Working Our Way Towards A Post Monetary Society

in LeoFinance3 months ago

Things can happen very quickly. In the totality of time, a few decades is nothing. For most of humanity's existence, not much changed. Our "evolution" as a species, especially a social one, took thousands of years for each iteration.

It is only in the last few hundred years that things really started to be altered. Consider for a second the life of someone in the 1600s versus one 800 years earlier. Frankly, things were very similar.

Of course, life today is much different from the 1700s. In fact, it is radically changed as compared to the 1970s, at least for the developed countries. Much of our daily lives, today, is something that was considered science fiction just half a century ago.


Younger people have a more difficult time seeing how much things can change. A lot of this has to due with the fact that, pre-COVID, life we not much different than it was in the year 2000. Sure there were a few changes, including the adoption of mobile. However, for the most part, our work and home lives were very similar.

This is not the case if we look at the years from 1980 to 2000. Here is a time period we can see radical changes. Technological advancements such as the VCR, mobile phone, cable television, personal computer, Internet, World Wide Web, copy machine, and robotics altered how we lived and worked.

For this reason, it is best not to be stuck in the mindset that things are slow to change and what we know is going to remain the same. This applies to every area of life.

One area we see radically transforming is money. Cryptocurrency is seriously altering how we interact and the possibilities surrounding the transfer of value. What was once in the hands of a few is now open to just about anyone. Money creation no longer is a monopolistic entity.

It is take to take this thought process a step further.

We are seeing the demonetization of many industries. The shift to digital completely alters how things are produced, distributed and consumed. It is said the the Internet is the world's biggest copy machine. Whatever is on there can be duplicated an infinite amount of times.

Today, we are in the early stages of radical advancements in manufacturing and construction. A lot of this has to do with the progress the materials sciences are making. We are embarking upon a time when we will build things at the atomic level. While it is still decades away, it is helpful to start thinking about these things.


Cryptocurrency is simply a phase we will be going through. Just like much in the last 300 years, a lot of what was created ended up passing away when it no longer served the needs of people. Call if creative destruction if you want but the main point is that which is stagnant disappears.

There are some who are resisting the idea of doing away with cash. This is sensible since those people were reared in a world where "cash was king". It was the norm. That is what symbolized wealth. Having a lot of greenbacks was what separated the classes.

Now, we see, most in the developed world do not use case. The physical aspect of currency disappeared. Almost all transactions are conducted electronically in the digital realm.

In the 1970s, if you told people there would be a time when they did not need cash (physical) to conduct transactions, they would have thought you nuts. Naturally, most will think it nuts to read there will come a time, in a few decades, when money as a whole is not needed. Instead, we will evolve into a realm where we are post-monetary.

This transition will not come from new economic or financial discoveries. Instead, we will see the continued advancement of technology bring us to the point where money, as we know it, is no longer necessary. Much if what we require will be free, or near free. This is what demonetization does. When we are making things from the atomic level, why is one required to purchase things using a medium of exchange.


How close are we to this becoming a reality? We should look to the 2050s as the starting point where we will start to see this becoming more common. That sounds like a long time but just think, 1991 was not too long ago for those of us who were adults at that time. For all the advancement that it provided, it is vital to keep in mind that the World Wide Web was only invented in 1989.

In the world of technological advancement, 30 years is an eternity.

Cryptocurrency is ushering in an era of financial abundance. Whatever the Internet touches, it copies. Well, the Internet came to money and we are starting to see the results. This is going to help fund the innovations over the next couple decades. Many of the world's problems will be addressed because there will be the funding available to research solutions.

Money is nothing more than a tool for collaboration. It is what allows people to come together for a common purpose and interact. There will come a time, though, when the need for humans to interact, at least to the same degree, dwindles. At this point, we will see more of it done by computers and robots. These devices do not need money, only energy.

Ultimately, we will go through the phase where we transition to abundance of money to get to the point where we do not need money.

It is an interested concept to wrap our heads around yet it is just in keeping with the progress over the last 50 years. As we go deeper into the digital realm and start to cross into the virtual, everything is going to change.

At the top of the list will be our relationship and need for money.

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Ultimately, we will go through the phase where we transition to abundance of money to get to the point where we do not need money.

I do not seem to understand what you mean with the above statement. Do you mean that we are going to have a cashless monetary system or that all forms of money will go into the oblivion. I'll really like to know.

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Ultimately we will get the point where the entire monetary system is done away with. When you start to develop into manufacturing things out of atoms, then we are literally producing stuff from nothing.

A lot of it starts with energy. Consider what things would look like if we didnt have to pay for energy.

I just posted a list in the above comment of all the stuff which use to require money that is now "free". As technology expands, we are going to see this grow a great deal.

Over the next few decades, advancements will be made where that list is to the point where we can produce most things for a nominal fee (or completely free).

