A vision of the Internet of Value

I published a paper today (on Medium) A vision of the Internet of Value

"...The idea that money is a standard commodity originated in the hypothetical barter economy imagined by Adam Smith. He proposed a model that started with people making in-kind exchanges, and then naturally developed a commonly-shared commodity into a measure of value, such as gold and silver, historically. This understanding also underpins the foundations of economic science, which supposes that the most suitable commodity will naturally be chosen as “money” over the course of time.

If we follow this train of thought, we gravitate towards judging and comparing different forms of money based upon their commodity characteristics, which is misleading and damages our understanding of how economies work. Money should not be understood as a thing or a commodity, but as a technology to record value. In other words, money is a common technology adopted by a society to record who owns what. In this understanding, we should compare different money regimes by their technological characteristics instead, and in how they serve their societies in their designated functions..."