Evolving Money/Money – The Fundamentals

To broaden our thinking about how money systems can be reimagined, we can begin by clearly defining the problemmoney aims to solve.

How can we facilitate the exchange of goods and services?

Here are some alternative solution approaches (presented in a format adapted from an attribute matrix) where a characteristic is followed by various alterative values:

Assuming exchanges take place, then options to consider include:

1. Expectations of reciprocity: (none, optional, personal, barter, communal, private, public, immediate, deferred, material, symbolic, or reputational, …)
2. Exchange of (similar) value: (now, promised future repayment, intrinsic value, symbolic value, good will, barter, …)
3. Record keeping:
   1. There is no record of the transaction, or
   2. There is a record of the transaction
      1. Private, our (the parties) memories only
      2. Private, my written record only
      3. Shared, we both get a copy of the written record
      4. Exchange takes place in public, creating many witnesses to the exchange.
      5. Third party retains a written record (privately)
      6. Public record of the transaction
4. Creating the money supply
   1. Tokens are earned, found, extracted, or manufactured
   2. Fiat money – Authority generates tokens
      1. Various distribution protocols are possible to distribute these new tokens, such as to the banks, to the people, or to some agency.
5. Cheating: theft, counterfeit, modifying records, delinquent repayments, externalities, (tragedy of) the commons,
6. Ownership (and stewardship) of public goods such as land, minerals, ecosystem services, radio spectrum or internet channels, silence, clean air, wilderness, water, waterways, fish, game, wildlife, trees, attention, influence …
7. Concern for future generations (none, only our sense of duty, environmental action, young people, proportional representation, … ) This leads to the following additional research question:
   1. How can future generations be fairly represented in today’s decision-making forums?
8. Transfer (of wealth) (none, anything goes, regulated, …)
9. Storage (of wealth) (none, increases in value, fee for storage, constant value, …)
10. Paying for shared goods and services
    1. Voluntary contributions, charity, philanthropy
    2. Usage fees
    3. Tax