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Author Topic: MonexMatrix - A revolutionary approach to replace the global monetary system  (Read 4659 times)

Jay Sadie

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Given the current worldwide economic crisis it is time to look at a more workable solution.  The current monetary system is broken and it is time for change… major change.

For much too long large financial banks and institutions have held the world hostage while supposedly providing valuable services.  Banks systematically evolved into unscrupulous money making machines that caused the mess we are all experiencing in these difficult times.  Money has become a game where the ultimate goal was and is to win at all cost, never mind the consequences.  At some point it had to come to an abrupt and catastrophic end… which is what I believe is currently happening.  We are living in very challenging times which are bound to get much worse before it gets better.  Even if it does get better it will be short-lived.  We are seeing the familiar spasms of a dying body… banking.

Most systems designed by man have a finite lifetime.  As the world changes over time so do these systems have to be adapted or even replaced in totality.  We are living in a very different world than a hundred, or even fifty years ago.

Fortunately a new technology has developed to such an extent where it can provide us with the means to replace the current monetary system.  And this vehicle is called the Internet.  What the Internet has done for the world is to provide worldwide connectivity on a global scale.  In a relatively short time it has connected almost everyone on Earth.  A new dawn has arisen…

When the world was not connected we needed organizations to act as middlemen between us and other traders across the globe. We do not need the middlemen, or Clearing Houses, any longer.  We can directly interact with anyone, or any business on Earth.
A global computer system can make it possible to keep track of every company and/or individual’s assets and trading balances.

So, I am going to coin a phrase for this new worldwide Internet computer-based assets and trading system: MonexMatrix (short for Money Exchange Matrix)

Defintion of Matrix:  Something that constitutes the place or point from which something else originates.

As with any system there will be challenges and hurdles to overcome in making MonexMatrix a reality.  The largest hurdle would be the trust factor.  Who would manage such a system and how can it be trusted?  The answer would be to form a non-profit organization (MonexMatrix International) that will manage the MonexMatrix system.  This could be something similar to the current World Bank organization.  The World Bank is an international financial institution that provides loans to developing countries for capital programs.  The World Bank's official goal is the reduction of poverty. By law, all of its decisions must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment.

The World Bank is just used as an example of course.  MonexMatrix International will be an institution to ensure that the MonexMatrix will not be abused and that it stays true to its goal, namely to provide a trusted and secure platform for keeping track of assets and to allow for any and all trading and monetary transactions to occur on a global basis.  Mirrored servers will be kept in all countries across the globe, ensuring 24/7 availability and to prevent potential hacking attacks.  The purpose of this post is not to go into the technical details of how to design and maintain such a system, but suffice to say that it will be one of the most technologically advanced and secure systems the world has ever seen, with checks-and-balances second to none.  To give you some idea… all transactions will be printed on hardcopy at multiple locations and will be stored in underground bunkers for ultimate security.  If, heaven forbid, a Solar Flare of epic proportions destroys all magnetic media on Earth, we can always go back to the paper trail!  I wonder how the World would fare if such an event would occur tomorrow…

So how does the MonexMatrix work?

Firstly it will render coinage and notes completely absolute.  No money will ever be printed.  This alone will save a ton of money.

Secondly all assets of companies, organizations and individuals will be captured and stored in the MonexMatrix database.  The system will rely on a 3-tiered security system, consisting of retina scans, fingerprinting and security codes (passwords) to ensure absolute security.  Biometrics is an automated system that can identify an individual by measuring their physical and behavioral uniqueness or patterns, and comparing it to those on record.  In other words, instead of requiring personal identification cards, magnetic cards, keys or passwords, biometrics can identify fingerprints, face, iris, palm prints, signature, DNA, or retinas of an individual for easy and convenient verification.  With the boom in Internet-based business and the increased need for accurate verification when accessing accounts, biometrics is the simplest and most convenient the solution.  Its universal, unique, permanent and measurable features ensures security of information in E-commerce, such as on-line banking and shopping malls.

Thirdly all monetary or exchange transactions will be performed via the MonexMatrix.  Thinks of it as your Online Bank, although the term “Bank” does not really apply here.  Eventually the term “Bank” will be considered a negative connotation.  I’m using the term loosely here for the lack of a better word.  Maybe we should rather refer to the term “Vault” from now on.  How about your Online MonexMatrix Vault, or MonexVault?

The concept of a currency will be no more.  No more Dollars, Euros, Pounds, etc.  It will be replaced by MonexUnits.  A MonexUnit is a global unit that has the exact same value anywhere on Earth.  A MonexUnit is not a Promissory Note.  Each Unit is attached to a tangible asset.  It cannot lose or gain value.  Wrap your head around that one!  So, you may ask: “How do I earn interest, or increase the value of my “portfolio” or “Bank” balance?”  The answer is simple: You “earn” units by making something (manufacturing), trading something (physical goods or bartering), performing a service, or working for someone (traditional employment) .  You may also “loan” some of your units to organizations or individuals at a globally agreed upon interest rate and terms, set by the MonexMatrix Commission.  You will also be limited to loan out a maximum percentage of the units you have available for trading (your MonexBalance).  This will ensure that your risk is limited and that you won’t be wiped clean in case the “borrower” defaults.

How will MonexMatrix International earn units to manage and sustain the system?  Currently Credit Card companies charge a percentage of all transactions received by merchants.  MonexMatrix will charge a small percentage for each transaction, but nothing that approaches the high fees of banks and Credit Card companies.  These fees will be used to “fund” the operations of MonexMatrix.  It will only collect enough fees to sustain itself, and not to show a profit (VERY important).

MonexUnits may be fractionally traded, i.e. half a unit, 1/100th of a unit, or even 1/1,000th of a unit.

How do Governments collect taxes?  As much as we all dislike paying taxes it still is a necessary practice from which there is no escape, thus the saying “there are two certainties in life… death and taxes”.  Governments have to collect taxes to run countries, build roads, provide social services, to protect its people, to provide a police force, emergency personnel, etc.  Each country will inform MonexMatrix International what their Tax Rates are and will then receive that percentage of all transactions performed by their citizens.  Local taxes, such as property taxes, will be paid by the owners exactly as it is paid now.  Local municipalities will typically assess a property and will notify the owner how much tax is due.  With this new system owners will still “pay” their property taxes by transferring the required MonexUnits to the appropriate Tax Collector’s MonexMatrix account.

In conclusion

The MonexMatrix will ensure that greed will no longer be the driving force amongst money-hungry individuals and organizations.  If you want to make “money” you will have to do something for it, e.g. build something, invent something, provide a valuable service, etc.  This will ensure that “economic bubbles” will never form again.  The concept of “futures” will disappear.  You will be measured on your current assets and abilities, and not what you might be worth in the future.   It is this future or perceived value that got us into this mess in the first place.  We need to make sure it never happens again.  It is detrimental to the human race as a whole.

I believe that a person has a right to gather riches, as long as that person earns it through hard work and/or entrepreneurial skills, and not by means of deception or at the expense of others.  The MonexMatrix will create a level playing field where all people on Earth will have the ability to trade with others and to have their assets protected by a Global organization.  Governments and/or unscrupulous regimes will no longer be able to nationalize your assets at will.

All in all MonexMatrix will result in a stabilized world economy and community, where all countries, companies, organizations and individuals will be protected against the bad decisions of others.

P.S. Also read my related topic How to solve the current Economic Crisis, and more


For more of my own personal ideas please click here...
« Last Edit: October 04, 2011, 05:56:50 AM by Jay Sadie »
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