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Thanks for the clarifications, although this sounds like an El Dorado to me because I am sure that as long as capitalism remains money might evolve but it is very unlikely to go away. People will still need a kind of motivation to provide services or manual goods. Just my thoughts. Cheers!

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in the future the meaning of the word money will probably disappear, replaced by the word cryptocurrency which today frightens many but which tomorrow will be in all books

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That will happen, in some countries sooner, in others later, but it's going to happen.

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yes, I fully agree with you :)

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And beyond that crypto will be replaced with the lack of need. For example you use to need a separate device to play audio and video tapes. Now, you can do that on your phone.

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or maybe we will have a device installed on our head that will send sound pulses to us and play both audio and video in our head.

I expect everything from the future

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I love the optimism as I too believe the long term future (say 2100) is gonna be amazing but I think the next few decades will be quite dark. Why? How are people alive today going to earn a living?

My guess: in a decade time crypto will be used for everything. Blockchain technology will be an internal part of ourselves.
Crypto wallet will com inbuilt in our phones or the chips we would have in our brains or palms. It's not futuristic, it is present. These ideas are not far fetched.

Currently, there is a trust problem in the world. People dont trust their government or any form of authority. This creates an opportunity for a trustless society. What better technology to user us into that era other than blockchain technology.

Currently, I live off crypto. I couldn't have imagined this but I am. It is my reality. A year ago just a few people in my sphere knew about crypto, now every young person does. It only a matter of time before they start using it. I was lured into crypto via the prospect of monetizing my content. What might lure other young people might be a game or an app? It's only a matter of time--sooner than most of us think.

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Crypto is certainly picking up, especially in some select regions of the world. The worse the present system is there, the greater the attraction to crypto.

This will keep spreading across the globe.

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I love the sound of "free"and this is because we're already heralding the future with and I guess we might not even believe the capabilities of things that can be realisable in the future. Physical Money is a redundancy and it will surely be eliminated. Things like the technology on hive is showing already how the future will be like.

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People do not realize all the different things that are free today which cost money decades ago.

-digital photos versus film
-newspapers (information)
-Stock trades
-long distance phone calls
-classified ads
-bookkeeping software
-music (CDs, records)
-video recording
-audio players

These are all items that now require no money to utilize or enjoy them.

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Long distance phone calls was even more expensive, nowadays you can just zoom or WhatsApp call and they'll even appear on video it's exciting to think the future isn't even fully functional on the technological advancements we've been unlocking

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it's exciting to think the future isn't even fully functional on the technological advancements we've been unlocking

We are just at the beginning of what we are going to see. There are so many technologies changing things up that we will be amazed in 10-15 years at how we are doing things. Zoom is just the tip of the iceberg but we already see the impacts on society and how business is being conducted.

What impact will 3D printing, VR, atomic construction, lab grown foods, etc... have? We are going to see a lot especially with the advancements in energy. Very inexpensive and virtually unlimited energy will radically change things.

I think we will see this within the next 20 years.

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Within 20 years it looks rather near more than far into the future. It's exciting, rather exciting times by all means.

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Actually it is a trend that no one can stop, I remember the famous Sony walkman that when they were told to reinvent it they refused because that was impossible to update and then the ipod came and it was over, with the money if we are seeing a big revolution that this little girl at this moment we don't really know how much she can grow but only time will tell but if you can already see the route that will come, and obviously this will go until her disappearance and the cash will only be a numismatic resource,
But well, we are still here, hopefully we can take advantage of these innovations to have a better quality of life and not remain in poverty as in previous revolutions.

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Indeed money might not be the ultimate instrument of buying, selling or exchanging but we need anyone somehow to measure the wealth. Now if that is just a Byte or something else like a scarce resource, we still need a reference system. Or maybe we don't...?

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Or maybe we don't...?

It will be interesting. I cannot answer if we do or do not. If we do, what will be the medium?

That is an interesting topic of ponder.

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So far, it is completely impossible to believe in this, just as BP and Artificial Intelligence did not believe in the early 90s. But everything changes ... With each new day I am convinced that EVERYTHING is possible in the world. It would be great if in the future there was a reality you described, and not one of the billions of other possible realities, about which we may not imagine anything at all.

Пока что в это совершенно не вериться, как и не верилось ВР в начале 90-х годов. Но все меняется… С каждым новым днем я убеждаюсь в том, что в мире ВСЕ возможно. Было бы отлично, если бы в будущем была описанная Вами реальность, а не одна из миллиардов иных возможных реальностей, о которых мы можем совсем ничего не представлять.

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There are some who are resisting the idea of doing away with cash.

This is true but those may not have a choice and will have to adapt to the new reality. There are always a few who think differently and are against everything that is new. This is normal I guess.

Much of our daily lives, today, is something that was considered science fiction just half a century ago.

If you look back or just watch old movies like Bond, it's amazing where we are not compared t what they had back then.
“Change is the only constant in life.”

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These devices do not need money, only energy.

how much I liked that! To see robots need money to buy ... energy. Because energy isn't free either, is it?

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