The future of money

Lets face it money is just a convenient way of trading value. What is value? It is the exchange of something of worth. It is not value until there is demand. Money as a exchange of value needs 2 things to work:

  • unified acceptance as a store of value – trust
  • utility – safe and convenient

The blockchain has come some way to solving these issues but there is still a long way to go. For example:

How do you know a digital currency has value?

You would have to assume it is only worth the value others will accept it at. Clearly your biggest expense is tax. This is the only expenses you will go to jail if you do not pay (love a free country).  The next is your mortgage or rent. Clearly you want a roof over your head. Both governments and banks accept fiat currency and nothing else as payment for these expenses. So why would you consider any other currency?

Well why not?

If there was an alternative currency for food, lifestyle and other necessities that was safe and convenient, easy to earn, free to exchange and didn’t mean going into debt for there are some clear advantages.

  • It would break the monopoly banks have on just about every aspect of your life,
  • it could create a new value system where money entered into the system from the bottom up instead of the top down,
  • it could reduce the cost of doing business and lower the cost of living.

But how do you gain unified trust and true convenience?

Firstly I believe it is not going to replace fiat currency (money) and it is going to take some will to want change. Pearls is a partnership between fiat and digital currency. It uses fiat to pay a percentage of a sale and digital to cover the balance. How much is covered by digital currency will depend on the businesses accepting it.

The currency has value because the business who issued it has a mandate (a guarantee) to accept it back at a percentage they feel comfortable with. This percentage will vary from time to time depending on the demand of their goods or services. You do not need to count your coins for every purchase the pearls app manages all the currency and gets you your best combination to save you the most amount of cash. Sort of like a discount only the business can spend the digital coins they accept.

How do you earn this digital currency (coins)?

You can share offers by the businesses, everyone who accepts earns some coins and so do you. You can invite friends and contacts to the platform, to grow your network and you both earn coins. You can even play to earn, the point is there is a relationship between you, your network and local businesses that creates a ecosystem growing trust and allowing you to earn, store and spend real value. It is a true win win for everyone. We call it social currency. It’s a free, safe and convenient way to start your digital currency journey. – social currency