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What If You Had A Vote On Money
This podcast episode explores three scenarios where young people have the power to shape the future of money. Imagine a world where TikTok engagement determines loan eligibility instead of credit scores, monetary policy goes viral on social media, and you can vote on where new money goes. This episode explores the possibilities and challenges of these radical shifts, highlighting how young people can take control of financial systems that directly impact their lives. Here are the 3 scenarios discussed:
The People's Credit Score: This scenario reimagines credit scores, replacing them with Community Impact Scores based on social proof and public voting. Imagine gaining access to loans and opportunities based on your contributions to community projects, volunteer work, and social impact, rather than your credit history.
The Viral Fed: In this scenario, the Federal Reserve embraces social media, requiring proposed monetary policy changes to achieve "viral status" before implementation. Imagine dancing economists explaining interest rate adjustments on TikTok and policy decisions being shaped by upvotes, shares, and community challenges.
MoneyVote: This scenario introduces a mobile app where users vote on how new money is allocated, with voting power based on community participation. Imagine directly influencing funding for projects like green energy innovation, affordable housing, student debt relief, and community healthcare initiatives.
This episode acknowledges the challenges and tradeoffs of these systems, but ultimately emphasizes the potential for empowering young people to shape a more equitable and sustainable financial future
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By Chien TrangThis podcast episode explores three scenarios where young people have the power to shape the future of money. Imagine a world where TikTok engagement determines loan eligibility instead of credit scores, monetary policy goes viral on social media, and you can vote on where new money goes. This episode explores the possibilities and challenges of these radical shifts, highlighting how young people can take control of financial systems that directly impact their lives. Here are the 3 scenarios discussed:
The People's Credit Score: This scenario reimagines credit scores, replacing them with Community Impact Scores based on social proof and public voting. Imagine gaining access to loans and opportunities based on your contributions to community projects, volunteer work, and social impact, rather than your credit history.
The Viral Fed: In this scenario, the Federal Reserve embraces social media, requiring proposed monetary policy changes to achieve "viral status" before implementation. Imagine dancing economists explaining interest rate adjustments on TikTok and policy decisions being shaped by upvotes, shares, and community challenges.
MoneyVote: This scenario introduces a mobile app where users vote on how new money is allocated, with voting power based on community participation. Imagine directly influencing funding for projects like green energy innovation, affordable housing, student debt relief, and community healthcare initiatives.
This episode acknowledges the challenges and tradeoffs of these systems, but ultimately emphasizes the potential for empowering young people to shape a more equitable and sustainable financial future