In 1999, a researcher at AT&T Labs made a strange discovery.
Not about computers. About people.
He found that in online chatrooms, the most valuable thing was not information. It was identity.
Not usernames. Not passwords.
Reputation.
In those early days, anyone could be anyone.
Trust was fragile.
So small groups developed their own “currencies”
private codewords, inside jokes, signature typing quirks.
These were not official. No platform enforced them.
But they worked because everyone knew what they meant and who they came from.
Lose your reputation and your “wealth” was gone overnight.
Earn more and doors opened.
It was not money, but it bought you access, allies, and influence.
Then came the platforms.
They monetized identity.
Turned it into data.
Sold it.
And the value stopped belonging to the people who created it.
Currencies do not disappear because they are worthless.
They disappear when someone else controls them.
If tomorrow’s economy runs on AI and your identity fuels it, who will own your currency?
In 1999, a researcher at AT&T Labs made a strange discovery.
Not about computers. About people.
He found that in online chatrooms, the most valuable thing was not information. It was identity.
Not usernames. Not passwords.
Reputation.
In those early days, anyone could be anyone.
Trust was fragile.
So small groups developed their own “currencies”
private codewords, inside jokes, signature typing quirks.
These were not official. No platform enforced them.
But they worked because everyone knew what they meant and who they came from.
Lose your reputation and your “wealth” was gone overnight.
Earn more and doors opened.
It was not money, but it bought you access, allies, and influence.
Then came the platforms.
They monetized identity.
Turned it into data.
Sold it.
And the value stopped belonging to the people who created it.
Currencies do not disappear because they are worthless.
They disappear when someone else controls them.
If tomorrow’s economy runs on AI and your identity fuels it, who will own your currency?