Answer to Question #179872 in Macroeconomics for Jody Parker

Question

View the following 2 TED Talks (video presentations). As you watch the videos, take notes of any relevant information.

• The Future of Money | Neha Narula
• How the blockchain is changing money and business | Don Tapscott

3. Decide which of the 2 TED Talks best responds to this question;

• Should we trust electronic currencies, like bitcoin they way we trust government issued money?  

4. Produce in at least 200 words a Post in which you explain your position. Your post must contain at least the following elements:

• It must state the title and the author of the chosen TED talk.
• It must state the reason why believe that TED talk best answers the question.
• It must explicitly explain the relationship, connection, or link between the ideas provided in the TED Talk and the concept of Fiat Money. 

Answer 1

1)The Future of Money | Neha Narula

The future of money is programmable where we don’t have to lay on an institution for security. Cryptocurrencies are money designed to work in a world without intermediaries. Through this, one can pay without security, permission and also send money around the world.

How the blockchain is changing money and business | Don Tapscott

The next generation will use the internet for money transactions where privacy is undermined. The transformation will lead to a prosperous world. The cryptocurrencies will do this by recapturing identities, ensuring compensation for the creators of value, protecting rights through immutable records, creating a true sharing economy, and ending the remittance rip-off.

2)  How the blockchain is changing money and business by Don Tapscott TED talk best responds to this question on “Should we trust electronic currencies, like bitcoin, the way we trust government-issued money.”

 We should trust electronic currencies, like bitcoin, the way we trust government-issued money. 

3) How the blockchain is changing money and business by Don Tapscott provides the best answer as he explains how blockchain is transforming the world. This includes recapturing identities, protecting rights through immutable records, and creating a true sharing economy. The ideas provided are related to the concept of flat money. Flat money refers to a government-issued currency that is not backed by a commodity such as gold. Both cryptocurrencies and flat money does not require to be backed up.