The future of money | Neha Narula

What happens when the way we buy, sell and pay for things changes, perhaps even removing the need for banks or currency exchange bureaus? That's the radical promise of a world powered by cryptocurrencies like Bitcoin and Ethereum. We're not there yet, but in this sparky talk, digital currency researcher Neha Narula describes the collective fiction of money — and paints a picture of a very different looking future. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://www.ted.com/translate Follow TED news on Twitter: http://www.twitter.com/tednews Like TED on Facebook: https://www.facebook.com/TED Subscribe to our channel: http://www.youtube.com/user/TEDtalksDirector

Comments

1. Simple,get rid of paper bills and go back to metal coins.
2. Nem Xem is the Next Generation Blockchain
3. Ну, про перелом в ходе второй мировой войны - это Неха загнула! Оказывается, всё, как всегда, решили программисты и математики, не выходя из кабинета, а те, кто с автоматом бегали за фрицами и в окопах сидели, это так, несущественно. Они просто внимание врага отвлекали, пока разведка Энигму искала!
   А по сути, стоимость биткоина - это как и c долларом, результат доверия к данной денежной единице. Поэтому, тем, кто использует биткоины выгодно пропагандировать их использование и "гениальность" всей системы. Ведь стоимость биткоина напрямую связана с кол-вом транзакций.
4. Oh..... it is so
5. we have been spiritually corrupted for so long we have lost sight on self worth. many corrupt Elites created like the Private Federal Reserve with Fiat Currency back by Debt that was devised by the Rothchilds, JPMorgans ect of the Big Banking Elites in their Ponzi Scheme for Control over anyone taking out a loan be it for a mortgage or business.Time we all as a Community Support each other over Corporate Banking Entity's in real time human to human exchange is wear it's at!
6. for people who have and can make money this makes sense. Who cares if money is real or not. Fix the real problem of poverty or atleast take about it.
7. Digital money can be turned off. The government doesn't like you? They easily confiscate/turn off your money.
8. The Principles for Ideal Libertarian Society, as Envisioned by Joshua Adam Stith
   https://docs.google.com/document/d/15VwP5w9hmJcleB4pdHbRtaY9vFQ7C8eAH5qyiGYZe5k/edit?usp=drivesdk
9. ubuntu system! ubuntu community! sovereignty! freedom!
10. 13:25 good point about micro-transaction potential
11. 10:48 solving the puzzle secures the network...idea: that is not correct. That the securing of the network takes prior to that by miners, and the solving the puzzle is what they are competing for to get paid
12. If you need some quick intro into the maths of Bitcoin and blockchain, grab this Kindle book
    https://www.amazon.de/Bitcoin-Blockchain-introduction-blockchain-software-ebook/dp/B01N13QFOK/ref=sr_1_35?s=digital-text&ie=UTF8&qid=1485626560&sr=1-35&keywords=bitcoin
13. Got a nagging feeling that if what proponents say is true,
    the major banks already have put in place hedge derivatives,
    and allocate a portion of their excess supercomputer capacity
    to "mega-mine" the currencies at a faster rate than most, ensuring
    continued profitability in any event.
14. Bring it on,... as soon as paper money as gone, the better.
15. Awesomely explained
16. This feels less like a TED talk and more like an infomercial. Wonder how much she got paid for this and by who? No coincidence this "talk" happened at the same time Microsoft started marketing their own block chain right? I have less respect for TED talks after watching this infomercial.
17. Didn't like neither agreed with the last part, I wouldn't pay for anything, the internet is free thanks to the advertisements, and I love ot how it is, whu pay a cent to send an e-mail? Absurd
18. Only if masses understood the difference between currency and money.
    
    I think basic economics should be a compulsory subject in elementary school (or may be high school) curriculum.
    
    Currency is medium of exchange (a unit of measure) for money. A nation can increase or decrease money supply to control economic indicators like inflation and GDP growth (it's called monetary policy). As more money is issued, the value of money de-valuates as compared to money from other nations (with different units of measures like euro and rupee) and commodities like gold, copper, wheat, oil etc.
    
    Bitcoin will never succeed money as it implies that few geeks can supply more money (no direct relationship to gross domestic product Or a nation state). Yes, the technology behind Bitcoin (called Blockchain) has a huge potential to solve many frictional problems we have when exchanging different types of money (currencies) .
19. This can be an exciting future of money as long as the pioneers for the industry DONT FOLLOW THE TRADITIONAL PATH, as long as they DONT INTRODUCE THE TECHNOLOGY TO GOVERNMENTS OR SELL IT HIGHEST PAYING CUSTOMERS FIRST (which are usually the owners of the banks and the very people that are quote "holding us back").
    
    Unfortunately, people like Neha and other early adopters are only interested in making the most money for themselves. So Neha WILL sell her ideas/infrastructure/tools to whoever pays her the most and makes her the most money. Eventually we WILL see that the very same people who had all the power before, just bought it again and have the tools to maintain it. The revolutionary power of this new tech will be repurposed and be used to maintain the old structure. It will be sucked dry of its revolutionary capabilities will flop faster than a fish out of water.
    
    This is laughable because ive seen it all before. This isnt going to revolutionize anything. And Neha Narula and her early adopter companions are to blame. Cool tech though.
20. If everything becomes automated and trade happens between computers won't the need for people to be involved eventually phase out? Then what? If computers and robots end up doing all the work, how will people make money to consume the things produced?