WSJ: the Coming Currency Revolution http://hub.vg/v4VPr #futureofmoney #mobile

7 minutes video worth the 15 seconds ad.

If a Facebook virtually currency does not leave the FB environment, what good is it in the long run? Also, the future of any digital currency rests firmly on its ability to emulate the same exact features of a $100 bill today — namely full anonymity and untraceability. Who wants a step BACKWARDS from a paper $100 bill? Nobody!

Resist digital money……unless it’s anonymous.
http://themonetaryfuture.blogspot.com/

I think by using the Future of Networks post as the focal point and expanding it around the participants extended insights i believe not only keeps track of what may unfold from added value but keeps track of every participants line of interest based on that focal point.

I hope people participate and keep it active.

Four will become two and the two will race to the top of the mountain looking down at the billions who they are bringing into one system.

In that system, networks of people.

Folks, welcome to the future of vitural life.

I think we’ll see the power of networks to build lasting relationships the kinds we used to see in our communities – the shift being that its moving to a more virtual place.

Although, I also think that we will see a move to interact more and a closeness and shift to importance in those within our physical proximity. I think people are growing tired of the grind and will look to find additional “meaning” in life.

As always interested in your writings… keep up the great posting!

Cheers,

Createpei
Scott

Yeah I used to work for one of the ‘others’. To make a long story short, the US doesn’t like ecommerce, and when it threatens incumbants or state tax/revenue bases they see to it that it gets wiped out.

These were online banks being created by what were in many cases software companies moving into banking. Just telling you that alone could probably give you a good idea how that industry was developing innovation and customer focus wise. I’ll spare you the details.

Anyway, they were busy building the kinds of innovations real banks _should_ have been doing to benefit consumers instead of gambling. It was actually turning into something substantial, and I don’t mean in a dreamer sense. I mean in the sense of an already operational merchant bank with required approvals linking regions across the world, with infrastructure and knowhow, passing through $ billions, branching out into more consumer centered directions.

Unfortunately there were not a lot of things people spent money on in sufficient scale to support the creation of this online banking infrastructure. Online poker was one of the few things that did. Problem with online poker and also anything online in general is states have a hard time taxing it. But with gambling it also interferes with state run gambling/lottery/casino operations which see it as encroaching on their turf.

If it threatens their revenue streams, they find an excuse to kill it.

If you think politicians are going to watch facebook wipe out the banking system, while simultaneously making it easy to conduct business out of their tax grasp (which is what ecommerce means to politicians), think again. They’re not going to take-one-for-the-country at all.

Around the same time as the attempted killing of these ecommerce banks, walmart also talked about offering banking services out of their branches. They shot that one down pretty hard too. Nobody wanted to allow walmart to threaten their cash cow with competition that might win or reduce profits.

Banks are the golden goose for a lot of these politicians. They don’t care what is good for the consumer, or about ecommerce. If Walmart doesn’t have the clout to be allowed to play, why would facebook?

1) @patrickdixon’s forecast that cell phone carriers will become banks – http://j.mp/ajBKpU

2) @dougrushkoff’s views on why personal currencies will emerge:

>>“Radical Abundance: how we get past free and learn to exchange value again” http://rushkoff.com/2009/11/21/radical-abundance/

3) how facial recognition apps on cell phones will accelerate reputation-based personal services/currency exchange – http://j.mp/93An3F

My guess is that we may be soon see socnets – especially those partnering well with mobile carriers – launching far more resilient banking/exchange systems than societies with fiat currencies have been able to sustain.

Best,

Mark
@openworld

This post was mentioned on Twitter by VenessaMiemis: Newsflash: Facebook Surpasses Google: Is a Digital Currency System Ready to Emerge? http://bit.ly/a6n7ZY…