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The Future Of Money And Technology; Monetizing Intangible Capital

by Dan Robles on March 30, 2011

The following video series was recorded at the Future Of Money and Technology Summit in San Francisco on February 28, 2011. The name of this panel is Monetizing Intangible Capital. The speakers are Mary Adams (moderator), Art Brock, Greg Wendt, and myself. All six parts are posted below (8-10 minutes each) for public distribution, comments, and review.

I found this panel to be extremely interesting and especially valuable since these panelists represents an important cross section of professionals who are actually doing the hard work of designing, testing, developing, and producing specifications for the creation, storage, and exchange of what could represent a large percentage of the value in our global economy.  This discussion is not insignificant by any measure.

Mary Adams opened the panel with a remarkable statistic that 80% of our economy exists in the form of intangibles that do not necessarily show up in the balance sheet of the global economy – which is notably in crisis at this time.   Mary offers a working definition of Intangible Capital as consisting of 3 primary components: Intellectual Capital (the stuff between people’s ears), Relationship Capital (degrees of connectedness to a social network), and Structural Capital (tools, processes, and data).   Then, Mary adds a fourth category called Strategic Capital which includes planning, formulation, and scenario testing.

Mary then brilliantly guides the audience and the panel through 50+ minutes of high quality interaction addressing some of the most pressing issues of our time from the uprising in the Middle East, to Healthcare, Global Warming, Organic Food Production, and even the Internet Kill Switch – all these subjects become interconnected and relevant in this domain.

Art Brock introduces a set of very important ideas about how there is a vast amounts of “Value” that is not, and many never be, adequately articulated by a “monetary” system that exists today.  It is therefore necessary to capture value in a completely different manner involving higher forms of expression which, in turn, introduce a new “value system” that would better represents social priorities and the fair distribution of resources and associated wealth.

Greg Wendt introduces his work related to articulating the planet Earth as the “Meta Economy” under which the financial economy is merely a subset.  When accounted in this manner, humans are spending beyond our planet’s means to replace resources consumed.  As such, we cannot expect to arrive at a “Balanced Budget” by anyone’s definition unless we include a full accounting of Earth’s productivity.

I, myself (representing The Ingenesist project) suggest that there is a small flaw in market economics that can be corrected where the factors of production include a “knowledge inventory” rather that a material inventory of land, parts, and simple labor.  Such a knowledge inventory, if articulated in the correct format, can act as the basis of a social currency that may compete admirably with, if not fully replace, a vulnerable dollar based economy.

I was deeply impressed at how four highly recognized experts can approach a similar problem from four completely different directions and environments yet arrive at fully complementary set conclusions and subsequent solutions.  I encourage the viewer to watch the entire series as this is truly a rare meeting of minds.

Monetizing Intangible Capital Part 1/6

Monetizing Intangible Capital Part 2/6

Monetizing Intangible Capital Part 3/6

Monetizing Intangible Capital Part 4/6

Monetizing Intangible Capital Part 5/6

Monetizing Intangible Capital Part 6/6

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