooperation Is Humanity's Greatest Asset!
"And forgive us out trespasses, as we forgive those who trespass against us."
This is where anyone who is in need is "given of their debts" as they, too, give to those who are in need to fulfill their debts. Here's another way to read this: "For: give us our debts, as we give to those who are in debt." This future can be today if you can live it, and mostly, today, it requires technologies such as the internet, blockchain, smart contracts, and other decentralized and peaceful technologies to get us all to wake up and realize that we already have everything that we need. All of our desires are fulfilled simply by our own creative ability to manifest the reality in our heart. Literally. The future of money is no money.
The Future of Money is: No Money.
5 part series.
For the sake of our attention span, this was a 5 part series--each part referring to a different concept to help readers understand the future of money. Follow me for other updates! :)
Part 1: Fundamental Misconceptions of Money
Part 2: Money's Fundamental Problem (the Truth)
Part 3: Humanity's Evolution and Why Money is Involved
Part 4: About Bitcoin, Dash, Steem, and Ethereum
Now: Part 5 - The Future of Money is NOT CRYPTO CURRENCY