Archives For money

The REXpedition stops people on the street (Well, not really.  We find them on Skype), and asks, “What is going on here?”

Venessa Miemis is a futurist and digital ethnographer, researching the impacts of social technologies on society and culture and designing systems to facilitate innovation and the evolution of consciousness. She is currently pursuing a Masters in Media Studies at the New School in NYC.  Her recent work on the Future of Money has attracted attention from the Huffington Post and Fast Company.  The video is definitely worth seven minutes of your time.

Todd:  If I told you we are in the “Relationship Economy,” what does that mean to you?

Venessa:  I think we’re in a transition where we’re learning to renegotiate what “trust” means.  We’re not as interested in just arms-length transactions that keep us distanced from one another – we want to actually connect to other humans in a meaningful way and create value together.

Todd: How do you see openness playing out in this transition?

Venessa: I think it’s been an agreed upon paradigm for a long time that hoarding information and keeping it private is the proper framework for success.  Now, with accelerating change and increasing complexity, we’re seeing that this mentality leaves our infrastructures rigid and nonadaptive.  We are realizing that a degree of openness, sharing, and collaboration is necessary in order to solve problems and innovate.

Todd: What IS the future of money?

Venessa: Technology is a tool.  It is supposed to assist us in doing something more effectively and efficiently than could be done without it.  I see the web as a tool that gives us an advanced communication infrastructure and ability to make our wants, needs, and resources apparent.  This is only going to become more granular.  In time, we may realize that money in its current form is not the most effective means for allowing this information to flow.  We are going to quantify ourselves further (levels of trust, reputation, dependability, social connectedness), and new kinds of currencies will emerge that allow us to exchange value directly based on those metrics.

Todd: Thanks, Venessa!

Venessa Miemis and Gabriel Shalom recently interviewed a bunch of people concerned with what money is and where it might be going (including me). The result is a quick, useful, vibrant tour of how society sees wealth, value and the mechanisms for making those concepts useful in the world — today and on the horizon.

The Future of Money from KS12 on Vimeo.