1.
Mike Hearn <mike@plan99.net>The Future of Money

2.
What about now?

3.
• Ongoing financial crises
What about now?

4.
• Ongoing financial crises
• Coming up: pensions crisis
What about now?

5.
• Ongoing financial crises
• Coming up: pensions crisis
• Also: sovereign independence
crisis (FATCA)
What about now?

6.
• Ongoing financial crises
• Coming up: pensions crisis
• Also: sovereign independence
crisis (FATCA)
What about now?

7.
• Ongoing financial crises
• Coming up: pensions crisis
• Also: sovereign independence
crisis (FATCA)
• Not going to talk about these
today - too depressing!
What about now?

8.
About Bitcoin

9.
About Bitcoin
• Solution to all those problems!

10.
About Bitcoin
• Solution to all those problems!
• Does not require banks

11.
About Bitcoin
• Solution to all those problems!
• Does not require banks
• Controlled inflation

12.
About Bitcoin
• Solution to all those problems!
• Does not require banks
• Controlled inflation
• No political interference

13.
About Bitcoin
• Solution to all those problems!
• Does not require banks
• Controlled inflation
• No political interference
• Enables new innovations

14.
This talk imagines a world 50 years from now
how it’s impacted by the combination of
financial cryptography
advanced robotics
and lots of other new technologies

15.
My name is Mike and I love the future

16.
Jen wants to join her friends in the city
She finds the ride via the TradeNet
The future of taxis

17.
The TradeNet is a P2P network
Users post demands and traders supply bids
The future of taxis

18.
TradeNet

19.
• Standardised broadcast and advertisement mechanism
TradeNet

20.
• Standardised broadcast and advertisement mechanism
• No direct user interface - specialised apps use it as infrastructure
TradeNet

21.
• Standardised broadcast and advertisement mechanism
• No direct user interface - specialised apps use it as infrastructure
• Users software examines bids and selects the best based on
TradeNet

22.
• Standardised broadcast and advertisement mechanism
• No direct user interface - specialised apps use it as infrastructure
• Users software examines bids and selects the best based on
• Previous experiences and prices paid
TradeNet

23.
• Standardised broadcast and advertisement mechanism
• No direct user interface - specialised apps use it as infrastructure
• Users software examines bids and selects the best based on
• Previous experiences and prices paid
• Anonymized, cryptographically provable ratings and history
TradeNet

24.
• Standardised broadcast and advertisement mechanism
• No direct user interface - specialised apps use it as infrastructure
• Users software examines bids and selects the best based on
• Previous experiences and prices paid
• Anonymized, cryptographically provable ratings and history
• Machine learning models that blend many other factors together
TradeNet

25.
• Standardised broadcast and advertisement mechanism
• No direct user interface - specialised apps use it as infrastructure
• Users software examines bids and selects the best based on
• Previous experiences and prices paid
• Anonymized, cryptographically provable ratings and history
• Machine learning models that blend many other factors together
• Intended for fast, lightweight commerce for commodity goods and services
TradeNet

26.
Vehicles use the TradeNet to find customers ....
... but also to bid for road space.
The future of taxis

27.
Who owns this vehicle?
Who profits from this trip?
The future of taxis

28.
What owns this vehicle?
What profits from this trip?
The future of taxis

29.
Autonomous agents

30.
• Can be pure software or have a hardware
component (e.g. self driving car)
Autonomous agents

31.
• Can be pure software or have a hardware
component (e.g. self driving car)
• Agents take part in the TradeNet too
Autonomous agents

32.
• Can be pure software or have a hardware
component (e.g. self driving car)
• Agents take part in the TradeNet too
• Agents maintain a Bitcoin wallet and use it to pay
for their own costs.
Autonomous agents

33.
• Can be pure software or have a hardware
component (e.g. self driving car)
• Agents take part in the TradeNet too
• Agents maintain a Bitcoin wallet and use it to pay
for their own costs.
• Agents can make a profit. Excess profit is used to
spawn children, who then compete against the
parents.
Autonomous agents

34.
• Can be pure software or have a hardware
component (e.g. self driving car)
• Agents take part in the TradeNet too
• Agents maintain a Bitcoin wallet and use it to pay
for their own costs.
• Agents can make a profit. Excess profit is used to
spawn children, who then compete against the
parents.
• Agents die if they run out of money and may be
deleted, salvaged or go into hibernation
Autonomous agents

35.
Autonomous agents

36.
• Their numbers reach equilibrium through market
competition
Autonomous agents

37.
• Their numbers reach equilibrium through market
competition
• They can evolve by hiring humans to write
upgrades for them
Autonomous agents

38.
• Their numbers reach equilibrium through market
competition
• They can evolve by hiring humans to write
upgrades for them
• They are allowed to outcompete humans
Autonomous agents

39.
• Their numbers reach equilibrium through market
competition
• They can evolve by hiring humans to write
upgrades for them
• They are allowed to outcompete humans
• Their services are cheap because they don’t have
many costs
Autonomous agents

40.
• Their numbers reach equilibrium through market
competition
• They can evolve by hiring humans to write
upgrades for them
• They are allowed to outcompete humans
• Their services are cheap because they don’t have
many costs
• This is the justification for their existence
Autonomous agents

41.
Object delivery via the
MatterNet
www.matternet.us

42.
MatterNet

43.
MatterNet
• Quadrocopter based delivery of objects over short distances.

44.
MatterNet
• Quadrocopter based delivery of objects over short distances.
• Copters are also agents. They pay humans to repair and recharge them.

45.
MatterNet
• Quadrocopter based delivery of objects over short distances.
• Copters are also agents. They pay humans to repair and recharge them.
• They can deliver not only objects but also ..... more agents!

46.
Who creates these machines?
• Once created nobody profits directly
• Indirect profit is huge
• First agents developed via assurance contract

47.
Assurance contracts
• People make pledges. Pledgers only pay if the contract target is reached.
• A method of funding public goods
• Current financial system is cumbersome and limited
• In future, lightweight assurance contracts will be
common
• Can be used to replace a lot of taxation

48.
What about the jobs!?
• In the long run all non-creative jobs are doomed
• But even poor people will be wealthy by todays standards
• Better education (Khan Academy) is the key!