“Money’s not really a means of exchange. At heart, money’s a permission slip.”
In the Future, There’s No Money
The future of money is like three guys building a fence. You can call them Joe, Jack, and Jim. Joe wants a new fence. Jack has a bunch of building materials that his wife wants him to get out of the garage, and Jim will lend Joe the tools to complete the job. Together, they have everything they need to build a fence.
This is the future of money. There’s no money. Projects are put together through coordination and cooperation. The “currency” in this system is willingness. Each party is willing to contribute their particular resources to the project.
The Old System
The old system, the one that’s beginning to break down, can be represented by Joe’s brother-in-law, Henry. Henry’s standing in the yard listening to the men plan the fence and steps into the middle of it. Henry declares that Joe’s getting something for nothing, Jim’s being used, and Jack’s a sucker. Henry declares that the value of the tools, labor, and resources are unequal and unfair under their arrangement. Henry states that the inequity of the enterprise proves that the men can’t trust each other and that they need him to step in and make the situation equitable (for a fee, of course).
In the old system, the assumption is that Joe, Jack, and Jim aren’t capable of deciding what they want to do and how they want to do it. To compensate for their “naivete,” life is reduced to a ledger sheet where the middleman declares the value of free will and takes a cut of the action. This system is the in beginning throes of its own death.
Cryptocurrency is the Transition
Money’s more than a symbol of the exchange of energy. In its essence, money’s a permission slip. We use it as the “thing” that allows us to engage in an activity. But that “thing” is a symbol. It’s not the power. The power is the permission. The power is whether you allow yourself to take the action. You don’t need a symbol to allow yourself to take an action.
Thus, you don’t need the symbol of money to get the function of money because you don’t need a symbol to exercise permission. You can just exercise permission. No one has to exchange money for Joe, Jack, and Jim to build the fence. They can build the fence because they have the items required to build the fence. They have the materials, tools, labor, and willingness. Nothing more is needed.
When you’re talking about global economics, to make this money-less system function, you have to have coordinating and cooperating tools in place. This is where blockchain technology comes in. It has the potential to create tremendous efficiency to enable people to move goods and services without waste. Evolution means moving toward more efficient structures, and that’s exactly what’s happening.
Between the point at which these technologies are built out and now, we’re going to go through a phase. That phase is cryptocurrency. It’s where we let slowly release our dependence on the symbol of money and acclimate to a less tangible, more expansive concept of human coordination and construction. Eventually, there will be no money because it will be unnecessary. We’ll have moved past the need for the symbol. It will be a process, however.
We’re entering an entirely new era of human history. It will require an enormous amount of flexibility to adapt to these changes. But dogs, both old and young, can learn new tricks. Everyone’s capable of making the adjustments in perspective that are necessary to function in this new era. An open mind and an open heart can help that process along. It’s your best asset.