Compass mackerel
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Compass mackerel

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A quick philosophical tour through what money is, what it means, how it works, and what it implies. How the past may indicate changes in the future. The surprising history of how humans have ...

A quick philosophical tour through what money is, what it means, how it works, and what it implies. How the past may indicate changes in the future. The surprising history of how humans have attempted to manage and symbolise value.

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Compass mackerel Compass mackerel Presentation Transcript

  • The Meaning of Mackerel Daniel Marovitz ceo- buzzumi Twitter- @marovdan
  • What IS money?
  • All of them…
  • Flavors of CashPractically there are two types of money: Commodity money- Gold, rice, salt, cod, barley, shells Fiat money- Money that has value by decree- not because of intrinsic worth
  • What is it really?• Money is information – It records value – It stores value – It transfers value
  • Money is abstract and symbolic It can have limitless meaning, limitless value, limitless power to compel action. There are few symbols that are as extensible
  • Money is beliefIf we have learned one thing in the financial crisis about money: trust confidence emotionMatter.SIGNIFICANTLY
  • Emotion
  • How are humans different from other animals?
  • The distinguishing point… Macaque monkeys barter grooming for sexual attention Bees have a complex dance-based language Wolves hunt with forethought, coordination, and military- style hierarchy Chimps and Sea gulls use tools
  • The development of money
  • Essentially Human Humans store the ability to live, die, buy, dream, travel, and experience in slips of meaningless paper…. And increasingly in completely dematerialized digital01010101010101101010101011001010101 010101010101001010101010101010101
  • Wisdom of the Ancients The need to symbolize value and store the memory of credit is very old. Standardized barley facilitated trading in Mesopotamia in 3000BC On the Greek island of Aegina- silver coins were minted in 700 BC.
  • Federal Prison Federal prisons of the USA US dollars- are banned In 2004 the US prison system banned cigarettes. Cigarettes had been the currency of the prison system for generations
  • NO cash……NO Smokes…..HOW do you trade?
  • Mackerel
  • Pouches of dead fish
  • It works like this… Work You now have fishy Earn $ currency Its oily and But “money”stinky- don’t is only store eat it! credit Buy 1 mackerel at pouch=$1 the store
  • Commodity money is complex…Protein helps you build Help you FIGHTIf you want to fight, eat
  • Price of toothpaste in “Macks”2.5 21.5 1 Macks per tube30.5 0
  • What are the lessons? Trading is fundamentally human Creating symbols of value is ancient People use what they have- however odd Trust and heart matter as much as brain
  • Banks/Payments/eCommerce People will pay with mobiles- they are what they have An interconnected world makes the legacy infrastructure seem very legacy The rise of remote, individual, temp labor has big implications for money Traditional financial players must evolve……..or………
  • ….clients will find their own mackerel….