Beyond Money

One recurring question I like to write about here is: when will social media embrace the destruction of the ad-based business model? We all know that's the natural use of social media on a commercial level. And yet no one has yet figured out how to do it. Facebook had the power to do it, but squandered it, lacking the imagination. Here's an even bigger question, one probably outside the realm of any reality in the current century: can money be virtualized out of relevance? I'd like to tackle that question, using as a frame of reference Georg Simmel's "The Philosophy of Money" (which I find both fascinating and impossible to get through). Meantime, you see web applications setting up barter schemes entirely outside systems of central banking and beyond the (present) ken of governments. These don't suffer from the bit coin problem, which is artificial scarcity. Unlike commodities, money derives value, not from being scarce, but from the confidence it engenders that energy expended will beget another's energy in exchange. Photo by Images of Money.

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