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Science Forum Index » Space Forum » space age banking...
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| Williamknowsbest... |
 Posted: Sun May 04, 2008 2:26 pm |
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I have posted elsewhere how a network of satellites with an open
optical communications backbone can maintain millions of virtual cells
across the surface of the Earth with phased array antennae. I have
said that $100 billion per year could be earned providing wireless
internet services to tens of billions of devices simultaneously
worldwide.
Another aspect is banking and financial services. Here electronic
micro-banking becomes available to everyone everywhere.
I created a concept a number of years ago I called 'vector money' -
the term has been appropriated for another idea. But the concept is
that people's preferences are encoded in a list of numbers and when
two people transact business, a matrix, or table of numbers is
computed so that their preferences are optimally provided for.
This whole concept is derived from Wasilly Leontieff's concept of
Input Output econometric analysis.
People ultimately create their own money - just the way nations do -
and arrange to have a positive balance of trade - just the way nations
do - by engaging in behavior that others find useful - and just like
nations - a market determines exchange rates.
All this is done seamlessly and electronically over what I call the
'valuenet' using an electronic wallet.
People are free to take tests - that are made up by anyone - that are
used to improve their value vectors - to improve their transaction
efficiency. Look at okcupid to get an idea how that works. Then when
they want to buy something, they use their own currency to do so. If
they don't have enough, but believe they can afford the item anyway,
they print more currency. When they sell something, they redeem the
currency that's in circulation. Each currency's inflation rate is
comparable to individual credit ratings. In practice, people regulate
their own credit.
The vectors actually implement processes that we associate with
political processes now. For example, if everyone uniformly reviles
murder, a person convicted of murder would have all the value of his
currency reduced to zero, and all the value of any currency he
received reduced to zero - if everyone zeroed out that behavior.
Those who support medical research could have a portion of every
transaction their currency was used in to be allocated toward the
medical research of their choice. This system is far more flexible
and fair than the current system of making government funding choices
by winning elections. Just as cheerios and post toasties occur on the
shelf at your supermarket, so too would a variety of options exist in
what we consider government. We don't have to vote on post toasties
or cheerios - and then content ourselves with whoever wins. We can
have both in a free market. This process allows a variety of choices
in voting as well.
The bulk of humanity right now does not have access to modern
communications. Fewer still do not have access to banking or simple
financial services. A value net like this one - if backed by real
growth in opportunity brought about by lower energy costs and abundand
commodities from space - might make sense. |
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