Future of Money

Ericsson has got a beautiful series of what the connected world means to us. (This is going to be BIG, bigger than anything else). This video shows the future of money and shows cases that already proof these changes. 

Big fundamental changes coming up with how we use money and capital. Connections once again on the base of the shifts:

  • Crowdfunding
  • Bitcoin (and other currencies)
  • Collaborative or sharing economy

See this 16 minute video about the impact;

  • Crowdfunding

Not only getting finance, but an extra layer of community building and support. All done without normal financial institutions. Getting your working capital from the end-users. perfect way of doing business. The incentive of being first, getting a reduction.

  • Bitcoin (and other currencies)

This is really the one to watch. Not that it must be Bitcoin to be the currency to go. But the major shift is a currency that is not in possession of a national bank. One that cannot be centrally controlled.

  • Collaborative economy

What we use to call sharing or even bartering is now part of the collaborative economy.

We can share a lot of assets to others and get a small return for doing so. This will have an impact on a lot industries, We have to much potential value that wasn’t being used before because barriers to share were to high. But that becomes lower and lower. And trust is gaining on the internet. The reputation economy is going to start these days (will blog about that).

These changes are going to have enormous impacts on all different levels of the economy, for example:

  • Less taxes collected
  • Less income needed
  • Shift in power from government to the community (or just a few)
  • Another business model for financial institutions

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