Dave Birch discusses the future of money across four functions: unit of account, means of exchange, store of value, and mechanism for deferred payment. He argues that technological changes are putting pressure on cash as a means of exchange. The mobile phone is poised to become the dominant global means of exchange, replacing notes and coins. Birch predicts non-fiat currencies will be transacted via mobile phones in the next decade, benefiting the poor through lower transaction costs. He advocates reducing cash by regulating prepaid cards and mobile payment services, and increasing competition, to bring more people into the financial system.
Digital Cash and Monetary Freedom - Libertarian Alliance (Economic Notes 63)Jon Matonis
Much has been published recently about the awesome promises of electronic commerce and trade on the Internet if only a reliable, secure mechanism for value exchange could be developed. This paper describes the differences between mere encrypted credit card schemes
and true digital cash, which presents a revolutionary opportunity to transform payments. The nine key elements
of an electronic, digital cash are outlined and a tenth element is proposed which would embody digital cash with a non- political unit of value.
This document discusses the evolution of payments, including the history of payment methods from bartering to modern digital wallets. It notes that while checks are declining, debit and credit cards are growing significantly for electronic payments. Mobile wallets are emerging but adoption has been slower than expected due to lack of clear benefits over traditional payment methods. The payments ecosystem will continue to evolve driven by consumers, merchants, financial institutions, and payment networks seeking security, accessibility, low costs, and convenience.
The document discusses the future of money and how it will likely become increasingly digital. It examines money's historical path toward more abstract and virtual forms of payment like bills, checks, and credit cards. New technologies and the rise of the knowledge economy will likely accelerate this trend in the years to come. However, important questions remain about how quickly digital money will dominate, and what the implications will be for issues like social inequality, economic stability, and central bank control of the money supply. The conference discussed these topics and how governments and businesses can help manage the transition to digital forms of money.
The document discusses how the recession has impacted consumer spending habits and how consumers will pay for goods going forward. It notes that consumers are deleveraging and taking on less debt due to job losses and stagnant wages. While credit card usage fueled spending for decades, consumers will now likely shift to debit cards and alternative payment methods. This change creates opportunities for new payment companies and technologies to fill the gap left by reduced credit availability and help consumers continue to purchase goods and services.
This document discusses trends shaping the global economy and real estate markets in leading cities. It makes three key points:
1) Cities that have led innovation through the digital revolution, like those hosting tech and creative industries, have generally performed best economically despite volatility. These "Super Cities" have attracted talent and companies through amenities and flexibility.
2) Forces of "creative destruction" are disrupting traditional industries and shifting economic activity to new innovation hubs. Real estate in major cities offers flexibility to adapt.
3) While political forces challenge globalization, cities will remain important economic centers by attracting talent if they can spread prosperity through inclusion and adaptability to changing markets. Competition from emerging market cities also poses a
This document discusses key trends shaping the global economy and real estate markets. Three main points:
1) The era of low/negative interest rates and technological innovation has increased demand for safe haven assets like real estate in global cities.
2) Fast growing global cities are centers of innovation but housing and commercial real estate supply is not keeping up with demand, putting pressure on costs.
3) Cities that attract talented, educated workers will thrive as the modern economy values people over physical assets. Real estate seeking to build environments for these workers will succeed.
Digital Cash and Monetary Freedom - Libertarian Alliance (Economic Notes 63)Jon Matonis
Much has been published recently about the awesome promises of electronic commerce and trade on the Internet if only a reliable, secure mechanism for value exchange could be developed. This paper describes the differences between mere encrypted credit card schemes
and true digital cash, which presents a revolutionary opportunity to transform payments. The nine key elements
of an electronic, digital cash are outlined and a tenth element is proposed which would embody digital cash with a non- political unit of value.
This document discusses the evolution of payments, including the history of payment methods from bartering to modern digital wallets. It notes that while checks are declining, debit and credit cards are growing significantly for electronic payments. Mobile wallets are emerging but adoption has been slower than expected due to lack of clear benefits over traditional payment methods. The payments ecosystem will continue to evolve driven by consumers, merchants, financial institutions, and payment networks seeking security, accessibility, low costs, and convenience.
The document discusses the future of money and how it will likely become increasingly digital. It examines money's historical path toward more abstract and virtual forms of payment like bills, checks, and credit cards. New technologies and the rise of the knowledge economy will likely accelerate this trend in the years to come. However, important questions remain about how quickly digital money will dominate, and what the implications will be for issues like social inequality, economic stability, and central bank control of the money supply. The conference discussed these topics and how governments and businesses can help manage the transition to digital forms of money.
The document discusses how the recession has impacted consumer spending habits and how consumers will pay for goods going forward. It notes that consumers are deleveraging and taking on less debt due to job losses and stagnant wages. While credit card usage fueled spending for decades, consumers will now likely shift to debit cards and alternative payment methods. This change creates opportunities for new payment companies and technologies to fill the gap left by reduced credit availability and help consumers continue to purchase goods and services.
This document discusses trends shaping the global economy and real estate markets in leading cities. It makes three key points:
1) Cities that have led innovation through the digital revolution, like those hosting tech and creative industries, have generally performed best economically despite volatility. These "Super Cities" have attracted talent and companies through amenities and flexibility.
2) Forces of "creative destruction" are disrupting traditional industries and shifting economic activity to new innovation hubs. Real estate in major cities offers flexibility to adapt.
3) While political forces challenge globalization, cities will remain important economic centers by attracting talent if they can spread prosperity through inclusion and adaptability to changing markets. Competition from emerging market cities also poses a
This document discusses key trends shaping the global economy and real estate markets. Three main points:
1) The era of low/negative interest rates and technological innovation has increased demand for safe haven assets like real estate in global cities.
