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Sunday, Oct 24, 2021
Outlook.com

The Future Of Money

Imagine an information exchange into which all requirements for all imaginable goods and services are stored and available to all those who care to access it.

The Future Of Money
illustration by Jayachandran
The Future Of Money
outlookindia.com
-0001-11-30T00:00:00+05:53
The world which we live in is a boring world of sequence. We study, then get a job; work and then get paid; pay taxes and then spend; spend and then save; save and then acquire assets. Think about it—the speed of this sequence is at the root of all costs, wastages and inefficiencies. If we enhanced its speed and also found out ways to parallel processing, what will happen to our abilities to earn and spend and save? What if we decide to ride technology and put this sequence on a fast track or better still, break this sequence and indulge in simultaneous processing of an infinite set of information?

Imagine an information exchange into which all requirements for all imaginable goods and services are stored and available to all those who care to access it. Imagine an encrypted electronic card that identifies you with your fingerprint—dna if you care—and automatically credits you when you earn and debits you when you spend. Imagine a world of totally anonymous dealings in money for you, no one knowing what you earn and spend. Imagine a world without currency notes. Imagine...

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