Month: January 2017

How will we send money in 3 centuries?


A lot can happen between now and 3 centuries from now. If we think about it, 3 centuries ago you could not send money across the ocean without physically moving the money. It would take months, you didn’t know if the money arrived and it was highly unpractical.

Will we continue to use currencies in the future? Will we trade something else? This is what we are going to see.




Can we avoid to use currencies?

Centuries ago, most of what people had were not in the form of currencies but food, furnitures and a roof. When you had to cross the ocean, you would take your furnitures with you and that’s how you transferred your wealth. Now, 99% of our wealth can be expressed in a number which can be expressed in a dollar value. Your house, 980 000USD, your furnitures if listed on craigslist : 10 000USD, your dog : no I can’t go this far, this is the 1% of things you don’t want to express with a figure value. Being able to express wealth with a number makes it really easy every time you want to transfer your wealth from one place to another. Should we avoid to use currencies to transfer money overseas, no.


Technical way of sending money in 3 centuries

If I’m thinking at this moment of the easiest way my mind can conceive to send money abroad, it would be using my phone, entering the email of a friend and typing an amount. The amount would be converted in the destination currencies, I would be ripped off by hidden fees but still the money would be transferred as an IOU in minutes. We know though then in 40 years, we won’t be using the same technology to interact, I can’t believe that we will still use a phone for example. In 3 centuries this will be even more true. So let’s think out of the box about this. Should I talk to my watch to tell it to transfer the money ? Should I just think about it and my mind would pay the person? What I’m thinking is that money will be something used in the background. You won’t have a wallet, you won’t have a credit card, though every time you use a service, the service knows you and debit you. It will be super easy.


Cross currencies

When you change currencies, an exchange rate is applied and most of the time, it can be highly different from what is a good exchange rate. The ones that decide the exchange rate are most of the time the one who sell you the service, you don’t even notice it. What happens in the facts is that some service charge you up to 10% to transfer your money without you realizing it.

The future of money transfers


This is the first article of a serie I wanted to build for a long time. I will think and brainstorm about the future of currencies and money transfer. My idea is to state the universe and the different ideas I have about this in a first article before starting to explore in more details all these subjects.




Limit of money transfer

One of the first subject will be about what is the limit of money transfer. Can money transfers be free? If not, what could be the price? Are the technologies ready for this and can we hope new technology to rise up on this matter? We will also dive into the limit of speed of money transfers, how fast they can be, will they be able to be instant and so on.

Worldwide currencies

The second subject we will explore is about worldwide currencies. And many questions rise on the subjects such as if we already have one working, what will it implies and how this would work. Currency is often considered as something economical when in the end it’s highly political. We will see how a worldwide currency could limit the effect of politics in this matter.

Local currencies

In the third subject we will consider the importance of local currencies. A local currency is a currency which can only be used in a specific geo localised space. As of today, some local currencies exist such as in Paris or Berlin, but national currencies are often also local currencies.  In the end will we need national currencies?

Time currencies

And I can hear you thinking “what does this guys is saying”, yes this sounds different, but the concept goes back a long time in the economist minds. After all, we work to be able to afford free time, leisure time.

Transfer between planets

The last subject is about the future of humanity, when we start colonising other worlds. What will happen when people start to travel between these countries and if we will be able to transfer wealth from one world to another.