2) Fast growing global cities are centers of innovation but housing and commercial real estate supply is not keeping up with demand, putting pressure on costs.
3) Cities that attract talented, educated workers will thrive as the modern economy values people over physical assets. Real estate seeking to build environments for these workers will succeed.
The document provides an overview of emerging technologies that are transforming the future of money and banking. It discusses how digital currencies like Bitcoin have become decentralized due to new technologies. Peer-to-peer economies are expanding as people connect and trade various currencies like time, attention and resources over the internet. New platforms also allow trading of social currencies where reputation and influence are quantified. Online-only banks are utilizing APIs and automation to provide improved customer experiences. Overall, technologies are shifting power away from traditional financial institutions and enabling more decentralized and individual control over money and finances.
This briefing on the future of money is the first in a series of explorations on the future of global systems; including industries, sectors and economies.
Best fintech and other inspiration events from Life.SREDA VC '4Q2014Vladislav Solodkiy
This document provides information on various technology and finance conferences happening between September and November 2014. It lists the name, location, dates and short description of events like Finovate Fall in New York, WIRED by Design in California, FinDEVr and TedGlobal in San Francisco, Innovation by Design in New York, WIRED and TechCrunch Disrupt EU in London, Web Summit in Dublin, and Money2020 in Las Vegas. Many of the events will have speakers from major tech companies and focus on topics like financial technology, design, and innovations shaping the future.
Mobile money services are growing rapidly in developing areas where over 1 billion people have mobile phones but no bank accounts. GSMA research estimates that mobile financial services could reach 364 million previously unbanked customers by 2012. For services to succeed, partnerships between telecom companies and banks are important to leverage their respective expertise in technology and financial services. Case studies from countries like the Philippines demonstrate the potential of mobile money to facilitate international remittances and provide access to financial tools for low-income groups.
SAS - A Unified Front- Making the Case for Integrating Fraud and Anti-Money L...Vivastream
This white paper discusses the growing threats of financial crime like fraud and money laundering due to increasing sophistication of criminals and new payment technologies. It notes that losses from fraud have cost companies billions and that criminals are exploiting new electronic channels like mobile payments which are expected to grow rapidly. The paper argues that traditional approaches to combating financial crime are insufficient for these new threats and that integrated fraud and anti-money laundering systems with advanced analytics are needed.
Future of privacy - Insights from Discussions Building on an Initial Perspect...Future Agenda
The initial perspective on the Future of Privacy kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
SplashMaps Kickstarter Story and Launch of Make-a-Map; maps centred where you like and at 1:25 000 scale. Slides presented at the Crowd funding conference 2013 at the University of Chichester.
Java programs run on the Java Virtual Machine (JVM). The JVM provides a runtime environment that executes Java bytecode. Key aspects of Java include its use of object-oriented programming, garbage collection, and strong typing. Popular integrated development environments for Java include Eclipse and IntelliJ IDEA.
The document discusses how tablets like the iPad are revolutionizing professional sports by allowing teams to access materials from anywhere, sharing information more easily for collaboration, and providing up-to-date data on opponents. It also outlines how tablets provide increased flexibility, mobility, and opportunities for real-time response compared to traditional computers. Examples are given of how the Tampa Bay Buccaneers now use iPads to access game plans and materials rather than hauling around paper binders.
Hayden Dawson presented on his experience banding hummingbirds in Paradise, Arizona in September 2009. He discussed how hummingbirds were trapped carefully using nets, then banded and recorded before being released. The presentation featured many photographs of the different hummingbird species encountered, including black-chinned hummingbirds, blue-throated hummingbirds, and broad-tailed hummingbirds. Special thanks were given to those who taught Hayden about birds and assisted with the project.
1) The document discusses how HR processes and organizations must evolve to embrace new Web 2.0 technologies that employees are increasingly using both personally and professionally.
2) It argues that HR leaders have an important role to play in defining guidelines, processes, and systems to help their organizations successfully adopt Web 2.0 tools and practices.
3) The document outlines how many HR processes, such as recruitment, training, communication and evaluation, can be improved through the use of Web 2.0 technologies like social networks, blogs and wikis.
20151123 a future resilient – tracking the trendsdbyhundred
Plenary Presentation to the Association for Geographic Information annual conference 2015. A future resilient covered the trends in cloud, data and execution and proposes that location tech was the first to experience all of these.
Prezentacja przedstawiona podczas konferencji HR Camp w lutym 2010. Przedstawia trendy w rozwoju korporacyjnych stron kariery i strategie ich budowy dla tworzenia atrakcyjnej marki pracodawcy - employer branding.
SplashMaps designs navigation maps for outdoor activities like cycling and hiking. They focus on practical maps for real-world outdoor use. Their team includes engineers, marketers, and open source contributors. They design tailored maps for both extreme and casual outdoor enthusiasts. SplashMaps maps integrate data from sources like OpenStreetMap and Ordnance Survey and are printed on durable materials. They are building a community around their brand by gaining support from backers in the mapping industry and positive reviews from users who appreciate the maps' utility and durability for outdoor activities. Going forward, SplashMaps aims to expand internationally and increase personalization through guest cartography opportunities and convergence of maps and data.
Acacia Research and Learning Forum - Tutorial 1, 8 October 2009
Strengthening Theory and Methodology for ICT4D Research
Facilitator: Camilo Villa
Dakar, Senegal
The document outlines a plan for a student music video project. It will feature an indie/rock band and have a quirky, rock n' roll style to match the mood of the song. The goal is to appeal to current fans and draw in new audiences. Technologies like cameras, lights, and editing software will be used. A schedule is outlined, but transportation between members' homes and equipment issues pose potential problems. Financial costs, health and safety concerns are also addressed.
