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Future of Money | Cozy Meaningful MeetUps

SathoshiPay: Frictionless Nanopayments

Rapid change occurs every day and we constantly need to adapt and develop ourselves further in order to not get lost in between all those innovations and challenges that our society faces incessantly. At the same time we must protect our core values and principles, which is why we came together for a Meaningful MeetUp once again to exchange our perspectives. This week’s topic was “Future of Money”, in which we specifically focused on the implementation of the Blockchains Technology.

Most of the information we heard was brought to us by Meinhard Benn, who could successfully lead us to this topic through a video call directly from Berlin. He is the founder of SatoshiPay and possesses a remarkable knowledge and experience in that field of expertise.

To get familiar with this topic, he introduced us to some main aspects of Blockchains. For example, that it provides an open decentralized database of every transaction involving value like money, goods or property just to name a few. Blockchains are specifically beneficial to the poorer population in the world because, as long as you have access to internet, you can get involved in Blockchain-based transactions and protect yourself from fraud or political corruption. Furthermore, people do not rely on financial institutions anymore to send money from one person to another, e.g immigrants can easily send money back to their families.

Nevertheless, there are other groups of the society who are not yet ready to embrace this implementation. At our MeetUp we questioned ourselves what we believe will happen to services like banks, notaries and public authorities. Can they survive without adjusting themselves completely?

However, the more users there are the safer the network becomes and right now Blockchains only count three to four million users. SatoshiPay helps users to pay for web content with nanopayments (small money amount, like cents), through registering your credit card and your money being transformed in a form of cryptocurrency. At our meeting we all agreed that as consumers, we try to avoid advertisement as much as possible and only want to pay for exactly the content we really use. To achieve this desire could metered data & services (pay-per-use) for example be a future user case?

Interestingly, Blockchains are not the only example of a form of future money that is currently taken into account. Our attendees also discussed other methods and innovations worldwide like the QR code, with which homeless people in China are accepting money. Get up to date and inform yourself with the help the following links:

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