The Ingenesist Project

The Next Economic Paradigm

Tag: Metacurrency

New Economies at SIBOS; The Metacurrency Project

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On September 2, 2011

In General Information

The New Economies Panel at SIBOS Innotribe this year in Toronto represents the most important elements of a new economy which many people believe is emerging to replace the old one that continues to crumble around us.

The common message of New Economy movement is the vastly expanded definition for the term “Value’ – far beyond that which can be articulated with money.  Very few organizations hold this idea as explicit to their DNA as The Metacurrency Project.

Few can deny that the Sun delivers all value to our Earth.  The Mass of our Universe provides the rest; Gravity, Motion, and time.  In this context, money is a trivial device that simply articulates the relatively archaic things that humans can manage to conjure and horde from the vast natural resources that are delivered to us for free.

The idea that Energy can exist is many forms cannot be separated from the fact that Value can and must also exist in many forms.  The challenge that we face as a civilization is to build an economy that articulates all Value completely and truthfully.

The Metacurrency Project has become a Worldwide conversation expanding the definition of value and building systems to articulate such value in communities, companies, and society.

I had the opportunity to meet Art Brock at The Future of Money and Technology Summit in San Francisco earlier this year.  Art represents a very important voice in the discussion of new economies at SIBOS/Innotribe on September 19-23 in Toronto.

We look forward to seeing you in Toronto.  If not, then thank you for continued interest and participation in the important subject of New Economies.

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The True Economy, The True Value

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On August 31, 2011

In General Information

I am reading The New Capitalist Manifesto by Umair Haque in preparation for SIBOS 2011 where I will have an opportunity to join in a common conversation. I will be speaking on a panel called New Economies along with several other distinguished presenters (see Below).

New Economies = The Values

The most important thing about the discussion of new economies is the idea of Value.  It is essential that we define Value much more completely than just those things that can be articulated with money and shift to include all forms of Value in our entrepreneurship.  The Sun delivers value to the Earth. Parents deliver value to their children.  Communities deliver value to society.  A true accounting of all value is essential to the discussion of new economies.

The New Capitalist Manifesto is a hugely important book; Here are a few of my thoughts.

First; it provides a vital framework to begin accounting for what we call “True Value”; an accounting of real net value creation as opposed to borrowing, transferring, or destroying value that is not necessarily represented on a financial balance sheet.

Second; the new economy and emergent new accounting system will happen whether we like it or not.  There is little that people can actually do to avoid it. The new economy is a matter of survival – it will happen at the speed and drive of survival (hence “Capitalism”).   So make your choices now as these will define your future.

The third observation is that nobody is immune from the new economy.  The more one resists, the more it will persist.  The stronger that a country, corporation, or traditionalists hold to legacy ideas about linear value and forest-to-dump consumerism, the faster and more dramatic will be their demise.

So what does this have to do with Social Flights?

Social Flights is attempting to replace the horrific concrete wasteland of the command and control “Hub & Spoke” system with a Democracy.  Our premise is that people can self-organize around two points and efficiently share an airplane that flies directly between them from smaller airports.  In effect, we replace the infrastructure with cloud data to accomplish the same thing with a far superior customer experience, and therefor, greater true value.

Think about it; all of the world’s airlines are competing with each other in a race to the bottom around the Hub and Spoke system.  The two largest aircraft manufacturers are beating each other up around the strengths and limitations of the Hub and Spoke System. The whole system is limping along on razor thin margins. Yet, the vast majority of “true and complete” Value of travel is the human experience and the value of relationships, communities, and their actions together.  The only reason that Travel exists is being unceremoniously tossed out on the tarmac….

If you don’t listen to your customers, then at least listen to Umair Haque.

So, if you are a university, a corporation, government, or any institution dependent on physical infrastructure in order to match supply and demand while insulating yourself from competition, then you should be very concerned about the new economy.

New economies
Is money the only form of transaction value and wealth? What about social currencies? We will expose you to new thinking on new economies such as the trust economy, the intention economy, the relationship economy, the social economy and the ethical economy.

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The Future Of Money And Technology; Monetizing Intangible Capital

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On March 30, 2011

In General Information

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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