This document discusses three topics related to project management: 1) an overview of how project management interacts with related practices like strategic planning, 2) using work breakdown structures to communicate processes and commitments, and 3) lessons learned from over 25 years of project management experience around communication, understanding stakeholders, and navigating organizational ecosystems. It provides tips for project managers around obtaining commitments, understanding different perspectives, prioritizing requirements, and making risks visible to stakeholders.
The document provides an overview of emerging technologies that are transforming the future of money and banking. It discusses how digital currencies like Bitcoin have become decentralized due to new technologies. Peer-to-peer economies are expanding as people connect and trade various currencies like time, attention and resources over the internet. New platforms also allow trading of social currencies where reputation and influence are quantified. Online-only banks are utilizing APIs and automation to provide improved customer experiences. Overall, technologies are shifting power away from traditional financial institutions and enabling more decentralized and individual control over money and finances.
This briefing on the future of money is the first in a series of explorations on the future of global systems; including industries, sectors and economies.
Best fintech and other inspiration events from Life.SREDA VC '4Q2014Vladislav Solodkiy
This document provides information on various technology and finance conferences happening between September and November 2014. It lists the name, location, dates and short description of events like Finovate Fall in New York, WIRED by Design in California, FinDEVr and TedGlobal in San Francisco, Innovation by Design in New York, WIRED and TechCrunch Disrupt EU in London, Web Summit in Dublin, and Money2020 in Las Vegas. Many of the events will have speakers from major tech companies and focus on topics like financial technology, design, and innovations shaping the future.
Mobile money services are growing rapidly in developing areas where over 1 billion people have mobile phones but no bank accounts. GSMA research estimates that mobile financial services could reach 364 million previously unbanked customers by 2012. For services to succeed, partnerships between telecom companies and banks are important to leverage their respective expertise in technology and financial services. Case studies from countries like the Philippines demonstrate the potential of mobile money to facilitate international remittances and provide access to financial tools for low-income groups.
SAS - A Unified Front- Making the Case for Integrating Fraud and Anti-Money L...Vivastream
This white paper discusses the growing threats of financial crime like fraud and money laundering due to increasing sophistication of criminals and new payment technologies. It notes that losses from fraud have cost companies billions and that criminals are exploiting new electronic channels like mobile payments which are expected to grow rapidly. The paper argues that traditional approaches to combating financial crime are insufficient for these new threats and that integrated fraud and anti-money laundering systems with advanced analytics are needed.
Future of privacy - Insights from Discussions Building on an Initial Perspect...Future Agenda
The initial perspective on the Future of Privacy kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
SplashMaps Kickstarter Story and Launch of Make-a-Map; maps centred where you like and at 1:25 000 scale. Slides presented at the Crowd funding conference 2013 at the University of Chichester.
Java programs run on the Java Virtual Machine (JVM). The JVM provides a runtime environment that executes Java bytecode. Key aspects of Java include its use of object-oriented programming, garbage collection, and strong typing. Popular integrated development environments for Java include Eclipse and IntelliJ IDEA.
The document discusses how tablets like the iPad are revolutionizing professional sports by allowing teams to access materials from anywhere, sharing information more easily for collaboration, and providing up-to-date data on opponents. It also outlines how tablets provide increased flexibility, mobility, and opportunities for real-time response compared to traditional computers. Examples are given of how the Tampa Bay Buccaneers now use iPads to access game plans and materials rather than hauling around paper binders.
Hayden Dawson presented on his experience banding hummingbirds in Paradise, Arizona in September 2009. He discussed how hummingbirds were trapped carefully using nets, then banded and recorded before being released. The presentation featured many photographs of the different hummingbird species encountered, including black-chinned hummingbirds, blue-throated hummingbirds, and broad-tailed hummingbirds. Special thanks were given to those who taught Hayden about birds and assisted with the project.
1) The document discusses how HR processes and organizations must evolve to embrace new Web 2.0 technologies that employees are increasingly using both personally and professionally.
2) It argues that HR leaders have an important role to play in defining guidelines, processes, and systems to help their organizations successfully adopt Web 2.0 tools and practices.
3) The document outlines how many HR processes, such as recruitment, training, communication and evaluation, can be improved through the use of Web 2.0 technologies like social networks, blogs and wikis.
20151123 a future resilient – tracking the trendsdbyhundred
Plenary Presentation to the Association for Geographic Information annual conference 2015. A future resilient covered the trends in cloud, data and execution and proposes that location tech was the first to experience all of these.
Prezentacja przedstawiona podczas konferencji HR Camp w lutym 2010. Przedstawia trendy w rozwoju korporacyjnych stron kariery i strategie ich budowy dla tworzenia atrakcyjnej marki pracodawcy - employer branding.
SplashMaps designs navigation maps for outdoor activities like cycling and hiking. They focus on practical maps for real-world outdoor use. Their team includes engineers, marketers, and open source contributors. They design tailored maps for both extreme and casual outdoor enthusiasts. SplashMaps maps integrate data from sources like OpenStreetMap and Ordnance Survey and are printed on durable materials. They are building a community around their brand by gaining support from backers in the mapping industry and positive reviews from users who appreciate the maps' utility and durability for outdoor activities. Going forward, SplashMaps aims to expand internationally and increase personalization through guest cartography opportunities and convergence of maps and data.
Acacia Research and Learning Forum - Tutorial 1, 8 October 2009
Strengthening Theory and Methodology for ICT4D Research
Facilitator: Camilo Villa
Dakar, Senegal
The document outlines a plan for a student music video project. It will feature an indie/rock band and have a quirky, rock n' roll style to match the mood of the song. The goal is to appeal to current fans and draw in new audiences. Technologies like cameras, lights, and editing software will be used. A schedule is outlined, but transportation between members' homes and equipment issues pose potential problems. Financial costs, health and safety concerns are also addressed.
