Open Money?

Money is something that is, for most, taken for granted.

On its public facing side, it is described, and accounted for, in a very simple way.  A good or a service is allocated some arbitrary value and in order to obtain that good or service, we submit that value in dollar (currency) notes of that value.

It goes by many different names: Dollar, Pound, Euro, Yen, Peso, Rubble, etc.  They all function the same way.  They are also interchangeable.  We can take our common currency and exchange it for another currency, in the event that we wish to make purchases in another country.

Making copies of existing, legal tender is illegal.  There are also many ways in which creating an alternative money can also be illegal.  But why would one want an alternative, or "open", money?

There are many words that are used to describe alternative currencies, or are used as the specific names of these currencies.  Crypto currency, alternative currencies, digital currencies.  And the old words such as scrip, notes, IOU.

Of all, there is quite a lot of excitement about digital currencies.  The attraction is manifold, including ease of use, the anonymity of many such currencies, their global nature, as well as their otherwise unregulated nature.

This writer has to be honest on both sides of this coin.  While I have not whole heartedly subscribed to crypto currencies, I appreciate their intended, common value.  Just as a simple middle finger in the face of "the establishment", to the ever increasing ease of use.  I like the idea of being able to swipe a card, or scan a QR code in order to make a purchase.  Then again, like most people who have been around the block, I know how easy it is to empty a bank account, or even spend over one's limit.  And when money is used as an investment vehicle, it brings these crypto currencies into the realm of fiat currencies.  False value with no backing.  Also, if the means in which to conduct a transaction does not exist, and there certainly are reasons this can occur, then "owning" any amount of digital currency is irrelevant. Still, as another medium of transaction, it is valid and has strong value.

As mentioned earlier, there are old skool tools, as well.  And they are making strong inroads.  Many have strong backing and can exist regardless of whether access to high tech exists.  They have a common, physical existence, meaning they are easily exchanged, and obvious in nature.  Of course most require at least some basis in trust and relationships.  Something that is sorely lacking in today's fast paced, western world.  But this posting shouldn't be about this writer's jaded worldview, rather it should be about alternative currencies.

In some instance, money is best when it is created at the moment of the transaction, and is destroyed at the moment of use (or return to issuer).  Minuto is one of those, where you can make your own money: