Fungible
A Bold, New Era Of Nano Money
Finance is not merely about making money. It’s about achieving our deep goals and protecting the fruits of our labor. It’s about stewardship and, therefore, about achieving the good society — Robert Shiller
Money has come a long way from shells and pebbles. Shells and pebbles could not be reduced to dust with the resulting dust having the same value as the original shell or pebble. Today, money can be broken down to dust and still remain “fungible”. Money moved from shells and pebbles to notes and coins. Then came the cloak of invisibility when money was reduced to digits and electronic information. Today, we live in an era of cryptographic currencies where money is the domain of mathematical algorithms. In the future, we could witness a boom in quantum computing which may further reduce money to signals. This article traces the factors that have given rise to nano money which can be broken down and transmitted instantaneously across the world. The result will be a rapid increase in the velocity of money, improved efficiency in processing money, significantly different payment systems and net benefits to the end user. Most importantly, money can be used for the truly altruistic goal of serving society. It would be the…