This document discusses three topics related to project management: 1) an overview of how project management interacts with related practices like strategic planning, 2) using work breakdown structures to communicate processes and commitments, and 3) lessons learned from over 25 years of project management experience around communication, understanding stakeholders, and navigating organizational ecosystems. It provides tips for project managers around obtaining commitments, understanding different perspectives, prioritizing requirements, and making risks visible to stakeholders.
The document discusses choosing a font for a music magazine focused on modern rock and indie music. It considers several fonts that could fit the genre by looking edgy or like a band logo. It mentions exploring different colors as well to see which pair best with the selected font. The document concludes it will try out the various fonts being considered for the magazine splash page to see which looks best.
Presentation given at Future Learning Landscape Workshop held at EC-TEL 2009. Presents some elements about the convergence of pervasive learning and Personal Learning Environments
Silicon Valley Code Camp: 2011 Introduction to MongoDBManish Pandit
This document provides an introduction and overview of MongoDB, a document-oriented NoSQL database. It discusses how MongoDB differs from relational databases, its support for schemaless documents and easy querying. Key concepts covered include collections, documents, inserting and querying data, and replication and scaling architectures like master-slave and replica sets. The document also touches on accessing MongoDB programmatically, object-document mappers, internal architecture details, administration, and comparisons to other NoSQL solutions.
WHEN WILL DIGITAL CURRENCIES REPLACE TRADITIONAL MONEY? EXPLORING THE FUTURE OF GLOBAL FINANCE.
The advent of the digital age has revolutionized various aspects of our lives, from the way we communicate and consume media, to how we shop and even conduct our financial transactions. One prominent product of this digital revolution is the emergence of digital currencies, a new form of money that exists solely in the digital space. With the creation of Bitcoin in 2009, the concept of decentralized, digital money not controlled by a central authority entered mainstream awareness, and since then, the interest in and use of digital currencies has grown exponentially. This brings us to the central question this article aims to answer: when will digital currencies replace traditional money?
A tide of technology — cryptocurrencies, P2P economies, payment APIs — is reshaping the world before our very eyes. We rarely memorize, wait in line, rewind, unfold, print or phone anymore. There has never been a better time to map the phenomenon of human innovation, and there is no better place to start with than with money.
FFCON19: Stablecoins, will Central Banks Manage the Disruption of Decentrali...Craig Asano
April 4-Day 2 of the 2019 Fintech & Financing Conference in Toronto at the Bram and Bluma Appel Salon in downtown Toronto. Alan Wunsche, CEO, Tokenfunder talks about the potential for Stablecoins like the DAI, a hot trend in digital assets and crypto markets, to disrupt the central banks. As technology advances and companies jockey for position, there's one thing for sure, there's never a dull moment in the world of decentralized finance.
Links
https://www.tokenfunder.com/
https://fintechandfunding.com/
https://ncfacanada.org/
5 Ways Digital Currency is Revolutionizing the Financial World.docxSurendra Gusain
Digital currency is a term that is familiar to some people and unfamiliar to others. But if you aren’t aware of it, you must get familiar with it because it has the potential to change our view on money. The recent rise in Ethereum (ETH), Bitcoin (BTC), and various other cryptocurrencies that exist in digital format only, has led global national banks to research the working of these national digital currencies. So, in today’s blog, we will shed light on the topic “5 Ways Digital Currency is Revolutionizing the Financial World” So, without wasting further time let’s get started!!
This document discusses how digitization of money and financial innovations have helped global economic growth but current systems could not provide warnings of risks. It argues that advanced analytics applied to financial data can now provide insights to create a safer, more transparent system. Examples given include risk reduction in foreign exchange and microfinance enabling loans for the poor. A centralized risk utility is proposed to help prevent future crises through early warning signals.
Electronic and digital currencies like bitcoin provide a new way to transfer money globally with very low fees. While they currently lack regulations, cryptocurrencies allow migrant workers to send money home more cheaply than traditional money transfer services. The decentralized nature of cryptocurrency networks also enables peer-to-peer transactions without centralized control. However, cryptocurrencies are still in their early stages and face challenges around their status as legal tender and how they should be classified for tax and regulatory purposes.
Virtual currency would play a role in disrupting the conventional transaction models and have a potential impact on various sectors. Know more about the trends and the multiple challenges faced by businesses in adopting the virtual currency. Download the Business Research report by Aranca.
Virtual currency has been a debated concept within the technology community in the past few years, as transactions through this medium do not require any third party’s involvement. Know more details from Aranca's Business Research Experts here.
Virtual currency would play a role in disrupting the conventional transaction models and have a potential impact on various sectors. Know more about the trends and the multiple challenges faced by businesses in adopting the virtual currency. Download the Business Research report by Aranca.
Afridex 2019 is a large convention being held in Cape Town, South Africa from September 24-29 that aims to educate people on topics related to blockchain technology, cryptocurrency, financial systems, and innovations in a fun and engaging way in order to increase understanding and adoption of these concepts, especially in Africa which has been an early adapter of cryptocurrency for payments rather than investment. The event will feature keynote speakers from blockchain organizations and over 7,500 attendees, and sponsors have various partnership options to get involved.
The U.S. dollar has been the dominant global reserve currency since World War 2, but its influence is waning as China's economy and the yuan rise. Cryptocurrencies like Terra could potentially displace both and become the new global reserve. Terra has grown rapidly by creating stablecoins pegged to major currencies and building applications for spending (Chai), saving at high yields (Anchor), and investing in real-world assets (Mirror) on its blockchain. If Terra continues improving how people spend, save and invest worldwide, its stablecoins may threaten the U.S. dollar's dominance as a reserve currency in the coming decades or centuries.
