Urgent Evoke

A crash course in changing the world.

Future of Money - Learn

MISSION BRIEF:
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EVIDENCE TAG:
LEARN 5
STATUS:

Your objective: What breakthrough solution will change the future of money forever?

Meet Prema Salgaonkar. She's helping invent the future of money in Mumbai.

Every day, as part of a program called Mahila Milan (or “women together”), Prema visits more than 450 households in Mumbai's Dharavi slum in order to conduct face-to-face "micro-savings" transactions.

On any given day, up to 150 of the women she visits will deposit a small amount with Prema — anything between 5 to 200 rupees. Over time, these small daily savings help the women plan a better future for their families. And it's not just happening in Mumbai — nationwide in India, more than 60,000 women have joined the Mahila Milan network.

Micro-savings is just one big idea that may change the future of money forever. Social innovators around the world are designing many more kinds of ways to trade, save, barter, earn, purchase, and invest.

Your mission this week: Uncover the creative solution that YOU think will have the biggest impact on the future of money.

Here are some places to start your investigation:

Who else has a truly creative idea for solving the water crisis? Find a great, big idea and share it with the EVOKE network.

The Future of Money
Do-It-Yourself Currencies
World of Good Markets
The Future of Barter
Local Exchange Trading Systems
Community Currencies in the U.S.

You might find more ideas by searching for "alternative currency", "community bank", "virtual currency", or "social banking". Good luck!

Your objective:

What creative solution do you think will make the biggest change in how we use money in the future? Pick your favorite experiment and tell the EVOKE network why you think it will change the world.

This objective is worth +7 knowledge share.

Get credit for your evidence! After you submit your evidence in a blog postphoto or video, go to the newly posted evidence page and log your evidence for this objective. Then you'll receive credit on your profile page!

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Comment by Christopher Souza on May 3, 2010 at 6:04am
I think it is crazy that money isn't even a solid object anymore. You can transfer money from point A to B and from point B to C in a matter of minutes. It used to take days if not weeks for money to transfer but now a days it seems that all this paper money isn't really backed up sufficiently and really freaks me out!
Comment by joshua A. on May 2, 2010 at 5:16pm
money makes buying stuff and selling stuff way easier for the society and economy.
Comment by Vivian Volirakis on May 1, 2010 at 6:20am
., .,
Comment by Thys van der Veer on April 30, 2010 at 6:27pm
... Money makes buying and selling products easier ...
... But when we pay for services, how does that influence the total exchange of 'value'? ...
The idea behind money is explained in a german video:
http://www.youtube.com/watch?v=ZLIO1_uQY1s
Comment by Jesse Prior-Hull on April 30, 2010 at 2:34am
I think microsavings and the creation of Mahila Milan is a brillant idea to help the citizens of Mumbai figure out how to amass some wealth to help better their lives. I also think that a barter system would be extremely beneficial. It would ensure that people receive their goods not only immediately but they also will use these items for every day use. With paper currency you can save it, but is it really doing anything useful just sitting under your mattress or in a coffee can?
Comment by Roger Briggs on April 29, 2010 at 2:30pm
Hi, Daniel. Some missions will have a direct link to a blog post, but in this case you should click on Evidence at the top and then on the button that will let you add a blog post or video or picture, whichever you choose.
Welcome to EVOKE, by the way!
Comment by Daniel Blanchard on April 29, 2010 at 9:50am
I just joined EVOKE yesterday but would really like to participate in The Future of Money mission. How do I get to post a blog about it and not just a comment?
Comment by elizabeth bonsignore on April 28, 2010 at 2:39am
All this talk of money -- what did we have before it was invented? We bartered for goods and services, yes? Then money became the simple facsimile for getting a good or service, but more easily transferred/saved/traded....
Comment by Roger Briggs on April 27, 2010 at 7:22pm
Apparently one of the things that lead to the downfall of civilizations is the creation of money. But since all civilizations have money, are they all doomed? Maybe. A bartering system is a good or service for a good or service. It assumes that you're trading for something that is immediately useful or beneficial. Printed money can be amassed for the sake of amassing it, or can be saved for a long period of time. Money sitting in a bank or under a mattress is not readily useful or beneficial. This leads to hoarding, greed, and social class divisions of the wealthy and poor. In a bartering system, these terms do not exist.
Comment by Ugn Brnrd on April 26, 2010 at 9:24pm
i ask this question alot... "Who invented the concept of money?" Could you imagine living in the world getting all that you needed and not having to pay for it. Money is actually the reasons why we have different cla****, why we have selection in what kind of clothes we buy, cars we drive, homes we live in, because we strive for more, and to have bigger things, but along with bigger things and having more, requires more money.

