Need for a new currency based on abundancy

Thanks to my subscription to Fredzimmy’s blog, I found this wonderful blog from Esko Kilpi.

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I really recommend you to explore this site from A to Z.

  • Look at the wonderful slidedeck on Slideshare
  • Have a look at the Flickr photos
  • Have a look at the Bookmarks

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MIT Media Lab Human Dynamics Group, Howard Rheingold (one of the first ever “internet”-books i ever bought,…, Barbarian Blog.

Yummy, Yummy. This is great stuff for a Sunday afternoon. So inspiring. Delicious 😉

This way, i discovered the FANTASTIC Web 2.0 Expo speech of Douglas Rushkoff about Radical Abundance.

It is a 15 min video, and worth every minute:

Not sure if the video embed worked, so in any case you can find it here by clicking the below image.

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Some mind-blowing quotes (in 140 characters ;-):

  • The operating system for money is obsolete…
  • Abundance based currencies and monopoly based currencies…
  • Central Bank Monarch imprinted currencies are scarcity based currencies…
  • The money we use today was created so that rich people to stay rich by being rich (and lending) rather than doing anything…

 

google-coin

  • Our economy is based on the growth of interest
  • The people lending money get richer, the people creating value are getting poorer
  • But, what happens if you get something that’s abundant ? That you can’t make scarce.
  • The computers and networks change the “centrality” of value creation
  • You are now able to exchange value directly between one another rather than through a centralized currency
  • Optimize human beings to technology
  • Technology is more compatible with the values of efficiency than with all the other human values
  • Now you’re open and free to Google-Ads
  • Web³ will be won by the power of those who can index and aggregate. Is that what we want ?
  • Open Source and Crowdsourcing are not the same things
  • This notion of “free” leads to a society of copying, to no creativity, to no originality, to DJ’ing of culture
  • The abundance of genuinely creative output is declining
  • What we need is the development of a digital culture that respects the labor of individuals
  • What we need is the creation of new modes of currency based on abundance rather than scarcity.
  • I am talking about the original PayPal dream before banks asked them to be regulated like… banks
  • The next BIG thing are from people who will create genuine alternative electronic currencies and P2P exchange that do not involve cash.
  • I am talking about primitive local currencies such as Timebanks, Itex, Superfluid’s Quids
  • Cash has already lost its utility value, as it has been sucked out into investment capital, in the speculative marketplace
  • The only real competition against a Google universe (and their ideas of openness – see last weeks Google Blog post about openness btw) would be peer to peer exchange
  • We are not suffering from an abundance of creativity, just from an abundance of productivity, efficiency and openness.
  • If Web² leads to aggregation and indexers, then genuine P2P will lead to bottom-up value creation.
  • The next era is not about scaling-up anymore, it’s about figuring out how to exchange value, in stead of extracting value.
  • We are at a crossroads: right now we have the opportunity to optimize our systems, technologies, currencies to humans in stead of optimizing humans to them.

 

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3 thoughts on “Need for a new currency based on abundancy

  1. “You are now able to exchange value directly between one another rather than through a centralized currency”

    Jct: Better yet, hen the local currencies are pegged to the Time Standard of Money (how many dollars/hour volunteer labor), Hours earned locally can be intertraded with other timebanks globally! In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours. U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture.

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