The future of money

What happens when you purchase, sell, and pay for items in such a way that banks and currency exchange stations are unnecessary? This is the basic effort of the world promoted by cryptographic currencies such as Bitcoin and Ethereum. We are not going, but in this remarking speech, Digital Currency Researcher Neha Narula explains collective novels and depicts a completely different future.

The future of money will be in the hands of its users, people, and sovereign individuals, not in the hands of power. Indeed, money is a form of speech. This is mere information on the transfer of value from one party to another. Thanks to the Bitcoin protocol, we finally found a way to exchange value without permission or friction anytime, anywhere, using our most powerful communication channel, the Internet.

Money is a standard everyone can agree on - exchange of currency value and promise of future utility. The earliest currency form was short-lived, reflected in livestock, cereals, shells, and feathers. For thousands of years precious metals such as gold and silver became common. Today, we live in a debt-based society resulting from trust in third party institutions. Governments and central banks around the world have accumulated tremendous amounts of debt through seemingly unlimited credit access. We can claim that money is necessary for the grace of a third party organization and that authority is not the most responsible or reliable one.

Ethereum may be the last nail of the central bank's coffin. It can shape the future of money. Ethereum is the best platform ever, as various types of funds are implemented as smart contracts.

Every day we work hard to earn money, maintain daily life, and protect faraway future. Money is now visible, but money can have completely different meaning and value in the near future. So far, keep your distant future always done in the form of money - to keep for future use. But do we know the amount we need in the future? What is sufficient to support myself and the people we love? In the event of inflation and crisis our money will be exhausted. The current trend in the transition to automation reinforces this anxiety in our future: This can lead to increased unemployment and leaving money for those who lost work.