what money really means and how to get rich_138

_{Access.The Internet and World Wide Web are the ways in which to reach}

_{the vast pockets of information stored as data today.These "pathways," already}

_{five hundred times the size of any mere search engine like Yahoo, are deeper}

_{and amass more routes than we knew existed in telephony. Some 12 exabytes}

_{(one trillion, trillion bytes, or fifty thousand times all the information in the}

_{Library of Congress) of who-knows-what is out there sitting on the Web and}

_{the Internet. And even these routes themselves are multiplying. Electric current}

_{(through a traditional AC/DC outlet) is being tested in Spain and is}

_{replacing telephone lines. And then there is the wireless Ethernet. This is a}

_{high-speed wireless network that can tap into the Internet,Web, and local area}

_{networks at extremely high speeds and allows for simultaneous send and}

_{receive signals.}

_{So, wireless access to the plethora of information we generate is here. By}

_{utilizing "smartchips," or semiconductors that transmit wireless data, digital}

_{"signals" can capture information and put it in front of our eyes. Soon, this}

_{will happen in real time. XML, the new programming language, will lead the}

_{way to open the architecture of software programs so any online device can}

_{transmit "or speak" with any other online—or offline—device.}

_{This wireless environment is upon us, and here's how it looks:You'll walk}

_{into a supermarket and take a carton of milk from the rack. A small screen will}

_{ask for purchase confirmation.The price and purchase amount will be relayed}

_{via voice or visual display signal, at which point a personal characteristic con-}

_{firmation "signal" will be necessitated to complete the purchase.You will say,"I}

_{agree with the price," or a fingerprint pattern will be taken to indicate "yes."}

_{At the same time, a digital video recording will capture the transaction. The}

_{transaction will be posted to your personal account.The agreed-upon value will}

_{be deducted from that account, and you'll go on your merry way.}

_{Won't money—bills, coins—seem silly?}

_{The premise behind a dollar or lira or yen is that we recognize value based}

_{on the faith that a government will back its currency's worth. This widely}

_{accepted belief is based not only on the recognition of the government, but}

_{also on the information and analysis of its backing.}

_{We can easily find out enough information about Japan, for example—}

_{touch the ground, investigate its commerce, analyze its financial condition, and}

_{decide on a relative worth of its yen. But we can't as easily do so for every}

_{person in Japan.Well, we haven't been able to.Technology is changing that.}

_{The individual and the corporations and institutions with which a person}

_{transacts have been empowered by the Information Revolution.}

_{Just look at the lending rate in the United States, or the cost at}

_{which banks—private corporations, institutions—borrow money from the}

_{2.5 percent. That means that there is essentially a 2.5 percent difference}

_{between what the government would charge me as an individual to have conveyed}

_{its trust and information as there is for a private institution to convey}

_{that faith.Why? Theoretically, institutions are empowered by the government}

_{to grow. But practically speaking, institutions, or corporations, don't need the}

_{government's backing anymore. They can release their own currencies, and}

_{trade directly with the consumer.Award points, frequent flier miles, coupons,}

_{and "loyalty credit" programs are all examples of corporations trading directly}

_{with the consumer without the need for a government wedge of interference}

_{in the form of trust.}