After Money

After Money was my thesis project that questions the logic behind the modern monetary system.

Money, arguably, is the single most powerful influence on Earth. And yet, money we use today no longer carries intrinsic value. Trying to understand the monetary system is a strenuous task. Are we using currency effectively and consciously? Is our value system primitive? Do we need to evolve beyond money?

The problem

• No backing; value based on trust and belief.

• No cap to money supply, virtually a limitless number.

• Abusable by corrupted governments.

• Trillions are generated each year, disparity gap still widens.

• Inflation; housing becomes difficult or even unrealistic for some families.

• Non-beneficial to younger generations, passing a burden of debt to youth.

• Outdated; no longer suitable for the evolution of civilization and humanity.

• Not relevant or beneficial to the sustainability of resources.

• War, destruction, and enforcement are methods to promote economic growth.

• If government fails, the currency falls with it.

The Solution

What if money is backed by something essential to humans and all life forms? What if money is backed by water, calories, and land? What if money is backed by energy?

Any form of production or progress is just a form of transfering energy. From harvesting raw materials to production and transportation are forms of transfering energy. Money that is backed by energy will give currency a meaningful way to measure value. Energy itself is an undeniably valuable asset.

• The currency will be accepted universally.

• Due to storage issues, it encourages circulation of currency.

• There will be a finite and measurable supply of currency.

• If a government or society falls, energy will still be valuable, relevant, and essential.

• Beneficial to the well-being of future generations.

• Suitable to the current state of civilization and economy.

• Timeless relation to the standard of living. Beneficial for long-term investment.

• Encourages sustainable energy, raises public consciousness on energy consumption.

• Encourages innovation in energy production and storage.

• War and destruction no longer a logical way to promote economic growth.

Go to thesis project

Reflection 10 years later:

I see the innocence and my youth in this thesis project. The ideology and utopian future I wished to create that will solve all problems. I didn't think this can realistically be implemented, I wasn't that innocent. However, the idea of energy as currency having undeniable intrinsic value still stands, without energy, nothing matters. And the issues with the monetary system has only gotten worse after all these years. Bitcoin and cryptocurrencies are the closest thing we have, yet quite the opposite because of the energy costs of mining.

Hearing Michio Kaku explain the Kardashev scale, I see this type of currency to hypothetically move our civilisation from type 0 to type 1.

It is comforting to know this innocence haven't completely left me.