Urgent Evoke

A crash course in changing the world.

Future of Money - Learn


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 Maria Sylvester on April 23, 2014 at 9:02am

Bitcoin is a type of digital currency that is electronically created and stored. It is used to buy things on line but unlike other transactions it is like cash, less traceable.

Comment by Laci Whaley on April 17, 2014 at 11:08pm

I think that in the future money will be mostly traded electronically. People now a days already pay for things over the computer or their phones. In the future i think it will all be that way.

Comment by Kevin Herzog on April 16, 2014 at 5:45am

I think that the future of money is through an online currency recently developed called bitcoin.Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Comment by Abigail Griffin on March 4, 2014 at 4:38pm

I think the biggest change in how we use money in the future is going to be the increasing dependence on electronic money. Most people rely on debit or credit cards to make purchases and with the increasing technologies of smart phones, I believe, that the process of buying and selling goods will become possible to complete through phones. Currently, there is an App called Google Wallet, that allows customers to simply tap their phone, which securely contains their credit card information, against an electronic terminal at the store that is able to recognize the card and accept the money. As this form of exchange increases in popularity, more people will download the App, more locations will purchase the terminals, and exchange of currency will become faster and easier.

Comment by Elizabeth Ordway on October 22, 2013 at 11:56pm

I think we should not have paper money.

Comment by Nathaniel G Madden on April 29, 2013 at 11:52am

Really, the key is to foster entrepreneurship in areas with lots of natural resources that have never seen it before. LEARN5

Comment by Eric Connor Lieberman on December 14, 2012 at 2:37am

I think that we should all decide to go to one currency like the EU so then trading wouldn't be a problem.

Comment by Clayton Broom on December 9, 2012 at 9:19pm

The problem with most of the world's currency is that it is "faith based". For example... The United States used to have money backed with the gold at Fort Knox. Now we have currency that is worth X amount for each bill because we believe it does. If not regulated properly this can cause serious issues including Hyper Inflation. Just look at Weimar Germany. What the world needs is a currency that is actually worth something tangible. The real journey is findng out what that is.

Comment by Mary Crawford Esslinger on December 7, 2012 at 2:13am

I think that the entire world should convert to the rock. we could carve different numbers and symbols into them, without wasting paper. Alsoo, people in third world countries would have easy access and cheap ownership.

Comment by Robert Breeser on December 6, 2012 at 11:27pm

I think people should start using electronic currency, as they already have started to. First, money is really representations of how much "gold" you have, so it doesn't really matter what you represent. Second, you don't need to worry about actual cash if you have a smart phone. Third, it saves paper.

Comment by gmoke on December 6, 2012 at 6:02pm

Cash transactions are free - a dollar bill is traded for a dollar bill. Electronic and credit transfers are not as the cellphone or credit company takes a percentage from each exchange: a dollar or credit is traded for a dollar of value MINUS the transaction cost. Cash money and organized barter may be more valuable than credit and electronic transfers.

Comment by Olivia Koenig on December 6, 2012 at 2:04am

I think that a logical solution that would work for a alternate currency is to use electronic currency. Instead of everyone loosing their pennies and dollar bills, they would have a permanent fom of money that is impossible to loose.

Comment by Brittany Pearson on December 4, 2012 at 9:57pm

I think people will start using technology as currency. People are going to start buying and selling EVERYTHING online.

Comment by Cassie Mehrman on November 27, 2012 at 2:54am

In the future I think everyone will use computers, tablets, and phones to shop. You have the amount of money in your computer's account and can spend up to that much untill you have to restock your computer. For example, if you have $100 in your account and you buy $400 in slushies, you have to restock you account before getting your item.

Comment by Martha Wilber on November 16, 2012 at 2:06am

I think in the future everyone will not use case money or credit cars and just have everything on their phones or something that they always have with them. We can make these devices eco friendly and very easy for everybody to use.

Comment by Steven Jackson on November 16, 2012 at 12:46am

I think in the future everyone should switch to a curreny that is based on computers what you do is you put a certain amount of money on a website then they will email you and tell you your budget you can spend at that store.

Comment by Joshua Bennafield on November 15, 2012 at 1:28am

In the future i believe that we should the same currency like Chaz said. this will allow communication of money to be more fluent and productive.

Comment by Lauren Keen on November 15, 2012 at 12:13am

I think we should use mobile devices to use money. If your in a store and you don't have money but you do have your cell phone, you would be able to use you phone to pay. It would be quick and easy to use your phone you would just pull it out and pay just like that.

Comment by Charles Schwartz on November 14, 2012 at 1:38am

I'm pretty sure this is late ,but I'm not sure.

Comment by Charles Schwartz on November 14, 2012 at 1:38am

I think we should all use the same currency. It would make trading much easier and it would be a wh*** new way of using money.

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