Musk: Money Will No Longer Have Value!!

What exactly is money?

Musk believes that money is essentially a measure of labor distribution.

Having money simply means you can have others work for you.

If one day, artificial intelligence and robotics are sufficient to meet all human needs, then money will no longer matter.

Musk cited Iain Banks' novel 'Culture' to explain his point:

"In the distant future of that series, there is no money, and everyone can basically get whatever they want."

The monetary system is slowly disappearing, and Musk proposes an alternative concept: energy (resources).

For example, Bitcoin is based on energy.

Energy is difficult to store and hard to utilize efficiently; you can't even legislate energy.

"So I think it's very likely that we won't have money; perhaps we will only have energy."