This is an updated view on future of currency. Building on the new initial perspective authored by Patrick Teng, CEO of Six Capital, it includes insights from events in Asia and will be added to in Europe as we explore how currency is changing over the next decade.
LEOcoin is a new cryptocurrency that aims to be anonymous, secure, and user-friendly. It has several key advantages over other cryptocurrencies like Bitcoin, including true anonymity through advanced encryption, resistance to ASIC mining monopolization, and a hybrid proof-of-work and proof-of-stake system to reduce risks of attacks. LEOcoin transactions are very low cost, can be done globally very quickly, and require no specialized knowledge to use. The founders believe LEOcoin has the potential to become a leading global digital currency for entrepreneurs and individuals.
Classifying a cryptocurrency security or currency or asset Blockchain Council
Cryptocurrencies are a global phenomenon known to almost everyone. Today, it would be extremely difficult to find any major bank, a renowned accounting firm, a popular software company, or a government that has not researched or published a paper on cryptocurrencies or blockchain. But beyond this popularity, there are many consultants, scientists, and developers who have limited knowledge about cryptocurrencies.
Download the full report now: http://bit.ly/1QD3aDm
Imagine a future where you don’t have to think about money. Got it? Well you’re probably thinking about it the wrong way. Because today, right now, money isn’t real.
That bill you can hold in your hand is simply a representation of a transaction about to take place, completely dependent upon our belief that it has a value. We believe wholeheartedly that a piece of paper can be exchanged for a cup of coffee or a microwave oven. But, when we strip away our dependence on this concept of “money”, and the physicality of its exchange, what remains in the pure transaction. A transaction of value.
This report unpacks how our very concept of money is evolving, and describes how the system designed to manage its movement is ripe for disruption. This shift will create immediate opportunities for brands to connect with consumers as not only participants, but partners in modern culture.
Our report examines:
• The concept of value beyond traditional financial notions
• How value hinges upon trust, and the way trust is driving disruption
• Tech startups and small group communities working together to challenge the way we’re paying for our lives
• Peer to peer exchanges, dying middlemen and algorithmic security
• New asset classes and a working vision of the Internet of Things
49 pp., 23 illustrations
Our report points to the near future, where every person, place, and thing has a measurable value that can be exchanged intangibly, rapidly, securely, and most importantly, directly. It’s a system where abstract notions like social currency have a value that can be transacted in the same way that we now buy a cup of coffee. It’s a system that can empower a planet where every single device, every head of lettuce, every drop of fuel, every road and cable that make up our infrastructure have a value not only in and of itself, but also in the context of its use.
Meet your new value system, or the future of money. UnMoney.
Methodology
For this report, sparks & honey conducted research and interviewed experts at DevCon1 in London (2015) and the Scaling Bitcoin Workshop in Hong Kong (2015). Using new social listening tools, we gauged public sentiment around the disruption of established currencies and financial systems. And tapping into our global scout network and proprietary cultural intelligence system, we combed through thousands of signals to build a vision of the future of value in an unmonied world.
Cryptocurrency and Defi : Bridging the gap for financial inclusion.TebogoMichaelManakan
Summary:
Cryptocurrency and DeFi are transformative technologies that aim to bridge the gap for financial inclusion. Cryptocurrencies are digital currencies that operate on decentralized blockchain networks, offering fast, secure, and low-cost peer-to-peer transactions without the need for intermediaries. DeFi, built on blockchain, replicates traditional financial services without relying on banks, providing global accessibility, lower barriers, financial empowerment, reduced costs, privacy, security, and financial innovation. Despite challenges, these technologies have the potential to revolutionize finance, empowering individuals with financial autonomy and access to a borderless financial system, ultimately fostering a more inclusive and equitable financial landscape.
CryptoGold official presentation - How does cryptogold mining work (english)? crypto gold english. cryptogold english cryptogold presentation cryptogold english webinar cryptogold english presentation kryptogold english kryptogold english webinar crypto gold english cryptogold official. More info at https://youtu.be/dSUB5y4ssL0
Summary of the 52 insights for the world in 2020 to come out of the Future Agenda programme. Covers certain developments as well as probable events across health, wealth, happiness, security, mobility and locality
Future Agenda 20 Insights For 2020 FinalFuture Agenda
The document discusses insights about the world in 2020 from a cross-disciplinary programme called The Future Agenda. The programme brings together global experts to address challenges facing the next decade. It outlines 20 insights on topics like global connectivity, Asian economic influence, dense urbanization, access to information, food supply and demand, pandemics, transportation, luxury markets, digital identity, money, waste, water scarcity, knowledge economies, telehealth, and urban poverty. The document encourages readers to get involved by joining parallel global discussions on the insights and challenges outlined.
Dr. Jack Lord discusses three major global health challenges:
1. Pandemics are likely to occur between 2-3 times by 2020 due to inadequate public health infrastructure in developing nations. This raises issues around redistributing wealth from rich to poor countries.
2. Populations are aging, with more people over 65 than ever before. This is straining healthcare systems and budgets without changing approaches. Issues around social policies, healthcare workforce, and spending levels need addressing.
3. Healthcare's role in the economy is overlooked. Balancing new technologies, prevention, information technology, and workforce challenges against education and infrastructure investments is complex. Reform is needed to shift from sick care to healthcare and prioritize prevention over
The document discusses four challenges related to identity in a globalized world: 1) the challenge of single identities persisting despite changes, 2) the complexity of multiple identities, 3) unexpected new identities from younger generations, and 4) virtual identities created through technology. It argues that managing diversity and finding shared values while respecting differences will be important issues over the next decade as identities, nations, and communities continue to become more diverse and interconnected.
