Coins have been with us for some time. Metal in form to digital in form as technology advances, right now cryptocurrencies are at the leading edge of innovation. Still the language of cryptocurrencies yarn back to the terminology of old, with ‘mining’ the process of creating new coins. Coins are intrinsically bound to money, the creation of money, the spending, saving or investing etc. Money, has transformed the Culture of Society. The Cyptocurrency community continues to innovate apace, colored coins to coins created by sensors recording the supply of travelling speed. There is a vast ocean of possibilities for coins still to explore. While this horizontal evolution is being explored will a vertical, step change to a post monetary currency Culture start to emerge?
What is a post monetary currency? For a start coins need to be replaced. But by what? Quotients (Q). The price of a coin is governed by the economic laws of demand and supply. Quotients are a unit of computational information that derives value in the consensus of a network and self (i.e. an individual). Bitcoin, Ethercoins, SAFEcoins, darkcoin etc. so can a range of Quotients be envisioned? Lets take CiQ (pronounced ‘see’-Q) where a unit of computational information is measured from a Collective Intelligence Quotient (the complexity of problems existing in the network), the value set by the network and a Context Instant Quotient, the value to self at any point of measurement. Coins, are tokens for numbers. Quotients are a number plus a probability e.g. 230-20%. Over time 230CiQ will establish meaning to each and every individual in the network and Society is generally aware of what probability means: 100% certain and 0% no probability of something happening, thus all percentages are in between these two extremes. The big question is how are these Quotient numbers and probabilities calculated?
Like a coin, a clear, transparent (Fiat money have lost these qualities for a while now) and understandable basis for the creation of Quotients is needed. Here are some technologies that can provide an open source software approach to measuring a computation unit of information. Neural networks and Monte Carlo Simulations. Both require data inputs, how can the quality of this data be trusted? The world of cryptography combined with the our understanding of physics are giving us the notation of ‘zero knowledge proof’ that give certainty that computation events must have happened. As for the neural network or Monte Carlo Simulations, many varieties and software code exist, this diversity of approaches provides the innovation environment to experiment with much like with all the Altcoins listed above. The decentralized and distributed lessons from cryptocurrency community give guidance that, these advanced software programs should be brought to the data of each peer rather than centralized and value offered back as a service.
Quotients have the potential to replace coins. Much innovation and simple trying will be required because ultimately, Society will dictate the numbers that governs its Culture.