If you ask most of my friends and colleagues working full-time in the crypto-currency industry what’s the ultimate objective of our movement, answers (if any) are usually ranging from making BTC the World’s dominant (or the One) currency to having thousands (may be tens or even hundreds of thousands) of different interoperable currencies linked together by platforms like Cosmos, effortlessly shape-shifted in our wallets and bot-traded in token-sets. However, that might only be the end of the beginning — not the beginning of the end.
iMHO where we are heading is not only the world with unlimited money supply but also, essentially, the world without money.
Before you’ll accuse me to be socialist/communist-leaning let me remind you that when you provide everyone with a capacity to produce CO2 and you have something like three trillion trees each absorbing about 50 pounds of carbon dioxide to release O2 into the nitrogen content that has been seeping out along the molten cracks from the chunks of primordial rubble for billions of years you receive an unlimited supply of absolutely essential for our life MoE/SoV/UoA — or, of course, the air.
If we have an insane number of humans each engaged in production and consumption at the same time, the only question is what’s the maximum level of personal production capacity with regards to the optimal (or “healthy”) level of personal consumption.
We can also think about it in therms of Leontief input-output models ( “technology matrix”) where horizontals are filled with individually consumed products and verticals with everything people are capable to produce (both materially and virtually). Then on its intersections we can put a number of coins/tokens/whatever needed to assure the production of each of the items plotted on the horizontal axis.
You can now multiply this matrix to “x”, where x -> ∞, without affecting the matrix balance. Of course, we still have not eliminated money (or coins) from our matrix-world. We only got rid of its (money) function as MoE and SoV, emphasizing UoA instead.
On the more practical level, if we receive the technological capacity to instantly and seamlessly exchange values as a result of the combined DLT/AI/AR revolution we no longer need the presence of value tokens (regardless of whether it’s a credit bill, a piece of gold or a blockchain transaction) in our consciousness.
We simply start to function normally as a human being trying to reach the limits of our god-given talents while the technonature “algorithmically” rewards us by providing physiological/psychological stimulus and social opportunities.
Of course, we will still have two unresolved question left: over-consumption and resources limits.
First issue comes from the human nature itself, which we can’t control without limiting most of essential individuals’ rights. Hence, we’ll need ten of thousands of politically independent blockchain-cities and even micro-countries where expression of certain extreme humans traits might be localized and tolerated (think “gambling”).
To solve the second issue we, obviously, will need to do more of ‘the rocket science’ to mine asteroids and to break free from the earth gravity and move to other planets after the next sun/asteroid-extinction event.
Long way to go, if you ask me :)
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