make it rain is a project as part of Water Futures’/The Pump’s efforts towards having a relationship with water that will keep life in good stead on this planet.
One aspect is the launch of a currency inspired by the “money is time” mantra and that people are far more loss-averse with their money than their time. So why not make water a money and then we won’t want to lose it. Inspiringly, the Pula currency used by Botswana directly translates into english to mean rain.
This world-currency (as water is a world resource) is the Litr. It may take on slang terms such as quid for pound or buck for dollar and be referred to as a few drops or a big glug. It would operate under the same decimal breakdown as a dollar with 1 Litr being made up of 100 milliliters and a million litres being technically a megalitre, and a billion being a gigalitre and so on.
How many litres are there?
It can be visualized in the image below from this super resource. The smallest of the 3 blue spheres is our currency because that water is the version we need for life and is accessible to us.
world water amount: 1,260,000,000,000,000,000,000 liters
drinkable and available fresh water amount: 8820000000000000000 liters
Litrs minted: 8820000000000000000
divided by 7 billion human people = 1260,000,000 Litrs/Liters to spend
If we followed a UBI concept, a daily allowance might be 1260 Litrs per day
the rest (like $ € ¥ £ etc today) will be interacted with digitally (blockchain managed by bitshares with the code Litr) where you would pay via debit cards, bank transfer, paypal, paypass, apple and google pay etc.
Until an official monetary policy change over, you can get a taste during online shopping by installing the chrome plugin word replacer so that all “$“ get replaced by “Ł“
(thanks to Josh Mu for pointing it out to me!).
The idea came from a brilliant chrome plugin I use called Time is Money. In the words of the creator “Download Time Is Money and start saving hours like dollars.”
This project requires no appeal to heart or compassion, just leveraging our already enculturated economic sensitivity.
It would strangly bring back into service economics like the gold standard whereby each Litr was a promissory note on an actual liter or drinking water. Inflationary capitalism would look different under this model although 10-1 credit/debt generation would work in the same fashion.
Q: how many Litr will a litre of water cost?
A: this is the hardest question and fittingly, i haven’t yet found an answer. It should be high enough to have incentives to respect the spending of water but it should also not put up economic barriers to water access for those most vulnerable. as this is a global currency it will have very different value in each market. as a guide, a cheap 500ml bottle of water in australia costs $1AUD but as another guide, the InnovationXchange Program Challenge is offering $2mUSD to a engineering breakthrough that can harvest water from the air at a cost of $0.02cents per litre.
In the analogy of a gold standard, liters could be “mined” from the ocean into drinkable water through desalination or projects like the one above.
I don’t imagine that we can foresee the complex incentive regimes and arbitrage this might introduce into global economics but my thinking at this stage is that water itself wouldn’t work as currency because of the ease in which it could be counterfeit. and because we don’t want a situation where armed guards must defend rivers and dams as if they are bank vaults (although that has happened in some parts of the world)…
This is a future fictional point-of-view of a busker who had some of their donations stolen by a passerby. They had to play john lennon songs for hours to get people to throw down 7 drops and that guy just takes one!!
all the water is accounted for, people don’t need to be in possession of water to be able to spend it. they are just in possession of Łitrs.