Major world economies are having big problems – and online alternatives to traditional economic structures are proliferating. But that’s not the interesting part. What makes new technologies like Bitcoin, the virtual currency, so threatening isn’t that they allow a select few to avoid taxes or buy drugs online, it’s that they may very soon represent a viable avenue for the whole world to do so.
New kinds of exchange platforms are providing viable means to exchange non-financial resources, or to exchange financial resources in a way that is more difficult to trace. At the same time, emerging markets are just about to come online. As they do, they are going to inherit these alternatives and provide the economic impetus to evolve them even further. At that point, it will be too late to put the genie back in the bottle.
In many ways, it’s already too late. The good news is that we can still do something about it.
See full Press Release: http://forumblog.org/2014/01/the-rise-of-the-reputation-economy/
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