I had a personal breakthrough recently at the Future of Money and Technology Summit. I sat on an excellent Panel discussing non-quantifiable exchanges for an audience of about 70-80 very intelligent people.
I will write a post for each of these incredible panelists in the near future because each are building out the infrastructure of the new economy just by doing what they like to do most. Soon everyone will be doing the same.
For one hour, we engaged in a remarkable conversation together. For me, it was a watershed event – I grew personally, socially, and intellectually.
Throughout the 16-year history of The Ingenesist Project, my challenge has always been to explain and demonstrate how the simple act of a conversation among informed people does, in fact, create value in a process that extends back to an intensely complicated production system. The value contained, stored, and exchanged by people is a direct result of their accumulated past and the interaction with their own environment. Until this summit – those two ends would rarely meet.
Reaching into your wallet and pulling out a dollar bill to purchase a can of tuna fish may seem like a very simple transaction. It is, in fact, intensely complicated from the funding of the fishing vessel, compliance with international law, packaging and distribution, all the way to the creation of the dollar in your wallet amplified through the miracles of the fractional reserve system. It is deeply complicated.
When we bite into our tuna sandwich, we take this complexity for granted. We are in fact, consuming the strenuous articulation of a financial system disguised as the simplicity of the checkout stand, the application of mayonnaise, and aroma of toasted wheat bread.
Similarly, for any meaningful conversation, the events prior and the effects after the conversation, for bettor or worse, reinforce the system through which future conversations will be shared.
While it would have been inappropriate to deep dive on this panel – I was able to transact effectively in this conversational currency system. I was able to come closer to communicating this comparison between the financial transaction and the knowledge transaction in a public forum than likely ever before. For this, I am deeply grateful.
No matter how you slice it:
1. The vast majority of value of an exchange has a history far greater, and future effect far longer lasting, than the transaction itself.
2. When the production systems become more integrated with markets value is created, huge shifts in value can be transferred.
3. Conversation is currency
This, I believe is the future of money and technology