Making a proper form of currency solved many problems of humans. Its positive impact were seen everywhere, a proper system of buying and selling goods was created. Rare metals were used as currency. Its was a better idea to use them because no one could be able to manufacture it and the fact that it was rare, people valued it. Rare metals were with some disadvantages, they were too hard to carry. People got their currency looted. There was different values of metals according to their availability at different places. Which meant no fixed rates. Gradually, people started searching for new ideas for replacing metals.
Then came the era of paper currency. The government approved a new type of currency called ‘paper currency’. The paper with specific size, colour, marks, logos and design were created and circulated in the public which was accepted everywhere inside the border of a country.
Liquid currency or the ‘numbers’ in your bank account which can be converted into physical form or directly be used by you to buy something where the lender accepts it.
That was all about the past, in this century a new form of currency is seen, the crypto currency. It is not generated by government but private organization. It can be bought or ‘mined’. Mining is the process of using your computing power to help transfer the bitcoin from one person to another. The energy and the computing power used in the transferring of the transaction is credited with some amount of bitcoin.
Basically, We need energy to make any type currency for instance, Gold is extracted from inside the ground, using machineries or by using power, Currency notes are created in bulk by manufacturing units, Crypto currencies are created by computers and transferred by computers. The formula is;
x + Energy = Currency
The main idea is to use energy directly. By putting x = zero (nothing). As energy can’t be created nor been destroyed, no one could be able to create any copies of it. In order to make this possible, new types of technology should be created. A technology that can store infinite amount of energy in it. It should be portable. Energy in the form of electricity can be invented. Imagine visiting a shop and tapping the device with the lender’s and making payment through that.
Imagine working out in a future technology workout machine and storing your energy and making money. No one will be poor or unhealthy. Alternate idea could be to create an organization like banks which can securely store energy and transfer amount of energies from one account to another. The prices of food will be depended on the amount of energy they release in our body. The prices of elements like coal, gasoline and other materials will be depended on the amount of energy that can be extracted with the existing technology in that period. The market will be controlled by scientists who will create new technology.
What can be the possible outcomes? Will we be able to survive? Can It be possible?