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.

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