This document discusses the challenges of migration that impact many people globally. It focuses on three major challenges: 1) Most poor people are unable to migrate internationally and do not benefit, 2) Less visible forms of migration like internal or temporary migration often provide lower benefits but greater costs, 3) Migration to new regional centers creates challenges for infrastructure and policy. Addressing these challenges requires more discussion on facilitating beneficial migration for poor people, reducing costs of remittances, and developing new models for integration in emerging destinations. Overall, more research and informed public debate is needed to understand migration's impacts and identify appropriate policy responses.
Mark Philips discusses the future of transport. He sees opportunities for more efficient vehicles in the next decade, many of which may be smaller than today's cars. Luxury brands may migrate to smaller platforms. Advancing fuel and power technologies will allow luxury cars to still offer the same travel experience but in a more environmentally friendly way. Traffic control systems like congestion charging will likely increase with an aging population and the need to manage traffic in crowded cities. Smart mobility through vehicle tracking and intelligent highways may converge to deliver the first phase of a global smart transport system in the next decade.
The document discusses the global challenge of water scarcity. It notes that while the Earth is mostly water, only 3% is freshwater and availability is decreasing as consumption increases. By 2025, demand is expected to exceed supply by over 50% and many regions will face water stress. Solutions are needed to manage both direct and indirect water usage through trade and dietary changes. Sanitation is also a key issue that requires sustainable water supply solutions, especially in developing areas.
Global waste production is predicted to double over the next 20 years due to increased urbanization and greater waste generation per capita in emerging economies. Developing practical and sustainable solutions to move towards a zero waste society will require simultaneous development of appropriate infrastructure, services, and approaches to facilitate behavior change. It will also require mass production of low-cost sustainable technologies and global cooperation on waste management standards. Taking significant steps by 2020, such as integrated waste management, sustainable technologies, and policies to prevent waste, could help mitigate the growing waste challenge.
Chris Meyer, CEO of Monitor Networks, discusses the future of work which is influenced by four unstoppable trends: geographic and economic dislocation due to globalization and offshoring putting pressure on wages in rich countries; automation reducing jobs in manufacturing, services likely to be displaced next; longer life spans and careers requiring life-long learning as skills become obsolete faster; and collaboration technologies leading to more porous organizational boundaries and collective work. These trends suggest the need to rethink management, how and what we work on. The context of work will be radically different from the past.
The demand, supply and composition of food over the next decade faces major challenges from demographics, obesity, hunger, globalization, sustainability, and consumer choice. There are three main certainties: demographic changes as the population grows, environmental constraints as resources diminish, and technological advances in areas like biotechnology. To address these challenges, we need increased global investment in agriculture technology research to boost food production efficiency through another "green revolution." Regulations and public-private partnerships will also be needed to develop solutions and direct resources appropriately. How these challenges are navigated globally will significantly impact world economics, politics, and societies over the coming years.
The document discusses the future of global energy and outlines some key uncertainties and challenges. It notes that demand for energy will double over the century while production of oil and gas cannot keep pace. This will make the era of cheap energy come to an end. Alternative energy sources like renewables will need to ramp up significantly to close the gap between supply and demand. Major investments and cooperation will be required globally to transition the energy system in a sustainable way and reduce greenhouse gas emissions to avoid climate change impacts.
The document discusses the future of data and access to information. It notes that while the internet has enabled more access to information, less than a quarter of people globally have internet access. It argues that making data access fast, cheap, and ubiquitous worldwide would be an important challenge. The document also discusses how emerging technologies may improve access, such as mobile phones and cloud computing, but connectivity issues still exist in some areas. Overall it frames increased access to data and information as empowering and beneficial.
The document discusses the future of global currencies and the potential rise of the Asian Currency Unit (ACU) as a third global reserve currency alongside the US Dollar and Euro. It argues that while an Asian Monetary Union is unlikely by 2020, the introduction of a parallel ACU currency based on a basket of Asian currencies could provide balance to economic influence and trade. Over the next decade, greater coordination will be needed between major economies on financial regulation through organizations like the G20 and FSB. The successful implementation of an ACU could impact Asia through increased financial integration and give the region more influence in the global economy.
The document discusses the future of connectivity and its implications. It predicts that by 2020, 50 billion devices will be connected globally through ubiquitous wireless connectivity. This will enable new services but also pose challenges around security, privacy, and managing personal identity online. Connectivity will also play a key role in addressing issues like sustainability and labor scarcity by enabling technologies like machine-to-machine communication and teleworking. However, the impact will depend on factors like how fast networks can expand to rural areas. The future may see a hybrid model where both independent network providers and brands delivering online services directly to consumers co-exist.
Professor Richard Burdett discusses the challenges facing cities due to globalization, immigration, jobs, social exclusion, and sustainability. While cities have an ability to innovate, there are disconnects between urban change and policy that must be addressed. Policymakers need to create frameworks for sustainable urban development and adapt cities to diverse populations, changing work environments, and increased connectivity through technology. Ultimately, cities must address these challenges through environmentally sustainable solutions to problems like housing, transportation, energy use, and climate change.
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Diane Coyle discusses the challenges of authenticity in the digital age. New technologies have made it easy to create multiple online identities and copies of digital content. This has increased the value of authenticity while also enabling the spread of inauthentic information. Maintaining authentic identities and verifying information online will require credible digital identities, intellectual property protections, and widespread access to communications. Technology can both restrict and enable authentic experiences, so balancing these issues will be important going forward.
