BEYOND BITCOIN. The Future of Digital Currency. Part I

Let’s take a look through that portal into the future and see what the world might look like with digital currencies.

In the past, the people who physically had the money owned it. But in the future, the people who know the money will own it.

Charities will rise to take the place of government social programs and safety nets, and will do a much better job. The power and influence of governments will wane. The capacity of a government to maintain standing armies and fight wars will also cease to exist.

You will be able to make financial decisions, including owning stocks and bonds, without anyone knowing you own them.

You will be able to gamble, buy prescription drugs — without a prescription — take a taxi that is not a taxi, stay in secret hotels, or see a doctor who is not a doctor.

Government regulations will become unenforceable.

Federal Reserve Notes and other government-based currencies will go bust. Their value will slowly drain until they are worthless pieces of paper. In the end, they will be overrun by counterfeits as the cost of counterfeiting goes down and the cost of policing goes up.

The new digital currencies will be privately administered and much more efficient.

We will see more economic equality among people as the rich and poor who once milked the system no longer have a system to milk.

All people will work harder. All people will make better decisions. All people will economize and become more efficient.

The end result is that a new economy will emerge, along with a new class of citizens who will be powerful and able to control the governments so that those who wish to stay in power will not try to infringe on the money rights of others.

Constitutional rights will be restored.

Women who wish to stay home with their children will be able to afford to do so again, as they will no longer be required to work to prop up the military and state apparatus. There will be less marital strife and fewer divorces, and more equality between the sexes.

There will be a move from the cities to the country as people will no longer need the services that cities once provided. They will not need cubicles, banks, or retail stores, and they will not need to be in close proximity to others.

Everything administrative will be done digitally, online, and people will want to get away from the crowds, traffic, stress, prices, pollution, and crime.

The prosperous will move from the cities and the poor will flock to them because the cities will become like today’s Detroit: inexpensive to live in. This will cause the cities to become even more undesirable and dangerous places to live until the cities become nothing but large squatter communities.

When the value of the dollar collapses, manufacturing will return to the cities of America because minimum wage laws will no longer be relevant, and the unused space, along with a labor force that’s ready to work, will bring manufacturing to a local level. Incomes around the globe will begin to equalize.

In the future, insurance companies will make a huge comebackbut they will all be virtual and unauthorized by governments. Instead of having one medical insurance company to choose from, you will have thousands. They will provide real insurance as opposed to trying (unsuccessfully) to manage a government program like today’s insurance companies are forced to do.

The cost of healthcare will plummet as people become insured for real problems. The ill and injured will have access to doctors, medicines and treatments from all over the world — all virtually over the Internet, and all paid for with digital money.

A new theory of money will be taught in the economics departments to supplant the teaching of Keynes, Marx and Socialism. Instead, economists will turn to information systems theory.

Economics will no longer be a subjective behavioural science; it will be a hard science — and the importance of unfettered money will be very clear.

Homeschooling will become the norm as school districts force the kids into their homes to save money, and place the responsibility of education directly on the shoulders of the parents. This will result in children who are better educated. Colleges and universities, faced with the demand to reduce budgets, will cut gender studies, environmental studies and ethnic studies instead of cutting computer science, biology and nursing. The campuses will become much more conservative.

In the future, the number of people working as government regulators will drop off because they will be paid with worthless Federal Reserve dollars instead of a digital money that maintains its value.

Terrorists, unfortunately, will be able to send money anywhere in the world. The only way to stop them will be to physically isolate them.

Child porn and many other crimes will persist, but the overall welfare of children and people in general will increase as the new monetary systems bring about a new prosperity. Instead of going after the money, law enforcement will go after the criminals who use the money. There will be significantly more resources to stop them, thanks to the charities that are now able to fund private detectives, private courts, and private punishments.

In the future, digital currencies will improve everything and make nothing worse.

As a species, we will become more intelligent and less violent, with greater harmony among the races.

As individuals, we will become happier and more satisfied with life. We will have much less tolerance for tyranny and a greater sense of community.

To be continued……….

Sean H. Worthington PhD ABD for CloudCoin Consortium.

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