Mark Pesce, a columnist for The Register and host of This Week in Startups Australia (among other talents), recently spoke at the Adelaide Festival of Ideas on the concept of "Smart Money." Mark is a mentor and supporter of ours, so we wanted to give a quick recap on his article.
Mark covers the history of money (in short: it's a long history, but not much has changed in the last 2600 years), the impact of IBM's mainframe computer (which was revolutionary for banking), and the transformative power of smart phones. He then explains distributed ledger technology, and blockchain, using a simple example that everyone can understand: travel reimbursements. Mark goes on to highlight two applications of this technology: agriculture (yours truly) and renewable energy (Power Ledger).
Then Mark brings it back to where he started: money. Here's what he says:
The money revolution that Mark lays out relies on 'fedcoin', a blockchain-based currency that can move around inside and between our apps and smartphones. This has huge potential across industries, and for money as we know it.
Let us know what you think!