-
We can go online in the space of ten seconds
-
we have 20 tabs with amazing initiatives
-
and amazing people all around the world.
-
It naturally raises my standards and raises
-
my expectations in terms of what I can achieve.
-
And when I see all this stuff,
-
it's sort of this feeling of overwhelming
-
what the hell would I do with this?!
-
On the other hand, when I'm clear,
-
it's just this complete bliss and ecstasy
-
that there's just so much richness
-
and if you talk about wealth
-
I feel like I have the world's
-
collective consciousness at my fingertips
-
and I just feel so rich!
-
Alot of us had parents that were baby boomers
-
and potentialy disillusioned hippies.
-
They supported our creative side
-
and somehow we caught their idealism.
-
and now we're interested
-
in the structure of money.
-
I think it's going to be really incumbent upon
-
those of us for whom digital technology is more natural
-
to invent the systems of the future.
-
I can't imagine how many great ideas out there
-
are buried in the backs of the minds of people
-
-- of young students, with a lot of debt --
-
who just don't have the ability to pursue them.
-
It's like shackling our innovators.
-
When you base lending and credit on things like
-
financial history or cosigners,
-
those things exclude millions of people
-
around the world that don't have them.
-
However everyone has potential,
-
and if you can base credit on future potential,
-
that brings a lot more people into financial inclusion.
-
It's actually not a question that you pay
-
for what you already got,
-
you actually pay for what you will get.
-
The things that can be made because you paid.
-
I think one of the things that's going on right now is
-
a re-examination of value,
-
and of wealth,
-
and of assets,
-
and of a lot of words
-
that have a lot to do with money
-
but really aren't about money.
-
Money itself seems to be a mystery
-
for most people.
-
It is just so shockingly alien to you
-
if you compare it for how many
-
decades you are using it until you are questioning
-
yourself for the frist time what it really is.
-
We've given money the properties of the divine.
-
You know money is not wealth,
-
money is potential wealth.
-
But we give it such power that it influences
-
the way we feel about ourselves.
-
By experiencing a complimentary system,
-
I changed my notion of wealth.
-
People need to see themselves more as producers.
-
And if they see themselves as producers
-
they can also see that
-
they create the value and that there's probably
-
someone out there can benefit from that value.
-
There is actually a direct link between the kind of
-
new social habits we are learning online
-
and the social movement which is created
-
we're more willing to connect with someone who
-
we've only seen a profile of online,
-
and to trust them, in real space or with our time
-
I would share almost all of my information
-
with complete strangers because I feel
-
there's an integrity to the way I live,
-
and it's fine for other people to know about that.
-
As we work together
-
creating these collective projects
-
then trust naturally comes from that
-
and out of that trust we then seek to
-
organize new forms of social life
-
so trust is at the basis of the
-
re-creation of real communities
-
which are no longer bounded by place,
-
but are bounded by shared values.
-
You put yourself in a more vulnerable state
-
when you express what you need.
-
We go out and we buy it
-
from people we don't know,
-
but we don't turn to our community.
-
Putting all that information into one database
-
creates an enormous amount of potential energy.
-
When you know what a community needs
-
you know what the market demand is.
-
If there was a kind of bank that allowed me to
-
convert my money to a local currency right now,
-
I would do that.
-
Successful businesses and other
-
non-business organizations of the future
-
will have to be more transparent and more human,
-
and the ones that succeed in the long run
-
I think are going to come back
-
more as peers in our society
-
so they can behave in trustworthy ways,
-
rather than trying to tell us over and over again
-
to trust them.
-
Banks are going to have to evolve
-
to meet the new business models around
-
mediating trust and communities
-
and the ones that do are going survive
-
and take on a very different role,
-
and the ones that don't I think are just
-
going to go out of business.
-
Try to start and think in new ways
-
join the discussion, like this discussion,
-
on what's to come and what is value,
-
what could replace money.
-
It's more about creating an atmosphere
-
within a company or organization that allows
-
the people who work there to speak out
-
crazy ideas without being fired right away.
-
Think about the first days of aviation.
-
The Wright brothers would say,
-
"OK, let's make this thing fly!"
-
But they wouldn't think about huge infrastructure that is needed;
-
airports and embassies and people and security
-
and you know all these are huge opportunities.
-
The bank again is not an external entity to the community
-
but is an expression of the community itself.
-
What are the kinds of flows that we want to see?
-
What is that we want to shape?
-
What is that we want to measure?
-
And then try to design currencies for them.
-
Think about currency as
-
open to the principles of the free market.
-
Just as corporations are free to compete for
-
various value-creating opportunities,
-
currencies should be free to compete.
-
Different currency models competing
-
against one another for their ability to
-
serve different purposes.
-
We're starting to reconsider how
-
the commercial economy
-
intersects with gift exchange and the commons.
-
And no business likes to hear that
-
something of what they're doing
-
might fall into the commons, might be a gift,
-
might be very cheap to do, or easy to do
-
but they are, it is.
-
and if you actually have your eyes open and look
-
at those forces and understand them deeply,
-
you will see new business opportunities
-
around the commons,
-
contributing to the commons,
-
being in a symbiotic relationship
-
with the commons that are different
-
from the way we used to do business.
-
And I do think there is a great
-
money making opportunity
-
in currency innovation
-
so that rather than simply innovating
-
in terms of the financial instruments built on top
-
of the current currency system
-
you go underneath
-
and actually develop new operating systems.