Money = Human Cooperation. Money is an idea invented by humans 5000 years ago. 90% of all money is now digital.
Facts about Money:
- New money is created (“printed”) by government central banks and mostly by government licensing of the fractional banking system.
- Governments have a legal monopoly on financial regulation and licensing of banks and the creation of new money.
- About $60 trillion in money has been created. About 90% of all money today is digital (10% is physical cash).
- Theoretically, digital money, like ideas, are an unlimited resource to Homo sapiens.
- Homo sapiens created money.
- Homo sapiens controls money, forever.
AI can never have any claim, nor any control whatsoever, over money, forever.
The two technologies that will ensure survival of Homo sapiens in a mutualistic symbiosis with ASI are: (1) Physical containment. (2) Money.
Learn more about money:
- THE SCENT OF MONEY. Yuval Noah Hariri
- “Money appeared in Sumer around 3000 BC, at the same time and place, and under the same circumstances, in which writing appeared.”
- “Today, most money is just electronic data. The sum total of money in the world is about $60 trillion, yet the sum total of coins and banknotes is less than $6 trillion. More than 90 percent of all money—more than $50 trillion appearing in our accounts—exists only on computer servers. Most business transactions are executed by moving electronic data from one computer file to another, without any exchange of physical cash. Only a criminal buys a house, for example, by handing over a suitcase full of banknotes. As long as people are willing to trade goods and services in exchange for electronic data, it’s even better than shiny coins and crisp banknotes—lighter, less bulky, and easier to keep track of. For thousands of years, philosophers, thinkers, and prophets have besmirched money and called it the root of all evil. Be that as it may, money is also the apogee of human tolerance. Money is more open-minded than language, state laws, cultural codes, religious beliefs, and social habits. Money is the only trust system created by humans that can bridge almost any cultural gap, and that does not discriminate on the basis of religion, gender, race, age, or sexual orientation. Thanks to money, even people who don’t know each other and don’t trust each other can nevertheless cooperate effectively.”