Neha Narula : The future of money

Neha Narula at TED@BCG Paris 2016
The future of money  (transcript)
Summary
Money isn't anything objective but it is a powerful concept. It's about a collective story that people tell each other about value. It is collective fiction. There is nothing inherently valuable a dollar or coin.
People decided that money is about the exchanges and the transactions with each other and they do now. They just only continue doing that.

They bring money when they want to buy something. However, they don't want to bring it and credit card also because it's not safe. They’re troubled where they put money.
They don't want to rely on banks and want to transact directly.

And then the concept of new money was created. The future of money is programmable. It's the combination that is software and currency cryptographically. Cryptography is masking information but verifying it secretly. You don't have to rely on institutions for security.

This is the new thinking that is the future of money; Cryptocurrencies.
The speaker's examples in this talk were really understandable.
She said that no one knows that this idea fits you. However, money innovation that is programmable money will be going to spread rapidly. It's difficult to predict.

Words in this story
deduct /verb/ subtract or take away (an amount or part) from a total.
implement /verb/  execute, apply
crypto /noun/ a person having a secret allegiance to a political creed, especially communism.
cryptocurrency / virtual currency  cryptography /passwords
allocate /verb/  allot, assign, distribute