Money 20 years from Now??

Money is a form of communication which world has come up to value every possible thing in this earth, it might be for living or non-living. Generation after generation human has developed an arrangement through which he or she can sell/buy anything or value anything with a word called “Money”. Remember this doesn’t exist in Nature or with millions of spices that live and die on earth, this exists among only with Humans. If mother earth would have asked for money for her relentless service to humankind, she would have countless money where there would be less space for humans. Since the word “Money” has been embedded in very humans DNA and is hard to function without it. So, we will be discussing going further what will be “Money 20 Years from Now”

Money does not have a face value in 2024. Its all-digital people hardly keep money in their pocket. Banks too maintain a person’s bank balance digitally; Physical money is losing its value. Banks too are printing less money, in a way it’s good to go digital considering increasing global population, printing too much money will create inflation in nations and society. Going digital is the best and safe option for banks. But at what cost?? Bank should also consider threats digital money incurs on future generations.

Today’s money doesn’t have any denomination and also many alternatives to money are being introduced to society such has Crypto currency, Amazon Coins, Torekes, Sweatcoin, LETS Etc. So going forward there might be multiple forms of currency whose value might be based on human needs at that moment. For example, a part of salary to an employee could be paid as grocery points with whom manufacturer or retailer has tied up with that company.  Or you could be paid with what is missing or wish to have in your life or at home. For example, an iPhone, Air pod, OLED tv, Car etc.

In today’s world money is valued as medium to exchange goods between two. Going forward money could be NFTs, Digital coupons, Digital Points where you need it to buy necessity goods.  The coupons could be exchanged between individuals to buy what is required for living. Because 20 years from now the world will be so digital that you have every essential available online from vendors who would accept multiple forms of currency for a goods not necessary the money in physical form.

Banks in future would not only maintain your money in digital form, it will also be maintaining digital Coupons, NFTs, Cryptos etc. In their systems. Your ATMs in Future would give you different forms of printed vouchers which is used a medium of exchange. In future Banking business would be having different vertical and horizontals which will maintain different forms of currency.

Today US dollar or British Pound might have highest value in compared to other Nation’s currency. In future a nations government can come up with a currency, Coupon or any other form which might be valued most to obtain or posses a segment of materialistic thing. For example, a country can come up with its own token or crypto platform over social media through which you can buy gold in a cheaper rate using a particular currency or Voucher. In other form people tend to use such coupons/currency in that particular segment. In future there might be multiple forms of currency Equivalent to Dollars, Pounds to obtain a materialistic possession. Currently Bitcoin has more value than any nations currency.  

The money will be so digitalized in future that coming generations might forget the denominations of currency notes and coins. Also, in future so called money will lose its value and acquiring material possession will be lone intention among the general population. In future transactions not only happens via banking system but there will be multiple systems and platforms which will provide opportunities in different means to buy. Each such kind of platforms and systems might follow their own blockchain technology to keep records. The future Forbes richest persons list would be gauged based the materialistic and non-materialistic possessions what they own or enjoy, because money would have lost its value.

So, with this digitalized money comes a greater threat to human kind in near future. With the increase of “Generative Artificial intelligence” usage by the humans, a super bug might be introduced to this world which can self-learn and can hack banking system to destroy all digitally store data of individuals either stored in hard disk or cloud to make everyone’s bank balance to zero. Or an alien might visit us who has superior computing powers, might destroy our banking software platforms globally to make our digitally saved money to zero. With such kind of non-recoverable and non-destroyable super virus attacks on our banking system would bring a greater chaos across the world. Also, with the fast-growing advancement in technology, it could lead money printing machine which might print exact same copy of 100-dollar bill surplus and transacted across globe. So, future of money and its face value might become bleak.

In future governments and states will have bigger challenge with respect the word “Money”. Every banking system should retrospect what money was and also look fore forward what the money will be in 20 years from now and act to regulate other forms of money like digital, Crypto, physical, bonds etc. if not globally money can become a challenging one to handle. Also, general crowd should be smart enough to understand money in future and not to be so greedy to amass a big bank balance. Banks are only a state-controlled platform and any time it might collapse.  So ultimately it would be not about accumulating money for next generations, it’s about sustainable tomorrow that we build or give to coming generations which will prosper and remember the good deeds of past generation.

Warm Regards,

Nagananda