A crash course in changing the world.
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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!
Get credit for your evidence! After you submit your evidence in a blog post, photo 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!
Comment
I think the Do-It-Yourself Currency is the best way to save money. This allows you to spend a currency, such as craigbucks, on something, such as Craig's List, and still have regular U.S. money to spend in stores.
I think we should no longer just covert money through trade. I believe we should convert money to needy countries to allow them aid.
I think there should be specialized Trucks, Planes, and Boats.
I think that in the near future we should have money sent through airplanes.
I think that we should be able to transport money on mobile devices.
I think that Micheal Ivey's idea was really good. It will probably take a shorter time for the money to go somewhere else by using a website.
In the future you probobly would be able to transport money through the internet if you can send $ with an email address or phone number now. We are not to far away from being able to do so.
you could transport money through twitter email or facebook
Just saw a commercial for Bank of America's mobile banking app. According to the ad, now you can send money with just an email address or mobile phone number.
I enjoyed Ivey's brilliant idea. Ivey knew that people use money and to transport it through twitter is an awesome idea.
While all of these ideas are great, I like the idea of community currencies. If most people in the community use their specialized currency, it makes sure that the town or city's economy is not guaranteed to collapse if the national currency system breaks down. Due to only one particular currency using it, this system would also make sure that people's money is going into the local economy, not just the national economy or that of other countries.
Earned
I mean
Ivey has a really great idea. Like the old saying says, " a penny saved is a penny owned"
Ivey had a very smart idea. He knew tons of people used the internet throughout America. Taking advantage of this fact he knew if he did something like this it could spread tons of money to other poor people needing it.
This is a great idea. You really cant go into dept and its easy to use. Every one uses the internet so its open to just about everyone.
Michael Ivey had a great idea. He realized how long it took to transfer money- hours, days... He then came up with an idea- what if he could transfer money through Twitter? PayPal soon achieved that idea. This makes it easy for possible anyone to send money with a button! This way, people could send money to others in need.
I think this is an excellent idea! It makes it harder to get in debt and be unable to pull yourself up and away from it. Then it also creates equality or something close to it among people so that people don't judge you by how rich you are.
I think the idea that Michael ivey had was amazing. If you could send money over just a website, that would be great! Most of the world would be even. It would be easier for wealthy people to give their mooney to the less fortunate with just the push of a button.
I think the micro-savings is the future of money because it gives money for people that need it, like Kenya
Sorry, It would affect the future of money because all those credit card fees....GONE!!!!!!!
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