What is the future of money? Does money have future?

AnnieBliss By AnnieBliss, 22nd Jul 2013 | Follow this author | RSS Feed | Short URL http://nut.bz/o78a_dwk/
Posted in Wikinut>News>World

What is the future of money, and currency? In the future will we still use money, or will money be useless? The financial world is changing so quickly that we can hardly keep up with it. What will money look like in twenty years time, and will it even exist

Money makes the world go around, or does it?

Money still makes the world go around today, but what is going to happen in the future.
Will money still be around, or will we simply have a credit system.

I have been thinking about this subject a lot lately, and after Detroit declared itself bankrupt, I really started to wonder. Does money have a future?
All of those people may have lost their pensions, and all the creditors to Detroit who are unlikely to ever be paid for their services or goods.

There are so many new system becoming available, and how are they going to affect us. I wish I had a crystal bowl which could see into the future. Many people feel so financially insecure in this day and age.

Bitcoin

Bitcoin is a new virtual currency which I am considering looking into. I buy a lot of stuff on the internet, and I wonder if I could use this currency to buy stuff with.
As with all things new I believe it has had its teething problems, but there are also some positive reports.
So many people make a living working on the internet today so perhaps we should have an official internet currency as well.
I read a report recently which predicted that in the future more and more people will have the internet as their designated work space.
In that case, surely it would make sense if we had a internet currency as well.

World currency


Will we ever have a world currency? As a species we travel more and more, and we also live in different places. We are much more transitional when we ever used to be .
Many people now have two homes, or the have a smaller functional home, and spend more times traveling.
If we had a global or world currency, surely this would benefit our new world culture.
We would not have to change money, all credit cards would be charged in one currency
and we would recognize the pricing system where ever we traveled.
I think if we were to go down this route, we would have to change a lot of other things as
well. Perhaps even a world government so we could pay our taxes to one entity.

The Euro seems to be an experiment which has gone badly wrong. The question is can we rise above and learn from our mistakes.

Points

Answer me honestly, how many club cards or point collection cards do you have in your wallet. Every shop I use has its own point system, and I can't even go to the hairdressers without showing my loyalty card. After a certain amounts of hair cuts I get a free hair cut. Isn't this really a payment system, a monetary system within a system.

When I fill my car up with fuel I get points. The points can be redeemed when they reach a certain level, and I get some "free" fuel. But surely somewhere along the way I paid for that fuel. I am amazed how a garage with cheapest fuel in the area can also give away points.

When I go down to the travel agent, and book a holiday I get air miles. When I have accumulated enough air miles I can exchange for a flight. Another financial product within the monetary system.

My supermarket sends through coupons every so often, and I can use these coupons to offset against my next grocery bill.
Are we doomed to be forever locked up into a club card, or loyalty card system, and is this the future.
Perhaps we could somehow "charge" our loyalty cards with credits and use the credits until they ran out, and then recharge our cards. Would that work?
After all money just seems to exist on balance sheets anyway, and even countries now have negative balance sheets. I don't even understand the amount of national debt out there.

Local currencies

Local currencies are springing up all over the place as well. Some small towns in the UK have their own currencies which are meant to help local businesses. You buy a certain amount of local currency, or vouchers, and you can exchange them for goods or services. Interesting, and I am all for shopping locally and spending my money in the local community. But should local currency be set against a certain exchange rate against the national currency, or an international currency? Interesting thought, but I would have thought it would be difficult to regulate.

Our world today seems to be much more "financially fragile", and I often wonder what will happen. In the last few years we have seen countries go bankrupt.
Would does the future hold for us, and our wallets? Will our wallets of the future just be filled with cards, or do we need to buy bigger wallets to make room for even more different types of currency. Who are we going to pay our taxes to?
Perhaps we will just have one card which does everything. One number to define our financial worth, and all our transactions ,debits and credits, will only exist in an account in cyberspace?

And I suppose when the aliens finally arrive all that will change again . . .

Tags

Financial Crisis, Financial Problems, Future Life, Future World, Money

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Comments

author avatar Retired
24th Jul 2013 (#)

Yes money is important because that is the thing that help us to survive life.But this days moneys are so tight to come in but it is just easy to all go out.

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author avatar AnnieBliss
28th Jul 2013 (#)

Income and outgoings do seem to be out of propertion.

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author avatar Trillionaire
28th Jul 2013 (#)

Thanks for sharing.

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