[Recording Start]
Rick Rosner: The future of currency. Somebody was asking a panel I was on this morning, of some bullshitters and some people actually know what they’re talking about… I’m one of the bullshitters; if the dollar will remain the currency of record, what do you call it? I don’t know.
Scott Douglas Jacobsen: The reserve currency.
Rosner: The reserve currency into the future. And you can talk about whether it’ll stay the dollar or it turn into the yuan. But I would argue that around 100 years from now, the unit of value, which is not the same thing as the unit of currency, but the unit of value will be computing power. That civilization will turn so much to information processing and that it will become a resource that is measured, developed, hoarded, that it will become the prime index of value. Everything else will be measured versus that. And one more thing is that there maybe two indices of value based on that. One is the machinery to do a certain number of calculations per unit time. That’ll be one index in terms of servers, I guess. And petaflops; quadrillions of calculations per second. So the rate at which information can be processed but there’s also another index which is just the number of calculations that can be done and they may each be indices of value. Like, you might have a contract to do 10th to the 20t bit wise calculations and that might have a going rate in the year 2110.
[Recording End]
Authors
Rick Rosner
American Television Writer
Scott Douglas Jacobsen
Founder, In-Sight Publishing
In-Sight Publishing
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In-Sight Publishing by Scott Douglas Jacobsen is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. Based on a work at http://www.rickrosner.org.
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Rick Rosner 