I am pretty good with money for the most part. I live on a tight budget, because i dont have much money, however i have everything that i need and more. I save as much as possible and i slurge very little, and although it take lots of discipline, it is achieveable. a few of the ways i save money is i live in a cheaper apartment, verses living in an apartment w/ amenities i really dont need or will use. I drive an economical vehicle, that uses less gas than regular vehicles. Not a hybrid, but a compact small vehicle. I dont have credit card debt, or loan debt. I save as much money as possible and pay for things in cash. I also limit my dining out. I dont eat out unless its necessary. I buy groceries and cook at home, taking my lunch to work everyday, and cooking dinner. Again it takes lots of discipline but its managable. I try to make less back and forth trips to save on gas. monitor the what i keep my air conditioning temp, lights and electricity i use to keep my electricity bills to a minimum. For entertainment i usually invite friends over and have movie nights, or i will go to their home and watch movies together. I dont go out to fancy places, or places that require spending lots of money. If i find myself wanting to get out and and spend money, sometimes i even go to sleep, or work out. This way i am keeping my body healthy, or still keeping my body healthy by getting much needed rest, and im not out spending money.. Sounds crazy but it works. Doing thes types of things and making it a lifestyle will slowly change the way you spend money. I havent spend any money of pocket in 4 days. And probabally wont spend money again until its time to fill up my car with gas.
Comment by Saiduzzaman Pulak on April 26, 2010 at 6:42pm
where i will write now? i dont get the option of writing learn5 blog post
Comment by victor, rodriguez on April 26, 2010 at 5:12pm
The article that i read was was a good one because of the mistake that Michael's wife made in her phone he was realize that that what if people could transfer money over twitter and paypal was the solution. the server has like 15,000 even though that doesn't sound like much like now you cant transfer money by using a cellphone.
Comment by Anthoulla Themistokleous on April 22, 2010 at 10:50pm
I dont think we'll live without money, we need it.
Comment by evoke17 on April 21, 2010 at 9:03pm
I don't think people need to regulate their own money. People don't need any new system for money all they need to do s too try an spend their money on the stuff they need. Myself i spend too much money but i don't care about money because it comes and it goes there is nothing i can do about my money an the Gov. can't manage peoples money for them thats their own problem.
Comment by Malte on April 21, 2010 at 9:03pm
I'm not really sure whats the point of discussion here. If this is about how money will be spent, the internet already brought a huge change and I guess in the future less and less "real" money will be used, but I doubt the way we spend money has the potential to introduce change or solutions for economic problems. while micro loans with no or small interest rates and bartering are ideas that can help poor people, it doesnt really tackle the fundamental problems like third world debt and exploitation.
Comment by De Wayne on April 21, 2010 at 8:08pm
The LET system would be a more effective method of eliminating the power of the "almighty dollar" thus increasing social connectivity and networking where participation is essential to its evolution. Furthermore, the LET system provides a level playing field for smaller companies to compete with larger organizations thereby minimizing monopolies.
Comment by Joseph Cardillo on April 21, 2010 at 7:21pm
A better system of government regulation. To restrict spending by enforcing a more efficient way our world spends money.
Comment by Carol Mendenall on April 20, 2010 at 10:21pm
I am wondering about bartering. It is still common in several parts of the world, does not rely on currency, and promotes responsibility. I use it often when trading between businesses. An example of an ONLINE system is http://www.u-exchange.com/barter-system

I never thought of doing it online!
Comment by Ernesto Sanchez on April 20, 2010 at 8:58pm
Well I read two articles and this is a good idea of the women who raised money. since the economy is bad in many countries of the world. The money is helping families who don't have many opportunities. and will basically create a better economy for the world.
Comment by kupcakezzle on April 20, 2010 at 7:54pm
International Barter Alliances claims to be the world's largest barter marketplace. IRTA is a non-profit corporation established to foster the interests of the commercial barter industry in the U.S. and around the world. There is a guide offering helpful suggestions and advice on how and why you should barter.

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