Future Agenda Initial Perspectives Full TextFuture Agenda
The full text of all 16 initial expert perspectives used to kick off the future agenda programme. Covering the future of authenticity, choice, cities, currency, data, energy, food, health, identity, migration, money, transport, waster, water and work, these provide a great perspective which we invite you to build on via the futureagenda.org website
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The Future Agenda programme aims to unite global experts to address the greatest challenges of the next decade through collaborative discussion and innovation. It covers 16 key topics including authenticity, choice, connectivity, cities, currency, data, energy, food, health, identity, migration, money, transport, waste, water, and work. The programme is bringing together a wide audience with global expertise to gain a clearer vision of the future challenges we all face by 2020 and address them in a dynamic manner. Participants are free to use and reference the material on the programme's website.
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Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
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1. Dave Birch
Founder, Digital Money Forum and Director, Consult Hyperion
Future of Money
72
2. The Global Challenge
Money has four basic functions, each of which can be implemented in a different way and so each of which From my
are available for different types of change. To me it is reasonable to consider these four functions and look at perspective, as
a technologist, it
the global challenges to each of them individually and from there ask about the future. is the means of
exchange that is
Money as a unit of account is a hot topic as the US stores of value and how will choice impact fiscal most immediately
subject to the
dollar is being questioned as the denomination of the policies? Will we have transactions between non-
pressure of rapid
world’s reserve currency. Robert Zoellick, President of monetary stores of value? In some African countries, technological
the World Bank, recently said that the US must “brace people already trade their means of exchange (the local change,
itself” for the USD to be replaced in that role and, for currency) for a better store of value - mobile phone particularly since
we are at one of
other reasons, the UN Conference on Trade and minutes. Why not open savings accounts in gold, or oil, those inflexion
Development has also called for the USD to be or food? There are many reasons for thinking, as points that come
replaced with a new ‘global currency’ and not only as a Edward de Bono once suggested, that an ‘IBM Dollar’ along from time
to time.
unit of account. The question is with what? Should we be a better store of value than a USD.
adopt the Special Drawing Right that is used by the IMF
Money as a mechanism for deferred payment is seen
or, if stability is a driver, should we not go back to gold
as a prerequisite for society to function. It must support
as the price of oil in gold is much more stable than the
contracts between parties that include provision for
price of oil in dollars.
future payment. So will people and organisations
Money as an acceptable means of exchange is already choose different payment mechanisms? Are there
undergoing change. Money is useless as a medium enough reserve currencies to make choice a reality?
unless it is acceptable to both parties in a transaction. Will we collapse back to bullion, or grain? If I agree to
In many countries cash is falling as a proportion of pay you $1 million in a decade, can you continue to use
transactions. In a decade will cash still be there? Why? conventional assumptions to value that offer?
Might we eliminate money through ‘turbo barter’? Is
From my perspective, as a technologist, it is the means
cash replacement realistic and under what
of exchange that is most immediately subject to the
circumstances? Why now? Which technologies have
pressure of rapid technological change, particularly
come together to make this a point in time when the
since we are at one of those inflexion points that come
possibility of a change from cash to an alternative
along from time to time. The mobile phone is about to
means of exchange is not only credible but also
become the most important means of exchange on a
increasingly probable?
global basis and the first technology with the potential
Money as a store of value is also open to question. to replace notes and coins as the means of exchange
How will people in the future have access to good for the ‘average’ person.
Future of Money 73
3. What do you think? Add your views to the global perspective on www.futureagenda.org
Options and Possibilities
Is digital gold the Over the next decade, the technology timeline is one of the most predictable components of the Future
future? Will the Agenda for money. As William Gibson commented in 1999, “the future is already here, it’s just unevenly
Islamic market
be a driver for
distributed.” All of the technologies that will make a difference to any organisation’s business model in 2020
electronic gold? already exist. The right way to get ahead of the curve is not to try and imagine amazing new technologies from
scratch but to simply look at how technologies are moving from the lab into the world and consider their
impact in a reasonable structured way.
New technologies that will be moving into the standard may be impractical or even undesirable, the
mainstream of money, payments and banking over the idea of a new technology monetising the store of value
next ten years include; connection technologies such as that is gold is a different proposition. For the ordinary
speech recognition, near field communication, 4G person to be able to decide to hold Euros, gold or
mobile networks and powered tags; disconnection mobile phone minutes simply by choosing a different
technologies such as smart cards, voice authentication, menu on their phone does provide practical choice.
face recognition and identity cards; and processing However, given free choice, would people opt for
technologies such as the semantic web, contextual dollars over precious metal?
computing, autonomous agents, printed batteries and
Perhaps people would prefer to use more regional,
virtual worlds. Of these, I see that it will be the
local or even personal currencies. The next generation
disconnection technologies that will shape the emerging
of money may be more about so called ‘alternative
value network. Therefore small improvements in these
currency’ rather than a return to the money of the past.
technologies will have a major impact on money.
