From Money-Backed Innovation to Innovation-Backed Money
The traditional debt-based economic model where money is backed by future productivity presents significant limitations in our rapidly evolving world. This system constrains innovation by tethering it to conventional financial metrics that fail to capture the true value of human potential and creativity.
Current Limitations
The existing financial framework moves too slowly and inadequately represents the actual productivity of society’s diverse contributors – from parents and educators to engineers and scientists. This disconnect creates a fundamental gap between innovation potential and available capital, limiting our ability to solve future challenges at the required pace.
The Innovation Standard
A revolutionary approach emerges when we inverse the relationship between money and innovation. Instead of innovation being backed by money, currency could be directly backed by the true value of innovation itself[1]. This transformation would create a more dynamic and responsive economic system.
Mechanics of Innovation-Based Currency
The implementation of this new economic model relies on three key technological pillars:
- Game theory to establish value metrics
- Blockchain for transparent tracking
- Artificial Intelligence for asset conversion
These technologies work in concert to transform intangible innovative potential into tangible economic value.
Future Economic Implications
An Innovation Bank would fundamentally differ from traditional banks by issuing currency directly backed by innovation value rather than future productivity promises. This system would:
- Accelerate problem-solving capabilities
- Better represent true human productivity
- Create more immediate connections between innovative solutions and resource allocation
- Enable faster response to emerging challenges
The key to this transformation lies in developing new measurements and metrics for human productivity and innovation potential[1]. By redefining how we measure value, we can create an economic system that more accurately reflects and rewards the true innovative capacity of human society.
The Innovation Standard: The Ingenesist Project
Solving the problems of the future will require humans to innovate at an astonishing rate… … far greater than anything our existing economic system can support.
In order to achieve this, there must be a fundamental shift in how knowledge assets are measured, curated, and exchanged.
Today, a traditional bank distributes money backed by your promise of FUTURE productivity.
Innovation is also a promise backed by FUTURE productivity. Two currencies backed by the same underlying asset are readily convertible.
In the future, an Innovation Bank, would issue currency backed directly by the true value of innovation. All we need to do is measure ourselves differently.
The Ingenesist Project uses game theory, blockchain, and Artificial Intelligence to convert intangible assets into a more tangible form.
Join The Ingenesist Project
Analysis
Money as we know it just does not move fast enough. It does not represent the true productivity of Moms and Dads, soccer coaches, engineers, Scientists, teachers, and event organizers. Money needs to be produced as thenet sum of productive human behaviors. People know what problem needs to be solved next and if you give them the tools to fix things, they will.