A Glimpse of the Future Crypto Economy.........

A Glimpse of the Future Crypto Economy.........

By CoachCCAlbert | Musings of the Mind | 19 Feb 2020


C'mon...admit it.  At one time or another you have thought about (or maybe did) print your own currency.  When the high dollar laser printers came out, governments were forced to step up their game when they printed currency.  Special paper, watermarks, and other security features were added.  Soon....we will be able to again print our own money, but with some stipulations thanks to crypto currency.  

Here is how it can possibly work:  

1).  Lets say you have $5000 worth of crypto in your wallet.  Knowing you will have to pay "cash" for some items during the day, you go to your printer and you print a few $1.00, $5.00, and $10.00 crypto notes.  These notes have specific features such as QR codes and addresses that are tied to your crypto wallet.  

2).  During the day, you use a vending machine to buy a coke or something.  You slide the crypto note into the vending scanner and it deducts the amount from your crypto wallet.  The note also has security features such as IP addresses of location printing, physical address, and name of person issuing the note. Once the note has a zero balance, just wad it up and throw it away.  

You can also use this method to pay "cash" for items from individuals, stores, and the like.  The first question that you have thought of by now is why not just use your phone?  Well, there is a segment of the population that may not have a phone, or the phone is cut off, lost etc.  You get the idea.  If a person does not have a way to scan the notes immediately to receive payment, they can go home and scan via a device or take it to a participating bank branch and have it scanned and deposited into an account. 

Micro economies can be set up within groups and can use their own crypto as a means of trade.  If you have read my previous articles, some of this will make better sense, but the government will be happy also.  Why?  A certain minute amount will be "mined" of each scan and deposited directly into the government coffers. 

As a result, governments will no longer have to print cash and if cash is still wanted, people will simply print it themselves and tie it to their crypto wallet.  The cash economy will still exist, but with one added feature, it will be monitored by taxing governments and will be able to literally watch the flow of money in real time.  This will not eliminate entirely illegal transactions, but it will allow the taxing of them.  What a happy medium!

Use your own imagination and figure out some other ways this can happen and comment below!

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CoachCCAlbert
CoachCCAlbert

I am a well rounded person with vast experiences in life. I can talk about almost anything


Musings of the Mind
Musings of the Mind

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