WHY THIS MATTERS IN BRIEF
The future of money is an emotive topic but it can be characterised by being cashless, digital, and varied.
A little while ago at the iGaming Show in Amsterdam I was asked to present a keynote on “The Future of Money” and then, shortly afterwards, I was asked to join a panel of bods, for a bit of fun, to explore the topic in more detail, and this is the output.
I believe that as a society we often have this way of over complicating things but, like the future of transport, I think the future of money is a relatively straight forward topic – certainly at a high level. For example, if we look at transport the future is autonomous, electric and full of variants, and when we look at the future of money it’s cashless, digital and, again, full of variants – a veritable “Jurassic Era” of money.
Today we already have an increasing number of countries, from China and Russia, to Estonia and Sweden, who in total represent some 2 billion people, who are now experimenting with and laying the groundwork for national cryptocurrencies and a cashless future, but that said though, it goes without saying that this “switch,” to a completely cashless society, will take decades to realise, and as we head down this road we’ll no doubt see an explosion in the number of both community and national digital currencies, rising from some 1,800 “registered” cryptocurrencies today to, undoubtedly, many, many more.
Welcome to the Jurassic Era.