Local currencies have been attracting a lot of attention
Unlike the technological view, the social and economic and there is history in this space ranging from Local
pressures on money are much harder to determine. If Exchange Trading Systems, frequently derided as
the average person in the street thinks that their ‘babysitting tokens’, to Time Banks and so on. In
government is printing money round the clock so that it London another such currency has just been launched
will inevitably lose value, then they would naturally want - the BrixtonPound. If regional, local or personal
to hold gold or some other asset they think might hold currencies are to disrupt the financial system they need
its value against inflation. This does not mean using real to include an alternative means of saving and lending,
gold as a means of exchange but as a store of value. I not merely spending. A combination of P2P (peer-to-
could envisage, for example, having a gold account. I peer) currency and P2P lending could very well deliver
would still draw cash out of the ATM - but only enough the key elements of new kind of money. One factor
to support transactions. Gold would be the store of nudging me towards this is the demonstrable collapse
value and, as a consequence reduce the demand for in the trust of traditional banks: Many members of the
currency as a store of value. Is digital gold the future? public, whether through financial calculation or outrage,
Will the Islamic market be a driver for electronic gold? are now prepared to give alternatives a try. In the UK,
A non-interest bearing 100% gold-backed electronic one such alternative of note is Zopa, the peer to peer
currency would be attractive to many in times of lending exchange.
economic uncertainty. While the return to the gold
74 Future of Money
4. Proposed Way Forward
If we are to choose a path forward, let us make it a shared goal to make a substantial reduction in the amount The strategic
of cash in circulation: Willem Buiter (Professor of European Political Economy at the London School of impact of mobile
phones in the
Economics and Political Science and former chief economist of the EBRD) is not the first economist to think payment space is
about getting rid of cash. But he may be one of the first to think about getting rid of cash in a technological yet to come.
era that actually makes it entirely feasible. It wasn’t feasible when Hayek was thinking about it in 1970s, or
when European banks were thinking about in the 1990s, but it is entirely feasible in the 2010s. Why? Well,
there are some key technological developments that make Willem’s vision more than science fiction: in fact,
some might say, make it more likely than not. These developments mean that we can overcome the main
barriers to cashlessness - POS (Point of Sale) density and anonymity - in ways that can deliver more
functionality than Willem might expect.
To make something “cash like” then you have to be able The second objection is that losing the anonymity of
to use it pretty much everywhere (you need a high POS cash would change the relationship between citizen and
density) and you need to be able to make small state (and bank) in an undesirable way. I used to think
transactions in private, without being tracked, traced that this was true, but now I’m not so sure. Thinking
and monitored. There are two ways in which the about anonymity again, my experience back in the old
technological developments of the last two decades days was that, for different reasons, neither the
have addressed these key objections and have put us consumers, nor the banks, nor the retailers, nor anyone
in a position to be able to take Willem’s ideas and else actually valued anonymity at all. So, if you put it in
implement them. a tick-box, some people will tick it, but that’s because
they haven’t really thought about it. Once they had
The first is the mobile phone. We are already seeing
thought about it, their interest in anonymity plummeted.
the launch of mobile phones that can replace payment
cards (there are 40 million of them in Japan already)
and provide prepaid “e-money” accounts (M-PESA in
Kenya, provided by mobile operators Vodafone and
Safaricom, has over six million users already). But the
strategic impact of mobile phones in the payment space
is yet to come. Yes, mobile phones can be payment
cards and that’s great. But mobile phones can also be
payment terminals. Or to put it another way, you can
use a chip and PIN card to pay, but you can use a
mobile phone to both pay and get paid. Since I live in a
country where, essentially, everyone has a mobile
phone this means that it is absolutely feasible to
eliminate cash altogether. In this coming world, if I want
to pay you a pound, I will do it by text message or
mobile Internet and you will know immediately that you
have the cash.
Future of Money 75
5. What do you think? Add your views to the global perspective on www.futureagenda.org
Impacts and Implications
My central So, my central prediction for the decade is that the mobile phone will be used to transact non-fiat currencies.
prediction for the Not much of a prediction perhaps because it is already happening. But the impact will be truly transformational
decade is that
the mobile phone
and will, I would argue, primarily benefit the poor.
will be used to
transact non-fiat If the central problem is the cost of transactions for or fraud) would surely outweigh any marginal
currencies.
poor people, and the central solution is to use mobile convenience offered to drug dealers. And if an
phones to make transactions (including non-fiat international terrorist were to go round Post Offices
currency transactions) then the key compromise is buying a pre-paid card in each one and then sending
straightforward to set out: We must encourage €100,000 worth of cards to their uncle up the Khyber
easy-entry competition for low-value, inter-personal Pass, not only would it engender significant effort but
transactions and allow not only mobile operators but it would also cost them a lot more than sending €500
other newcomers to deliver a service. notes (which the Royal Mail might well lose anyway).
Why not take the €500 note as an example? Any More realistic limits for the Know Your Customer (KYC)
prepaid instrument with a maximum daily transfer of and Anti Money Laundering (AML) protocols and
€500 should be regarded as cash and regulated increasing competition in the provision of mobile
globally much as the FSA regulates Electronic Money payment services would bring (literally) hundreds of
Issuers (ELMIs) in the U.K. - but with higher limits on millions of people into the financial system. This would
both balances and annual transfers. In Europe, there deliver a significant net welfare increase and make a
will be an additional chapter in the Payment Services huge difference to the daily lives of some of the
Directive (PSD) to create a framework for electronic poorest people.
money institutions (alongside the frameworks for credit
So, if we are to try and choose a path forward, let us
institutions and payment institutions). So perhaps this
make it a shared goal to make a substantial reduction
could form the basis of reciprocal international
in the amount of cash in circulation by adopting
agreement. In other words, anyone should be able to
regulatory compromise to open up the space for
buy a pre-paid card with €500 loaded on to it and then
solutions and encouraging new thinking, particularly
do what they like with it; use it on eBay or in Marks &
around mobile phones, to deliver those solutions. In
Spencer; send it to a grandson at University or back to
fact, we might make the goal the substantial
the old country as a remittance.
eradication of cash, as previously suggested.
Think about it - the immediate benefit to the poor (who Controversial? Perhaps, but possible, plausible and
lose some 20% of their annual remittances to charges potentially probable!
76 Future of Money
6. If we are to try
and choose a
path forward,
let us make it a
shared goal to
make a substantial
reduction in the
amount of cash
in circulation
77