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I could have taken a weaker case - Will Augmented Reality make money obsolete? But instead I figure I'll take the strong position....
I could have taken a weaker case - Will Augmented Reality make money obsolete? But instead I figure I'll take the strong position.
If you want to jump to conclusions - I see these points:
1) Let us hold a richer view. It's clear that Augmented Reality is going to show us things that we haven't seen. It is hopefully going to let us hold a richer and more nuanced version of the world; one not quite as simple as we've embraced historically. Money has tended to reduce all things to a single number, and perhaps we can hold something richer than that.
2) Show alternative payment ecosystems. There are many ways for us to transact with people around us. There are many alternative currencies, many payment systems. These are all just waiting to emerge; they are suppressed in a sense - bubbling and waiting. Augmented Reality may make these visible.
3) Show what is valuable. There are also many things that are valuable that we don't see as valuable - up until now. A separate role of AR is that it may show value and values better.
4) Show other people us. We are also interested in transacting in different ways; but other people cannot see that. We too may accept things other than dollars but it is hard to signal to other people that this is the case.
These things constitute an attack on money. Seeing options, seeing value - these challenge what money is. It has always been the case that having to actually spend money on something is the last recourse. Usually one has equity in some way; actually having to spend dollars means you have no other equity. AR will show us the hidden resources around us, and will let other people see us better and what we want as well.
Why does it matter? Does it matter just to artists? Or philosophers? Or business-people? Yes. It will change the world, and we should change our expectations on what we want out of it. It means totally different approaches to making money for example. Don't try to make money - try to make money systems. Make your own currencies, make your own brokerages, make your own systems of exchange. Get your rewards in that way.