In the future, money will be far different, and far better than the abominations we use today.
I call this future money super-bitcoin (because it will take a giant leap forward from what bitcoin/dash/ethereum are right now. )
Super-bitcoin will be to bitcoin, as bitcoin is to FED notes today.
Bitcoin is replacing the money storage and payment structure that used to be the sole purview of the banks.
Bitcoin is providing the transparency we need in our financial markets.
Super-bitcoin will go even further. It will replace the entire financial system. Stock markets, banks, saving, trading, lending and insurance will all be made completely obsolete.
Super-bitcoin will have several attribute which currently money does not have, and as soon after people find out about them, they will demand their usage.
- Being able to shift easily between physical and digital.
- As easy to give to your neighbour as someone on the other side of the world.
- Being able to be recovered
- Being able to choose whether the transaction is completely anonymous or completely public with both parties being discoverable/known
- Being as easy to use, for millionaires or beggars.
- Being super easy to pay known stores while being very sure that the money is going to the correct place. (verified name space)
- As well as all the other money attributes; fungible, divisible, etc
Super-bitcoin will replace lawyers. As most contracts will be on the blockchain, and ruled by code, not by law.
These contracts will be of the building block type, and so you and anyone else can enter a contract from selling your used car (transferring title and transferring payment) to contracting for a new roof to be put on your house.
The first contracts will probably be, upon delivery conformation, release currency to seller.
Paypal is almost doing that now. In the future, it will be even easier.
Then further escrow contracts will be added. Ending in a position where most people will use some sort of escrow/contract because it is so simple, and it all works out automatically. It won't be an extra layer of hassle, almost nothing extra will have to be done and both parties benefit from the safeties built into the system.
Super-bitcoin will be to dollars as the iPhone is to the rotary phone... actually, it will be compared to banging on rocks or sending smoke signals.