This is a single audio-video discussing the creation of new currencies based on new technologies or what can be called, Chip Currency or Network Currency. Initially, when considering financial systems and their problems I wondered why not just abolish money altogether but I see now that this would just create new problems. Propping up existing currencies is equally unappealing and is clearly impractical. So, we need to create alternative and/or complementary currencies that better serve our individual and collective needs. One could argue that all we need is new small businesses and local economic development to address our financial concerns. This sounds good but with all of the new millionaire’s and billionaire’s that we have there is no reason for these investments to not have already occurred if at all. The problem is not so much one of a lack of investment but rather an unfair and unequal allocation of resources. For instance, in Silicon Valley there are all of these Internet and Technology companies, so why is there not full employment for the residents of East Palo Alto? Another perfect example is Richmond, CA, where the Chevron Refinery is located but how many job opportunities are there for Richmond residents within this International Corporation? Investment sounds real good until you do the actual mathematics and it is just another word for the phrase, “the rich get richer.” The systemic inequalities within all of our present currencies are unresolvable, within …
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Chip Currency – Card, Mobile and Internet
